What should I do with my $1.2M paid-off investment property?

Z

ZeredAround

New Member
This isn’t a flex!!

I’ve paid financial advisors in the past, and I can’t say it was money well spent.

If you had a fluly paid-off investment property worth $1.2m, what would your next step be?

PPOR fully paid off, worth $1.7–$1.8m.
Relatively high income, $400k+.

Sounds crazy, but would you sell the paid-off IP and use the money to buy multiple properties?

I’m looking for tax deductions.

Thoughts?
 
You can use the equity you already have to borrow and buy another property without putting cash toward the purchase. Funding can cover the contract price plus costs like stamp duty, and you’ve got plenty of equity to work with. No need to sell any assets to do more property or shares, for that matter.
 
If a financial planner didn’t help, maybe talk to a good accountant and mortgage broker. They won’t give you specific advice, but they can help with a cost benefit analysis and getting the structure right. You need to ask yourself: can I use the rental and home as security to gear into other properties, if that’s your goal?
 
To bet on sport, understand the sport. Investing is the same. Understand the asset you invest in. Educate yourself. No one will objectively help you grow money. Invest in long term assets like top 10 ASX stocks. Tether your future to the Australian economy. I am bullish about Australia being the lucky country.
 
Back
Top