Hi Folks
I'm just looking for some feedback/advice on the following:
I have approx 180K sitting in a couple of very low desposit accounts (approx 2.5% PA).
As the interest i'm earning on this amount is low and compounded by 33% DIRT, i was thinking of the posibility of buying a house/apartment to rent instead.
I am married with two kids, own my own house with no mortgage and house is finished inside and outside (apart from couple of small jobs).
I don't have any loans either. Also have approx 30K invested in Shares in two US companies (one i worked for previously and one i work for now).
Was wondering what people think would be my better options.
I was thinking as Deposit rates are so low, plus the fact that i would be a cash buyer, that it might be a good idea for me to look into buying a property to rent. Chances are the rental income after tax would be much higher than i'm currently getting.
What do people think?
Thanks
I'm just looking for some feedback/advice on the following:
I have approx 180K sitting in a couple of very low desposit accounts (approx 2.5% PA).
As the interest i'm earning on this amount is low and compounded by 33% DIRT, i was thinking of the posibility of buying a house/apartment to rent instead.
I am married with two kids, own my own house with no mortgage and house is finished inside and outside (apart from couple of small jobs).
I don't have any loans either. Also have approx 30K invested in Shares in two US companies (one i worked for previously and one i work for now).
Was wondering what people think would be my better options.
I was thinking as Deposit rates are so low, plus the fact that i would be a cash buyer, that it might be a good idea for me to look into buying a property to rent. Chances are the rental income after tax would be much higher than i'm currently getting.
What do people think?
Thanks