what to do with capital built up in property

Hey All

Just looking for some advise.

We have about 150k in capital based on sale price of our property and our mortgage - i think we should be doing something with this money....maybe buying a cheap property in Dundalk or something and renting it out.

Has anyone else done this?

What would your thoughts be? I want to make sure we are getting all we can back on our money and to me we arent using it to our best advantage...

Cheers

Lyndan said:

Hey All

maybe buying a cheap property in Dundalk or something and renting it out.

Cheers

Click to expand...

There are no cheap properties in Dundalk any more, all depends in what you mean as cheap, I guess...

Are you prepared to put your family home at risk for the sake of your investments?

If you release equity in your home then your payments will increase. Can you afford this. The purpose of paying off the mortgage on your home is so that some day it will be mortgage free and then you can relax. The purpose is not to build up capital.