Hi,
Just looking to get some feedback and advice on my current financial situation. I purchased a 2 bedroom apartment in Adelaide, Keswick for $227 500 in 2008. In that time I have spent roughly 15k on a reno. I have a loan for 190k on it at the moment and I rent it out at $275 per week. Its been revalued at $245k .It is 50m2.
My current situation
Im working on the Inpex Ichtys project in Darwin. My partner and I have bought a 2 bedroom apartment at Coconut Grove which is our ppor in 2013 for $457 000 . At the moment we currently have a loan of 449 k on it. Im earning 180 k a year and have 55k in savings in an offset account.
My 1st question is what to do with the Keswick property? It has shown pretty poor growth since I have bought it which has surprised me. It is 2.5 k from the city. 2 min walk to the train station (which is the last stop before Adelaide central). It has a solid yield and I am hearing reports that Adelaide is on the recovery but I am starting to wonder whether my money would be spent better elsewhere due to the poor growth and I am starting to run out of patience with it. We intend on staying in Darwin for the life of the Inpex project which will be complete by late 2016/2017. We are looking at relocating to the Sunshine Coast after this and will decide whether to hold onto the Coconut Grove apartment or sell it in the next 18 months to 2 yrs.
Secondly I'm looking at putting a team together e.g., broker, financial adviser accountant etc. that can monitor and provide a more thorough analysis of my situation and provide ongoing advice. Any suggestions or recommendations would be greatly appreciated!
Thanks
Dangle
Just looking to get some feedback and advice on my current financial situation. I purchased a 2 bedroom apartment in Adelaide, Keswick for $227 500 in 2008. In that time I have spent roughly 15k on a reno. I have a loan for 190k on it at the moment and I rent it out at $275 per week. Its been revalued at $245k .It is 50m2.
My current situation
Im working on the Inpex Ichtys project in Darwin. My partner and I have bought a 2 bedroom apartment at Coconut Grove which is our ppor in 2013 for $457 000 . At the moment we currently have a loan of 449 k on it. Im earning 180 k a year and have 55k in savings in an offset account.
My 1st question is what to do with the Keswick property? It has shown pretty poor growth since I have bought it which has surprised me. It is 2.5 k from the city. 2 min walk to the train station (which is the last stop before Adelaide central). It has a solid yield and I am hearing reports that Adelaide is on the recovery but I am starting to wonder whether my money would be spent better elsewhere due to the poor growth and I am starting to run out of patience with it. We intend on staying in Darwin for the life of the Inpex project which will be complete by late 2016/2017. We are looking at relocating to the Sunshine Coast after this and will decide whether to hold onto the Coconut Grove apartment or sell it in the next 18 months to 2 yrs.
Secondly I'm looking at putting a team together e.g., broker, financial adviser accountant etc. that can monitor and provide a more thorough analysis of my situation and provide ongoing advice. Any suggestions or recommendations would be greatly appreciated!
Thanks
Dangle
Advice on situation and putting together a financial team
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