Pizza and Property Should I Buy Now or Should I Repay Debt - With Hayden West
'Should I or shouldn't I buy atm?'
Is actually one of the most googled questions when it comes to property investing.
And rightfully so; we've recently ended the third largest property boom in Australian history and now a lot of markets are having a tough time, not all of them, but a lot are.
In a time of of uncertainty, this episode aims to bring clarity.
Instead of simply saying the answer depends on the situation, we've constructed 3 different scenarios to see when and why buying is a good idea and when and why repaying debt is the smarter option. We're running through these scenarios together with Hayden West, a self made millionaire that's built a portfolio close to $10m in value.
If you want to see them in writing head over to our FB and Insta and you can see the details of each scenario, but for now let me introduce:
Scenario 1)
Owns 1 investment property Value $700k
approx. Portfolio value $700k Debt $350k Age 30 years old Yield 5% - $700pw
Household income $120,000
Scenario 2)
Owns 4 investment property Value $600k each
approx portfolio value $2.4m Debt $1.6m Age 30 years old Yield 5% - $2,400pw
Household income $150,000
Scenario 3)
Owns 8 investment properties Value $625k approxPortfolio value $5mDebt $4mAge 40 years oldYield 5% - $5,000pw
Household income $200,000
With that said, let's get into this episode to better understand how a professional investor answers this question.
Join Todd Sloan and a different industry leader each week, as they open up the topics you want to know more about to become a savvy investor.
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