Money magazine Comments - Ask Paul: I owe $800k on three properties during a pandemic

Comment by john scott ()

john scott () — Wed, 15 Jul 2020 21:18:33 +1000

Hi Rohan

1) Opt for cash instead of share buy option of the mining company.

2) Pay off any personal loans like credit card, car loans etc if you have any.

3) Build an emergency fund equivalent to 3-6 months of your salary before doing any investments.

4) Maximise your total super contributions to 25k if possible.

5) Do not sell your positively geared property if they are in good location.

6) If you still have any money left to invest, buy low cost diversified ETFs regularly.

7) Do not buy any more investment properties.

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Jim Lee () — Thu, 16 Jul 2020 09:15:48 +1000

The golden years of property investing long gone (early 2000s), good luck anyone sink in $650K - $1m a property, most properties will not grow !

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A B () — Fri, 17 Jul 2020 00:33:01 +1000

1. Put your least performing properly on the market but don't sell at a loss.

2. Invest any profits from the sale into ETFs to build your diversified portfolio.

For original story, Click Here.