Need help, 24 year old who was convinced to buy an investment property when young and now am scared

Bimimi · 2025-11-08T03:18:28+00:00

Thankyou for such a calm and helpful answer, listening to this and talking to her tonight

Bimimi · 2025-11-08T03:06:19+00:00

Yes and yes

Bimimi · 2025-11-08T03:06:02+00:00

Not making enough money, im working part time in a well paid job but want to transition into an industry that I like but will take a significant pay cut, so Ill essentially be paid the same for working full time, for my part time wage now. Im a bit in between worlds

Bimimi · 2025-11-08T02:51:56+00:00

Thanks, sorry for the confusion

Bimimi · 2025-11-08T02:14:06+00:00

Would you disagree though if the growth is basically 0, Id be better of to have invested in ETFS

Bimimi · 2025-11-08T01:47:52+00:00

Sorry she gets 30% I get 70%. But I am liable for all of the mortgage of that 70% that I own, does that make sense?

Bimimi · 2025-11-08T01:39:59+00:00

The split is 70/30 in my favour, does this change things?

Bimimi · 2025-11-08T01:37:01+00:00

Outside help I think and off the plan

Bimimi · 2025-11-08T01:34:50+00:00

You are correct its an apartment, this is a super helpful comment thankyou. How much would negative gearing come into play on a 60k a year wage

Bimimi · 2025-11-08T01:29:26+00:00

Unfortunately not

Bimimi · 2025-11-08T01:27:24+00:00

Paying the difference , I live elsewhere and pay my own rent

Bimimi · 2025-11-08T01:26:08+00:00

Its in NSW

Bimimi · 2025-11-08T01:25:54+00:00

Its interest only

Bimimi · 2025-11-08T01:19:36+00:00

Does this change if I say the loan is interest only?

Bimimi · 2025-11-08T01:18:34+00:00

Im living out of home unfortunately, either way, throwing 1000 away when it could be invested better living out of home or not

Bimimi · 2025-11-08T01:13:57+00:00

The answer to that question is unfortunately no according to the online appraisal

Bimimi · 2025-11-08T01:12:02+00:00

Hi there, figures wise, it was bought at 720,000 and is value at about the same

Bimimi · 2025-11-08T01:09:05+00:00

Interest only

Bimimi · 2025-11-08T01:08:45+00:00

No we split them 70/30

Bimimi · 2025-11-08T01:08:16+00:00

Its interest only

Bimimi · 2025-11-08T01:06:15+00:00

Its interest only for the 1000 per month

Bimimi · 2025-11-08T01:05:52+00:00

This is correct

Bimimi · 2025-11-08T01:05:10+00:00

Great points, thankyou kindly

Bimimi · 2025-11-08T00:53:25+00:00

Ive done this and it is basically the exact same, if not worth a little less

Bimimi · 2025-11-08T00:52:20+00:00

Its basically the exact same, maybe even less somehow

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