George Cochrane
October 16, 2017
I am 27, on a good salary and own an investment unit in Sydney’s inner west valued at $580,000 with equity of $220,000. I would like to purchase another unit in the next 12 months and have already saved a deposit of $30,000 to do so. My unit is currently negatively geared but I am not sure whether I should be paying as much as possible off my property and eventually see it positively geared, or should I just leave it negatively geared and continue saving my deposit for my next purchase? With this in mind, should I borrow nearly all the purchase price for the next property or continue to build up a deposit and borrow a lesser amount? J.D.