Investment property-sell or keep?

M

Mairead

Registered User
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Myself and my husband have an investment property worth around 500,000 with a remaining mortgage of around 190,000. We have only one salary coming in of around 65000 and a monthly mortgage of our own of 1600 a month. We have no pension set up yet, but plan to set up at least a mim saving into a prsa. My question is would it be better to sell off our investment property now and use some of the profit and put into our PRSA and pay off some of our own mortgage or should we persevere and keep the investment house as well?
We have one car loan and no real savings.
 
What is the yield on the investment property? If it is not good you should definitely consider cashing in as you have made a substantial profit in it. You will have to make your own mind on whether property prices will continue to go up as this will also have to be taken into consideration.
 
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