O
owen1
Guest
Hi There
I am wondering how best to keep the balance between paying off my debts and holding onto my investments. I currently have debts of about 60k USD. I have a condo overseas worth maybe 275k going up maybe 20 p cent per annum. I have some land worth 180k going up maybe 30 p cent or more at the moment. I have taken out loans to finance these ventures, repayments around 6k a month. My income is about 8k a month so only leaves me 2k a month to live on. This is definitely inadequate I can see my debt rising, maybe 2k a month or so. When do you think selling some of my property becomes a good option for me in the future? As long as the property is increasing in value at current rates is it not better for me to live with the current and mounting debt and forestall any thoughts of selling?
Many Thanks in advance for your advice, very much appreciated
Owen
I am wondering how best to keep the balance between paying off my debts and holding onto my investments. I currently have debts of about 60k USD. I have a condo overseas worth maybe 275k going up maybe 20 p cent per annum. I have some land worth 180k going up maybe 30 p cent or more at the moment. I have taken out loans to finance these ventures, repayments around 6k a month. My income is about 8k a month so only leaves me 2k a month to live on. This is definitely inadequate I can see my debt rising, maybe 2k a month or so. When do you think selling some of my property becomes a good option for me in the future? As long as the property is increasing in value at current rates is it not better for me to live with the current and mounting debt and forestall any thoughts of selling?
Many Thanks in advance for your advice, very much appreciated
Owen