Seeking some guidance on my scenario. I have a positively geared investment property in Sydney Western suburbs, this was my residence till 1.5 years back. The rental income is more than loan repayments as I paid off most of my loan while I resided in the house, and at that time did not think I will convert it to investment. One week of rental income is now covering monthly repayment so its quite positive. The balance of rental income helps in repayments for my new residential property. Though I will end up paying quite a bit of tax on investment income this year.
The value of this property has gone up by 25% in last 1.5 yrs. If i sell now i will get a large sum to help with reducing my home loan.
WRT my situation I am working full time and has got at least 15 years before i retire.
So just wondering, is it a good idea to sell or hold further?
I am not very financial savvy so please be kind. Thanks.