What to invest in ?

Hey guys,
I purchsed my first IP in April this year and now I want to start investing again.
The property is a 2 bedroom unit located in Taree (not counting on much capital growth )
Purchase price - $125,000
Loan - $115,000
Current loan - $109,000
Rental income - $155 p/w
The property costs me roughly $50 a week out of my pocket.

As for my next investment iv been thinking about shares or managed funds, I only earn $34,000 a year so comming up with enough money to cover the costs of buying property is pretty hard.

Iv been thinking about getting a $25,000 loan and buying a Share pack from commsec..

Im a bit lost at the moment, sometimes I think maybe I should pay off my IP loan some more then somedays I think i should throw all my money into shares..

What do you guys think my next investment should be ?

Thank you

PS. I am currently renting and have no other debts..

 

After paying all your monthly costs (including the holding cost for the IP) - how much do you have left to invest?

Rather than buy a share pack - why not buy an ETF? What is your time frame for this investment (not the current IP). Do you want to hold for a year and then use it as a deposit for another property - or is this a buy and hold strategy and you don't intend to sell it ever?

 

I can invest about $500-$600 a month id say...

My time frame is probly 5-10years ? but thats not set in stone..
Id like to try and double my income in 5 years.

 

I think it is good to get a balance of property and stock market.

 

if you want to stick with your current portfolio size then pay down the unit.

If you want to grow your portfolio then buy the shares.

I choose to grow and will keep going till I reckon I have enough - that may never come