rustycat

rustycat replied to the topic Q’s on buying a second house. in the forum Help Needed! 13 years, 10 months ago
Hi HC77,
With regard to Question 2. "Keep our current house as an investment property", I would suggest asking yourself some of the usual questions when looking at purchasing an investment property.
1. Is it in an area where there are less than 3% vacancies in rentals? (Check with a property manager in the area).
2. Is it in an area where around…[Read more]
rustycat replied to the topic Using equity from PPOR that has no mortgage in the forum Help Needed! 13 years, 10 months ago
Thanks to both Terryw and Qlds007. Yes, there is a loan secured against the IP (10% cash deposit used – so paying MI unfortunately). I believe the equity in the IP would be about $55K, however it's my understanding that we would only be able to use about 80% of that (?).
Also, forgot to mention, would like the next IP to be CF+ – possibly…[Read more]

@rustycat