Have just read the book. I have been/am living and working overseas so negative gearing has never been an option for me – so I have been looking for positive return investments all along – great to see Im on the right track.
A challenge for me,living O/S, is that banks will only lend me 80% of property value. This can be hard to raise the 20%. I see, in the book, that you work on a model of investing 20% anyway – is this the best way/ only way to go ? I realise it reduces the loan amount – hence making it more likely to achieve a +ive cashflow – or do I need to be more inventive in finding ways to get funding for loans or funding deposits.
I currently have one townhouse in Cairns ( I can afford Cairns [blush2]). It is returning be a good +ive cahs flow. I own 50% equity. Looking to buy again right now – your book has me fired up – but finding the ’11 second solution’ isnt fitting any property I have seen yet.alby
If you have 50% equity in a property then you need no deposit at all – if the numbers stack up OK.
Find yourself an Australian Broker who can work via email and fax with you and have him sort out your finance.
Good luck!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
if ur living in NZ – it will be a little easier than if you live in other countries. I agree – that since you own 50% equity, you will not need a 20% deposit. But if u have a 20% deposit, I would put it down cause u live overseas – it will make things easier for you and with the banks.
“If You never never ask, you’ll never never know”
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