My problem is FINANCE. I have 6 one bedroom units in Maylands Perth and a house in Dalkeith Perth. I did own another two units outright in Maylands which I sold to fund a purchase in Hong Kong. I have read the book 0 to 130 Properties in 3.5 years but didn’t find what I was looking for in terms of finance. Basically if 130 properties average $50,000 each with say 10% deposits not including other costs then just the deposits come to $650,000. My units are positively geared. That is purchased for $30,000 to $50,000 each and earning today rent of $110 per week each. Dalheith is rented buy negatively geared. a small drain only. The units are valued at $100,000 each and Dalkeith is valued at $1 million. Purchased for $640,000 with a $200,000 deposit. Banks will only take 50% of the rental and finance units to 66%. Under 50sq meters all in the same block is considered an exceptional risk by the Banks.
So how do I buy many more units positively geared and get the finance. I assume it will require a property rollover process using capital gain for future funding.
Stephan Holle