Well this is really an appreciable thread. It provides lots of information and share ideas among others. I just own my home nothing else. Regarding your query what I suggest you is to contact some good institution loan advisor who really help you. I am damn sure they have some solution to your query.
Pcuser
When you say equity is that actual or useable equity.
Does that take your loan to 80% or 90% of the current value as there is a big difference.
There are quiet a few variable to be able to answer your question but that is a good starting point.
Richard Taylor | Australia's leading private lender
I was told by a mortgage broker 6 months ago that I was 'at my limit' as far as my borrowing capacity was concerned. i found a new broker and bought another, cashflow positive, property two months later. Unfortunately that broker has now gone into another area of finance. But thru this forum I have a new broker and had an offer on a duplex accepted today, also cashflow positive.
Some brokers do not have the experience, knowledge or expertise to set up borrowing structures correctly for people who wish to build a property portfolio. Unfortunately, many of these brokers are not investors themselves and do not realise (or care?) that the way they propose structuring loans is detrimental to a person's desire to build a property portfolio.
When seeking out a new broker ask them whether they are property investors and if so, how many properties they have.
Further to previous post, the only broker that i met in the flesh was the one who told me i could not borrow any more money. Both of my other brokers are based in QLD, i live in regional NSW and other than my PPOR and newest purchase, i have not physically visited my investment properties.
In this day and age with the internet, email, fax and telephone we do not need to live in close proximity to where we invest or to our advisors.
cheers
Sonya
Steve for your information if you provide finance in Perth you need to hold a Credit License to transact business in WA.
Your mates at WWP dont appear to have such a license so maybe they cant help after all.
Richard Taylor | Australia's leading private lender
Richard
Seems like your reputation going up and up from this forum
Richard
Seems like your reputation going up and up from this forumGOM Yes always like to correct some of the rubbish and misinformation out there.
Amazing how many Brokers say it cant be done when often it is merely a matter of working out a way.
Richard Taylor | Australia's leading private lender
Yes I should make that clear. Actually those figures will take me to 100% of of the value of the property.
The potential sales values are
Property 1 $315k
Property 2 $380k
Property 3 $370kBy the way Property 2 is my PPOR
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