Forums / Getting Technical / Finance / Possible to borrow?

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  • Profile photo of BrizzaBrizza
    Participant
    @brizza
    Join Date: 2003
    Post Count: 73

    100k annual income.
    Have 1 IP which is positively geared by $100 per week (income included in above 100k figure).
    1st IP conservatively estimated at 300k, with 150k mortgage.
    No deposit saved.

    I would like to buy another IP for between 600k to 700k.

    Would it be possible?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 11,975

    Hi Brizza

    Certainly on the surface with some restructuring it appears possible however a fair bit of important data missing to provide a more constructive answer.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of George PoullosGeorge Poullos
    Participant
    @york-p
    Join Date: 2015
    Post Count: 8

    Hi Brizza,

    Whether you can or can’t borrow anymore cannot be determined by such a small amount of info. It would be irresponsible to give you an answer without a full assessment of your financial situation.

    If you’re want to know if you can borrow more, get in touch with a good broker who can assess your situation and give you an accurate idea of what’s possible for you.

    George Poullos | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Finance Strategist & JP

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