All Topics / Help Needed! / Where to from here?

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  • Profile photo of Jaidyn98Jaidyn98
    Participant
    @jaidyn98
    Join Date: 2020
    Post Count: 0

    Hi i’m Jaidyn (21), bought my first house just over 2 months ago and it was almost cashflow positive, (wish i had read the books before then) anyway it is about to be cashflow postive. The issue is i’m not sure where to go from here, i am currently casual in 2 jobs now but have a steady income. but the banks don’t want to lend to me now becuase of being casual. i don’t have a deposit currently as i have been putting towards my house to reduce the loan amount.

    i would like to keep investing but not exactly sure how to progress forward at this current stage.
    Any thoughts or suggestions would be great :)

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    Got an offset account to save into instead of paying extra off the loan?

    You might need to go fulltime if you want to borrow further.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Jaidyn98Jaidyn98
    Participant
    @jaidyn98
    Join Date: 2020
    Post Count: 0

    i was thinking that i would be able to redraw from the loan (the extra i have been putting in) for the deposit.

    would that be an option? becuase i should be paying slightly less interest if i have less on the loan.

Viewing 3 posts - 1 through 3 (of 3 total)

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