Jaidyn98Participant@jaidyn98Join Date: 2020Post 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 :)TerrywParticipant@terrywJoin Date: 2001Post 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.Jaidyn98Participant@jaidyn98Join Date: 2020Post 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.