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 :)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://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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.
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