- thebiglachieParticipant@thebiglachieJoin Date: 2020Post Count: 0
looking at getting in the game but just gathering info and research
im looking at becoming financially free the earliest or safest way as possibly
i had someone advise me to do a interest only loan for 7 years to make the most positive income and gain equity. But I do realise after this time the repayment will be higher but then I’ve been told to do a refinance for another 7 years.
i have multiple questions once let’s say the equity goes up after 7 years would it be best to refinance for interest only or to go P and I? After 7/14 years equity goes up would it make sense to sell and if I was too would the debt be for the initial purchase price?
any advice about this or anything in general would be hugely appreciatedRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Welcome aboard the forum and hope you enjoy time with us.
I have given a number of interviews to the API magazine about how i started and built my property portfolio.
Feel free to shoot me an email and I would be happy to send you the article.
Yours in FinancethebiglachieParticipant@thebiglachieJoin Date: 2020Post Count: 0
Yes I would love that!
cheersRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024