Hello people,
Just finished the book – GREAT! I’ve read heaps of others but this is definately the ducks guts for Aussie readers.My wife and I have just spent the last 18 months renovating (top job by the way) and are about to sell and buy on the river in the area a massive home with huge renovating potential. We also recently bought a buy&hold that pays for all bar about $65/mth. While I realise that this is not positive, there is a definate big growth in the area.
Recently we went to buy on 1 title, 2 single person units for pensioners which would sneak over breaking even. My mortgage broker turned me down as he said my current IP is taking up too much service-ability.
Is this right? Surely if the new IP makes $1 in profit the current shouldn’t matter?
Any comments?
Sorry about waffling on but I’m excited.
Thanks,Matt[medieval]
mailto:[email protected]#@$
I suspect your broker had some difficulty finding a lender who would do pensioner units. Did yo uget it sorted out in the end?
Well done on your reno – these things can really pay off. I did one recently and did well – looking for my next one atm.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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