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  • Profile photo of dansiopdansiop
    Member
    @dansiop
    Join Date: 2004
    Post Count: 3
    June 28, 2004 - 6:40 am

    Hey. I am new to all of this and am reading Steve’s book now. My question is how does he get so many mortgages? ISnt there a limit on how many you can have – how does this work? Thanks, Dan

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    June 28, 2004 - 6:50 am

    It all comes down to deposits. If you keep coming up with the deposits, you can keep getting loans. That’s the hard part!

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

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

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

    Profile photo of dansiopdansiop
    Member
    @dansiop
    Join Date: 2004
    Post Count: 3
    June 28, 2004 - 6:54 am

    Thanks for that – so as long as you make enough profit on property no 1 to put a deposit down on another house, you can then go ahead and buy propert no 2. Excellent!

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    June 28, 2004 - 7:04 am

    That’s ok.

    I might add, that you may require larger deposits as time goes on. ie it gradually gets harder to get finance, but it is always possible.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

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

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

Viewing 4 posts - 1 through 4 (of 4 total)

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