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  • Profile photo of Stephan HolleStephan Holle
    Member
    @stephan-holle
    Join Date: 2005
    Post Count: 1

    My problem is FINANCE. I have 6 one bedroom units in Maylands Perth and a house in Dalkeith Perth. I did own another two units outright in Maylands which I sold to fund a purchase in Hong Kong. I have read the book 0 to 130 Properties in 3.5 years but didn’t find what I was looking for in terms of finance. Basically if 130 properties average $50,000 each with say 10% deposits not including other costs then just the deposits come to $650,000. My units are positively geared. That is purchased for $30,000 to $50,000 each and earning today rent of $110 per week each. Dalheith is rented buy negatively geared. a small drain only. The units are valued at $100,000 each and Dalkeith is valued at $1 million. Purchased for $640,000 with a $200,000 deposit. Banks will only take 50% of the rental and finance units to 66%. Under 50sq meters all in the same block is considered an exceptional risk by the Banks.

    So how do I buy many more units positively geared and get the finance. I assume it will require a property rollover process using capital gain for future funding.

    Stephan Holle

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    The only way to keep buying is to keep coming up with deposits. This can be done by saving madly, and/or capital growth, increasing value, buying and selling (at a profit!), wrapping, etc etc.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    Click below to email me

    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 2 posts - 1 through 2 (of 2 total)

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