Hi Just wondering if any one can help me i want to buy my second investment property….but i really want to fund the whole deal with my current investment property…lets say for agrgument sake i want to buy a property worth $90,000 how much equity would i need in my current investment to fund it all from that???????
thank you all in advanced
if any one has a story to share on how they funded there second property i would love to hear about it[exhappy]Generally the max you can borrow is 95% of the value of both properties. so, eg.:
Current IP
Val = $100,000
Loan = $85,000New = $100,000
Loan = $105,000Total Valu = $200,000
Total Loans = 190,000overall LVR = 95%
Terryw
Discover Home Loans
Parramatta
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Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Kristine
If you can find a motivated vendor why not give him the price he asks(as he is expecting offer 10% below anyway) and ask him if he will leave 10 or 15% deposit in for you as this will reduce your upfront costs
If you can do it without a real estate agent involved there is more room for negotiating on the price
Remember there are no set rules as far as for buying or selling so be a little creative with your offersPaul Meese
Onyx Finance
[email protected]
0412 850 820
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