Here’s one for forumites to get their collective teeth into…
Aus PPOR valued at $375k – Owe $220K – $135k personal LOC plus $85K investment LOC…
Investment LOC currently has $48k sitting in it being slowly eaten away by monthly interest…
4 x CF+ IP’s in NZ owned through Aus company & trust set up – Cannot refinance further – Wont sell 1 or any – Not quiet enough CF+ to bring back any realistic cash each month…
Wanted to buy block of land in QLD for 135K – Build 4 bed 2 bath for another $135k – Sell for profit.
Biggest problem is serviceability for new construction loan – collective annual gross income $43K…
Finance broker has said “Best I can get on Low Doc Construction is 80% at 8.5%”
Doing the math this just does not work out… Soooooo question to forumites is there something I’m missing or can you suggest another way to invest the 48K sitting in investment LOC to create cash flow?
Stumped and feeling boxed in… [grrr] Cheers, Nobleone
“Making mistakes is just another another tool for learning.”
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