Hi All,
Keep reading articles about people being able to keep purchasing properties (ie magazines such as property investor) – we have 3 kids and stacks of equity but even though we know we can afford to keep purchasing properties the banks look at us poorly. Really interested in how people keep doing it???? Replies would be helpful. Are properties with good depreciation/tax benefits best or properties with positive gearing from day dot. Feedback would be greatfully appreciated. Jacksson….
Hi Jacksson
Hard to provide a structured answer without more soft data however bear in mind that when it comes to an investor lending policies change dramatically.
What one lender will go to can be totally different with another.
There can be a hundreds of thousands of dollars difference.
All boils down to how the loan is structured and presented at the point of sale.
Richard Taylor | Australia's leading private lender
Basically all you need is the income!
Try earning as much as possible. Put your rents up as high as possible. and keep credit card and other debts as low as possible. And then shop around.
Some lenders allow interest to be added back when calculating borrowing capacity – some allow depreciation for existing properties as well.
This is really all you can do.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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