i have read steve's book and have a basic understanding of what is required. I have $100K in cash and earn $90K pa in my current job. My home that i live in is valued at $320K and i owe $262K on it.
What is my first step?
should i see a lawyer and establish a trust?
then try to source Cash Flow Positive Investments?
when applying for a loan should it be in the name of the trust?
any advice and comments would be helpfulthanks!
Hi seabar
Firstly welcome to the forum and I hope you enjoy your time with us.
Before you rush in and form a Trust think about the sort of property you wish to buy and whether the strategy is for you.
Have you looked at how you are going to structure the loan and whether you intend to use cash or equity as a deposit.
A mortgage broker is a good place to start as you can assess your borrowing capacity and also get some advice on how to structure your loan set up to enable you to carry on buying when you want.
Richard Taylor | Australia's leading private lender
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