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  • Profile photo of brad85brad85
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    @brad85
    Join Date: 2009
    Post Count: 3
    December 18, 2009 - 3:16 am

    Thanks for the advice guys, much appreciated!

    I am certainly keen to avoid LMI where possible. I am having a meeting with the broker I used when purchasing my PPOR, to get some "non bank" advice on this.

    The thought of finally getting in to investment property is quite exciting.

    Brad

    Profile photo of brad85brad85
    Participant
    @brad85
    Join Date: 2009
    Post Count: 3
    December 16, 2009 - 1:25 pm

    Thanks for your replies guys.

    I suspected having the 60k in its own loan (loan 2) would actually be better.

    I assume I'd setup an equity access facility which would simply give me access to the entire amount of equity (60k assuming the PPOR is valued at 450k) and mirror loan 1's interest rate, is that normally how it works?

    Furthermore, if I do buy the IP, as all equity in my PPOR would be borrowed against, how do I then buy more properties in future?
    The way I see it, I'm 100% financed and the unless I build up extra equity in either of the two properties, either by growth or my own cash, I'm not going to be able to buy any more.

    Is that correct?

    Regards,
    Brad

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