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  • Profile photo of Greg FGreg F
    Member
    @greg-f
    Join Date: 2004
    Post Count: 83
    February 10, 2005 - 10:39 pm
    Originally posted by lifeX:

    I can increase my current total property portfolio at 80%LVR by 170% at a cost of 3% LMI + refinance costs.[devil]
    What are your thoughts on this? Lifexperience

    Hi LifeX

    I’ve done very well over the past couple of years by increasing my LVR (otherwise known as “due diligence gambling” [biggrin]) so I could buy more property. I’m comfortable because:
    1. It’s a short term strategy
    2. I have a concrete plan in place
    … to quickly rebuild my equity back to more comfortable levels.

    It’s not that I’ve just benefitted from the recent boom. I did benefit, of course, but I’m still buying. As long as you feel confident you can “do things differently” (thanks Steve) by adding value with your knowledge / experience / local knowledge (and I know you can do this LifeX), then I say GO FOR IT.

    Cheers
    Greg

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