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  • Profile photo of HappyBanditHappyBandit
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    @happybandit
    Join Date: 2003
    Post Count: 8
    June 6, 2005 - 7:48 am

    Hi Mobile Mortgage

    The reason is because I purchased IP #1 for 266,000 and IP#2 for 320,000 so I needed some 40 or 50,000 in equity from my PPOR. Not sure how much equity I have left from that. Is there a way to find out? If so, would it be easist then to use this remaining equity to put down on a CF+ property?

    CHeers

    Profile photo of HappyBanditHappyBandit
    Member
    @happybandit
    Join Date: 2003
    Post Count: 8
    January 1, 2004 - 8:29 am

    Thanks Richmond

    No I totally understand people’s desire no to answer this question, but like Steve says, “You can only ask”.!!!! Moreover I believe in assisting other people in society so if I know of sound investment areas I would like to think that I would inform people of these areas so they too can enjoy the good life.

    Then that’s just me!!!![:)]

    Cheers

    Profile photo of HappyBanditHappyBandit
    Member
    @happybandit
    Join Date: 2003
    Post Count: 8
    January 1, 2004 - 8:18 am

    Hi SIS

    No I’ve read the book 3 times now. The question I asked I thought was a reasonable one. I mean I know that Steve used a number of techniques including equity and wrap but I am a little sceptical I guess of how this many properties can be accumulated using techniques, particularly equity redraw. As you know a lot of properties in QLD particularly have had a boom which means that the appreciation is low and therefore equity in these houses low (assuming repayments are standard and no extra repayments made). Thus my understanding is that it would take longer to obtain a portfolio of this sort and relish a passive income earlier.

    Are you following what I am saying or have I lost the plot>????

    Cheers[:)]
    HappyBandit

    Profile photo of HappyBanditHappyBandit
    Member
    @happybandit
    Join Date: 2003
    Post Count: 8
    January 1, 2004 - 7:37 am

    Hi Guys

    Interesting perspective. So I wonder how Steve was able to obtain 130 properties in such a short time? If I didn’t use the WRAP technique is it still possible to accumulate this many houses in such a short period of time simply by using the equity from each investment house?

    The question again of course is what if the property does not appreciate enough to produce this equity or you can’t pay the debt off soon enough?

    I welcome responses

    Cheers
    HappyBandit

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