Sorry limetorres.  Didn't explain myself fully.  Their loan could be the deposit on the house for you.

Hi linetorresYou are doing the right thing now.  Stick around the forums and watch, comment, ask and learn.Many young ones I know of that got into the market and did well are those that got in with help from parents as early as possible, bought a 4 bedroom home and rented out three rooms and added that rent to their payment on the property.  T…[Read more]

Hi nicoI have made a comment to Terry re loans but for you I would like to say that you should have no problems in owsning 5 properties by age 45.  As properties increase, the more you own the more equity build up you get:1 property x 10% = 10% = $300,000 = $30,0003 properties x 10%  = $900,000 = $90,0006 properties x 10% =  $1,200,000 = $1…[Read more]

TerryJust wanted to check here, I am reading that the second loan is on the first home and if so I thought that would not be tax deductable.  I would have thought that the second property should have a 80% mortgage using the first home equity as the deposit to get the best tax savings.Then subsequent purchases could be bounced off the investment property.

Welcome hostonbarry.  What's the big plan for Valentine's Day?  A proposal?

Hi Emerald MumNot sure about how to increase loan on your existing house but if you considered the renovation option you would want to make sure you do not overcapitalise and that you would get extra rent to make it worthwhile.I am tending to think that selling would be the option, transfer your loan to your new home (if it is transferrable) and…[Read more]