What is a real estate?

Thanks for the comments so far guys.I'm looking the Orlando region, small multifamily arrangements similar to these:http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=17151421&SRID=1765699539&StepID=101http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=16643185&SRID=1765701263&StepID=101&LinkCode=20280Ideally…[Read more]

Fair enough lads, I guess as long as you're generating enough income to service the debt, and the banks are happy with your LVR's, then it's all good, I'm just uncomfortable with the idea of using debt as a deposit, but each to their own. Play on.

yorknxy wrote:
i JUST BROUGHT IT. AND IT'S MY FRIST HOME. i HAVE TO WAITING 6 MONTH.    i NEED 50000 FOR HOME IMPORV  AND PAY BACK SOME MONEY FOR MY FRIEND.   

<moderator: delete flame>Your question is very confusing. You say you own this unit outright, but that you can't get a loan because major lenders won't lend for such a small unit.…[Read more]

Are you telling me there is skill involved in borrowing money against the equity in your house and then buying another one? I wouldn't get too carried away there buddy.

Correction – It's how high risk investors operate.

Jamie M wrote:

orks wrote:
What the hell kind of financial institution lets you use a line of credit as a deposit? It concerns me that someone who structures their own finances like that is out there arranging loans for people.

Pretty standard structure really. Take out a LOC or a seperate IO loan against a PPOR to be used as a deposit…[Read more]

Jamie M wrote:
We had our PPOR re-valued and took out a Line of Credit for $50k. This was used as a deposit for IP#1 and IP#2.IP#3In May 2010, we exchange on IP#3. It’s a three-bedroom house in Canberra. The deposit we used was from a Line Of Credit we took out  on IP#1 (after renos, we had $40k in equity we could access). We're now on the sea…[Read more]