p@cketeer replied to the topic First time investor in the forum Help Needed! 9 years, 11 months ago
hi richard,
after computation, i’ve found out that my borrowable or useable equity is 92K.
based from my readings, simple rule of thumb is to multiply the useable equity by 4. Which means my max purchase price for IP must be within $368K mark? Is this the norms? Will this avoid me paying LMI if I will use this rule?
The useable equity can be…[Read more]
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p@cketeer replied to the topic First time investor in the forum Help Needed! 9 years, 11 months ago
Thanks Benny and Richard.. that’s very helpful to start with.
I’ll check those articles.
Cheers,
P@cketeer -
p@cketeer replied to the topic First time investor in the forum Help Needed! 9 years, 11 months ago
Hi richard,
I’m referring to property equity. what is borrowable equity?
Also, not sure how much is the maximum that i can borrow with my current equity. what do you mean by 100% + cost? Does it mean that i can only buy a property within $190k mark?
Sorry for the questions. Just started learning these terms in IP.
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p@cketeer started the topic First time investor in the forum Help Needed! 9 years, 11 months ago
hi everyone, i’m newbie into property investment. Not sure if we can still penetrate into Property Investment. Our current status, we’ve got 190K equity in our PPOR (recent valuation) but only got 10K of cash savings.
We haven’t invested into anything but we wanted to try this PI as we’ve read/seen good results based from reading…[Read more]
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p@cketeer became a registered member 9 years, 11 months ago
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