You’ve got the theory side right, 20% down borrow 80% etc. But I think a lot of people on the forum underestimate the processes in setting up appropriate loan structures.
Most banks are more than willing to lend for 1 or 2 properties initially, based on the 80% lend, but to borrow larger amounts for more ip’s, you generally have to show them that…[Read more]

Finnie
Sounds like you have a good mix of enthusiasm and caution between the 2 of you. Try to encourage your partner to become more involved in property investing, more educated and with your natural positive outlook on things, you will probably find a happy medium.
Remember that it can’t happen too quickly for most people, and to be a full time…[Read more]

Youre right in that you can ‘theoretically’ buy 8 i.p’s worth 100k each, working on the basis of 20% deposit. The banks will lend you the remainder that is required, but will have 1st mortgage over the property until you pay them back.
However, it is unlikely that a lender will finance all 8 at once. Take your time, find a good income producing…[Read more]

It depends on your relationship with your lender. If you have a good history with a lender, and understands your situation, they wont consider passive income only as too rent reliant. I have recently walked away from my business to concentrate only on investing,as I have a comfortable passive income from I.P’s, but checked with the 2 banks I deal…[Read more]

Mate, I reckon it depends on your situation. If youre living at home and thats no dramas, then you can make the most of it and rent your property for as long as you can and either use your excess funds to pay the loan quicker or to finance a second property.
But if you need a place to live then personally, its great to live there, pay off as much…[Read more]

Could’nt agree with you more mate. I’m 29, and have been fortunate enough to have a good education, financially from home to enable me to retire from working. But I did this with a view to be able to make a difference in exactly what youre saying. To much emphasis is placed on scholastic results, rather than giving lessons in life!
There are some…[Read more]