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Thanks very much Fozzy.
Goodonya LA Aussie. The picture is coming more into focus as the discussion expands. I’m hoping my lender will let me leverage to 90-95% without mortgage insurance. How many IPs should we have with the same lender???
Great explanations qlds007 and terryw. Our brain cogs are turning now. Will be talking to my lender with your info in hand.
Thanks for your input Qlds007- Is not selling the house a slower way acquiring the 5/6 IPs? The reason I’m questioning yours and terryw’s response is I’m sure I read in Steve McKnights new book, that selling the ppor could be the way to go about investing. Anyway the comments are great and are helping.
Hi terryw- Thanks again for the perspective. Very useful and interesting forum.
Thanks for a comment that stops and makes me think. Especially one from a loan professional. Curious. If we don’t sell we have our house last valued @ $380000 with $105000 mortgage. We have our investment property that’s worth $180,000 leased @ $969pcm, which we bought using equity in our house. Our loan people say we have around $24000 equity left in the house and then the security in the investment property. I’d like to get 5/6 positive cash flow properties in the next 12 months, so with strong deposits don’t i still ahve good equity created as well? Are you as a lender worried I’m putting myself in a precarious situation, thinking conservatively? Interested…TapFam
Originally posted by Terryw:Your home is the only CGT free asset you can have so giving this up is going to be costly. If you do decide to do it, maybe you could move into another property and then out again to take advantage of the 6 year rule for absences from your main residence – or maybe just rent out your current home?
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Thanks for your thoughts. It’s where I’m leaning but what of terryw’s comment?
Originally posted by The Contrarian:Hi there…
I think you are on the right track here.
If you’re not to fussy about which property you live in etc…
there are some great advantages…For eg. if you are to place some good deposits on say 5 investment properties and rent… Perhaps you can then claim your rent as a deduction with your business (plus utilities etc)…
You’re in a great position where you can purchase over a million dollars worth of cash flow positive properties… which can in the future provide $1000+ passive income per week.
Choose well and see this as your retirement package…
Think of properties that you will be comfortable with in 20 years time…. ie. good location, good return, good demand.
