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Hi,
I ended up in a similar situation. I bought a house (new PPOR) before able to sell my flat (1st PPOR) so I rented the flat out. Problem being the equity was in the flat and I had a huge mortgage. After some advice from my accountant I sold the flat, have moved a bit of equity into the house. So now I have a healthy bank balance and equity in the house so I can go out and do more investing….
I remember the phrase from the Masterclass I attended in Brisbane – got to breathe out before breathing in again!!
The bank now happy to lend me more money [biggrin]
Good luck!!
Regards
Pip
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