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tmlnets
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@tmlnets
Join Date: 2011
Post Count: 7
June 3, 2011 - 5:56 am
Are you located in Sydney NSW? if so, i know of a guy who has done it for around $40K.
Dont think he is licensed though in building……
I think he is licenses as a capenter…..
tmlnets
Member
@tmlnets
Join Date: 2011
Post Count: 7
June 3, 2011 - 12:43 am
Does using existing equity to buy more properties really work?
ok scenario
a. property 1 cost $200K, paid off $50K in 5 years and now the property is worth $400K and remainig loan $150K
ok since the property is now worth more we can refiance and borrow 80% of the $400K than is $320K to use to borrow the 2nd investment property.
What i dont understand is now the debt is actually $320K + $150K = $470K debt….
If we continue to do , wouldnt the debt be higher and higher? how can one pay for this on a average salary?
tmlnets
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@tmlnets
Join Date: 2011
Post Count: 7
June 3, 2011 - 12:15 am
I think the idea is to limit the number of people to have multiple properties. I guess is all about supply and demand, if the government include a tax levy onto property investor this may deter them from buying more and therefore less demand on the short supply of property.
In saying this, i think this only applies to property that has establish infrastructure and areas that are undersupply closer to the major capital cities. The effect is not all investors buy near the CBD. So, if they put in this levy this will affect new growth to those areas require new investments.
tmlnets
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@tmlnets
Join Date: 2011
Post Count: 7
May 31, 2011 - 2:37 am
hehe ok …. didnt mean to be rude
tmlnets
Member
@tmlnets
Join Date: 2011
Post Count: 7
May 31, 2011 - 2:17 am
great thanks. i’ll add that into my list …. cheers