Hi,
This is my first post so i hope i do it right.
I’m wondering how you can continue to buy more and more properties when the bank manager keeps telling me it’s about the ability to repay.
I have about $280,000 in equity (well my dad does as he’s my partner) and he only earns around $700 gross a week. He qualifies for a loan of $230,000.
We have plenty of equity for deposits but it seems we won’t be able to use it as we can’t get the future loans.
We are new to this and are looking at buying our first positive cashflow property (when we find one) Any help would be appreciated.[confused2]