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  • Profile photo of WJWJ
    Participant
    @wj
    Join Date: 2010
    Post Count: 5
    January 28, 2010 - 6:17 pm

    Hi Terry,

    Thanks for your answer.

    'seperate loan number' was mentioned in the book, Steve didn't elaborate on it except for that he was $10K out of pocket because he didn't have a seperate number. I have no idea what he meant by the term and how it costed him money.

    In your previous post you wrote:

    IP1
    Loan C, IO loan.

    What's IO loan?

    If I'm self employeed, how can I structure my properties in a way that would allow me to continue get loans approved while not building a potential domino of risks, that one failure would cause the whole construction to collapse.

    Profile photo of WJWJ
    Participant
    @wj
    Join Date: 2010
    Post Count: 5
    January 26, 2010 - 7:26 am

    Hi Richard,

    I've only read it in the book and I didn't understand, thus the post.

    Could you give me an example of a correct structure of loans vs a risky one?

    For example if I have one primary residence and three IPs, what would be the best way to structure the loans as to avoid cross collaterialisation? What are the risks involved with cross collateralisation of loans and how to manage such risks?

    Profile photo of WJWJ
    Participant
    @wj
    Join Date: 2010
    Post Count: 5
    January 22, 2010 - 3:00 am

    Hi all,

    I called up the office and guess who answered the phone? Steve himself! *star struck*
    Steve nicely explained to me that the resources section will be uploaded with the new website which should come online soon!
    So here's the answer to our question.

    Cheers,
    Wendy

Viewing 3 posts - 1 through 3 (of 3 total)