Hello, this is my first time in this forum i have just found it about 10 minutes ago. My question is can i buy multiple properties. I have equity of approx 500k joint income with my wife is approx $5258 per month. The better question is is my first step determining my borrowing capacity. Thanks
You can do anything you want. 500K in equity alone would buy you more then one property. The sky is the limit.
Plenty of equity and assume cash,go for it
Plenty of equity and assume cash,go for it
Hi Darren,
Decide what your want to achieve. I don’t know your ages, location or aspirations for life, but I reckon the first step is to decide your needs for your future, your wants for today and tomorrow and how you can use the 500k to maximum benefit. Planning is the key, otherwise you are an easy target for get-rich-quick schemes.
It sounds like your borrowing capacity is fine.
Choose whether your plans coincide with your investment choices. That is whether you want property, shares/stock, art, managed funds etc as investments. Dealing with 500K or there abouts you might want to talk to an accountant or someone you trust other than family and friends(as friends are great to talk to and family you may trust, but you can hardly invite them round for a B-B-Q if they’ve just helped you loose 300K!)With 500K, depending on whether you do 90% LVR or 80% LVR, whether your looking at commercial property, residential etc will determine how many you can do.
Also do your research on anything you opt for, PRIOR to giving out your money.Hope this helps some as I’ve just gone through the same process with a lot less than 500K.
Cheers and congrats on your first posting [
]Sooshie [
]p.s I was once told, ‘There are no problems only solutions’
It’s all our imperfections that make us perfect!
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