Currently have three properties underway. One passive income, the other two developments. These three, in due course will exhaust my equity until I sell, re draw etc on the properties. As I am now more attuned to the opportunities surrounding us, I am determined not to let this small problem of not having the 20% equity to purchase my fourth property get in the way of my investing. However, It is not an easy road forward. I have another property lined up with a forecasted PBIT of around $90k.
Im sure this is a common hurdel most investors need to jump to get to the next level. Im working on a money partner & talking to finace institutions, all of which come back to the “You need 20% answer!”
Be grateful for any advice if you guys have had a similar problem, and successfully worked through it.How about asking for a long settlement, with small deposit, but offer a balloon payment at the end, taking off some of your $90k. That way, in 3 months, you can have your properties revalued, and redraw the increase in equity?
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