If your aim was to accumulate as many positive geared IP’s as possible in the quickest amount of time possible, you would have the problem of getting the deposit for all the multiple IP’s. Besides, wraps, lease options and similar things, is there a way around this problem?
Hi,
To meet lenders criteria then basically only through a) having rich friends with very deep pockets or b) getting very high yields or short term equity gains that you quickly increase lends against and onwards and upwards, definitely get a broker onboard too. Some examples: 1) buying an old three bedroom house, doing a cosmetic reno and turning it into a 5 bedroom house through sacrificing living room/garage etc and renting it to students at $90+ per room, 2) buy block of 6 flats on one title, reno, split and sell 4 to cover costs, keep 2 and earn ‘free’ income and use equity for next lend … etc etc.
Minimogul’s a bit of a legend in this department, look around there’s heaps of ideas here.
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