after a recent inheritance i am left in a fortunate position of owning 50% of a property, debt free and after a valuation having approx. 300k in equity.
I am now looking to purchase further investment properties and would like some ideas thrown around as to what is the best way to make the most of that equity. the property is currently bringing in 8k in rental income for my share per annum as well.
cheers
One idea is to establish a line of credit against that property and use it to fund deposits for new properties.
You would need the cooperation of the other 50% owner to do this.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Yes as MH has said – you’ll need the authorization of the other 50% owner.
I would suggest since you are debt free, that you release some equity in the property and purchase some cheap rental properties of 70k each either in rural towns or in NZ.
Best regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
<<<<<I would suggest since you are debt free, that you release some equity in the property and purchase some cheap rental properties of 70k each either in rural towns or in NZ.>>>>>
I dont. I suggest you read Steve Mcknights book, Peter Spanns latest book and any of the Books by Jan Somers.
Then decide whats best for you. Take into account your income, lifestyle and how aggressively you want to invest. But dont rush into buying rural properties in Aust or NZ.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
