Hi all,
I am new to the forum and am so looking forward to some constructive criticism. I would love to buy, renovate and sell properties but have hit the wall. I allready have an investment property in Tasmania I purchased 16 months ago and has increased in value by 70K allready. I don’t seem to be able to raise the money for more properties and it seems the only way I can do this is by selling the house in Tassie. What do you think?wrp
Hi WRP & wellcome to the forum,
Have you considered raising the deposit for the next purchase via current equity?Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Thank you for your interest. Between my home and my property investment I have approx. 370k in equity but that still doesn’t seem to be enough
wrp
Surely, if you have an income, you could borrow. Even if you are unemployed you could borrow if you had this much equity. As a last resort, you may be able to get ‘private’ type loans. These are around 8%+ interest, but very little questions are asked. For security located in major cities, you should be able to get 70-80% LVRS. It owuld be harder in Tasmania tho.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You must be logged in to reply to this topic. If you don't have an account, you can register here.
