All Topics / Help Needed! / Equity in my property

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  • Profile photo of kingmikekingmike
    Member
    @kingmike
    Join Date: 2004
    Post Count: 4
    March 16, 2005 - 1:47 am

    Hi there, I have an an invesment property in the UK and since I purchased the property it has doubled in value.
    I am still currently travelling the world but will be back home soon and I want to work hard to obtain more investment properties.
    As I have plenty of equity in my property is it a good idea to remortage the propert to relese the money so I can build on my property investment portfolio? or should I leave that property alone and get the money from elsewhere.
    Currently the rent covers the mortgage with out a problem so I have can increase the mortgage with no money loss from me. I also plan to increase the rent as well.
    I was also contemplating investing in Bulgaria as from what I can see the posibilities of good returns are good there. Does anyone have any knowledge of this?

    Many thanks
    Mike

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 16, 2005 - 6:46 am

    You could increase the loan and use that to further your investing, but this is more risky (still low though) and it should speed up your acquisition of more property.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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