hi everyone ,
any input is more than welcome,thanks.<>i live in outer west of sydney (mount annan) house value $310,000 and a mortgage of $88,000 VR forecast term 8 years 06 months, monthly payments $1,100 . i earn $60,000 pa . i have about $200,000 equity in the house. looking to buy a IP for about $200 to 250,000 to do a reno on and sale or rent .The question i have what sort of loan would be best suit me ? any input welcome ..
thanks hegHandyman & Gardening Maintenance Services
Mount AnnanIf you are going to sell, you would need a loan with low exit fees – this limits you to the major banks. You would also want an IO loan on the investment while you still have a loan on your own home. You wouldn't need an offset on the investment loan, but you should have one on your home loan.
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
Gday heggie67,If you want a hand with renovations give me a call, I would like to purchase another investment property so perhaps we can do a deal on labour etc? Colin 0425201055'A winner is responsible for more than his job. A loser says 'I only work
here'.' Richard Denny.thanks for your help terry, cheers mate
hi Colin , just sent you a email. cheers mate
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