All Topics / Help Needed! / House purchase (second ip property) with minimum deposit

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  • Profile photo of coastacoasta
    Participant
    @coasta
    Join Date: 2009
    Post Count: 16

    Hi there
    im considering again to purchase a property to be as mi second ip (possibly live in there first to tidy it up) .
    I just do not want to spend all savings on taxes ,fees,  and deposit.   Is this possible to get a loan and pay very minimal for the property out of my pocket? I did want a new car or Boat this year!!  :)
    thanks all!

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    You might have some equity in the first IP that you can use for the deposit…

    Naturally, check you really want  and need the boat and car, and can afford it.  They are purchased with after tax dollars, after all (and do not generate income). I wonder how many IPs you could buy instead of a boat and a car :-)

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

Viewing 2 posts - 1 through 2 (of 2 total)

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