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  1. Piston Broke

    How many banks do you use for your property loans?

    The old fashion way: I have X and want to buy XXXXX, and ask the bank "do you want my biz?" I think what your saying is like "playing with the houses money", but in RE unless your total LVR is very conservative, then it could be tricky. It also seems like your saying "if one IP becomes...
  2. Piston Broke

    How many banks do you use for your property loans?

    I'm with him ↑ If the situation ever arose, that you lose none of your money is fantasy. And given from your postings that at least some of your IP's are fairly CF-, then even if the sale price breaks even you've lost your own money. I've often posted (& boasted) about dealing & negotiating...
  3. Piston Broke

    How many banks do you use for your property loans?

    Sometimes it's the only way to keep the "debauchery" going. And of course you supply the handcuffs, gaffa tape & rope, while they bring the stillettos. :eek:
  4. Piston Broke

    How many banks do you use for your property loans?

    While good points have been made i think you need to look past all that. If you had a managed protfolio 5 IPs with separate loans, and one got a margin call what would be the result? You either come up with the extra $$ or get foreclosed. If you get foreclosed and the bank realises a...
  5. Piston Broke

    How many banks do you use for your property loans?

    Well know that there's a lot of details missing here. If the bank issues a margin call, having other properties with other banks would'nt benefit the situation a great deal. You still have to come up with the $$ or be repoed. "unspecified amount"? I know of margin calls but it seems strange if...
  6. Piston Broke

    How many banks do you use for your property loans?

    Gotta go wif da flow. You go wherever is convenient when it's convenient when you have the choice. Sometimes there's no choice, so you have to be patient and hammer it out for a while. Sounds nice to be with only one, but not practical imo. It's good to have a nice chunk that you can move...
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