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Newbie Scenario Sense Check
The bit that doesn't make sense is the 300 value on IP1 with a 300k loan. You need to get that clear. I think your bank is talking about increasing the loan on your PPOR by say 75k to 345k, and your new IP has a loan of maybe 240k.- alexlee
- Post #5
- Forum: Property Investment - Other
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Newbie Scenario Sense Check
Are you saying they'll lend you an additional 300k for an IP? What LVR will the new loan be at? Where is the deposit coming from? Are you talking about refinancing the PPOR and use the excess as a deposit? Or cross col? With a 300k property yielding about 5% gross, 3% net, 105% effective LVR...- alexlee
- Post #2
- Forum: Property Investment - Other