There are certain details I didn't share as I wanted to keep at least a few things private. My main aim, though, is to encourage others to have a go and not be afraid to do so. It's a bit if a trade off.
The loan I took out for IP 6 (June 2008) included an additional amount which was captialised interest and it sat in an offset account o be drawn down over time to cover the shortfall. As it turned out, rates started to drop after that and the rate cuts left me able to fund the shortfall with the same out of pocket contribution that I was making prior to buying IP 6.
So, yes, I would have been relying on capitalised interest had rates not fallen so dramatically. That money has now been reinvested in other business ventures that are providing good returns.
IP 7 was funded (20% plus settlement costs) using equity from 2 other properties, extracted during the refinance process plus a loan for the 80% balance of the purchase price.
IP's 5 & 6 were cross collateralised with IP 1 to get the deals over the 80% LVR line and avoid LMI.
Hope that answers your question.
