Hi,
I am looking for some advice on getting another property investment loan. My wife and I both operate our own businesses and only have 1 tax return each from these newish businesses with a combined income of approx $95,000(08/09). However this year (09-10) the combined total will be approx $170,000
We currently own 2 investment properties. A unit in Sydney worth $450,000 (loan $312,000, rent $600/week) and a terrace in inner west Sydney worth $750,000 (loan $512,000, rent $700/week). We live in a very nice rent free deal and have no other loans etc.
I have spoken to our mortgage broker about getting another loan and he said we will have to wait till we put in 09/10 tax returns. I just wanted to know if there is a more immediate way to get a loan? Ideally by refinancing and using some of our existing equity.
Thanks
I am looking for some advice on getting another property investment loan. My wife and I both operate our own businesses and only have 1 tax return each from these newish businesses with a combined income of approx $95,000(08/09). However this year (09-10) the combined total will be approx $170,000
We currently own 2 investment properties. A unit in Sydney worth $450,000 (loan $312,000, rent $600/week) and a terrace in inner west Sydney worth $750,000 (loan $512,000, rent $700/week). We live in a very nice rent free deal and have no other loans etc.
I have spoken to our mortgage broker about getting another loan and he said we will have to wait till we put in 09/10 tax returns. I just wanted to know if there is a more immediate way to get a loan? Ideally by refinancing and using some of our existing equity.
Thanks
