G'day,
we are pulling our hair out trying to understand what is the best method for setting up your loans when trying to increase your property portfolio. i have read numerous of the threads and am just getting more confused.
we want ot purchase our 2nd IP and our banker suggests using the available equity in our PPOR (55k) set up an investment loan to use as a deposit on the next place (hence avoiding LMI). or we just increase the loan for the IP and incur LMI....
also confused about setting up LOC, seems like alot of people do this and works well if you are budget conscious (which i think we are).
Can you seasoned investors let us know how you set up your loans please?????
thanks
we are pulling our hair out trying to understand what is the best method for setting up your loans when trying to increase your property portfolio. i have read numerous of the threads and am just getting more confused.
we want ot purchase our 2nd IP and our banker suggests using the available equity in our PPOR (55k) set up an investment loan to use as a deposit on the next place (hence avoiding LMI). or we just increase the loan for the IP and incur LMI....
also confused about setting up LOC, seems like alot of people do this and works well if you are budget conscious (which i think we are).
Can you seasoned investors let us know how you set up your loans please?????
thanks