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From: Glenn M
Hello all you budding Property Investors. This is my first post...have enjoyed the previous posts and discussions.
I have been to a number of Seminars lately that utilise the principle of purchasing an IP,rejuvenating/renovating and then having the IP re-valued.
The next step is then to draw down on the 'equity' (usually 80%) and use this as a deposit for another immediate purchase. So, do they mean that 'drawing down on the equity' means the establishment of an Equity Loan? Or am I just missing a basic principle somewhere?
Another quick question in regards to revaluing. Do all full (i.e not drive by) valuations usually cost around $500-$600? Have any investors successfully used the above-mentioned principles?
Thank-You in advance.
Glenn.
PS. I hope somebody out there answers me!!!!
Hello all you budding Property Investors. This is my first post...have enjoyed the previous posts and discussions.
I have been to a number of Seminars lately that utilise the principle of purchasing an IP,rejuvenating/renovating and then having the IP re-valued.
The next step is then to draw down on the 'equity' (usually 80%) and use this as a deposit for another immediate purchase. So, do they mean that 'drawing down on the equity' means the establishment of an Equity Loan? Or am I just missing a basic principle somewhere?
Another quick question in regards to revaluing. Do all full (i.e not drive by) valuations usually cost around $500-$600? Have any investors successfully used the above-mentioned principles?
Thank-You in advance.
Glenn.
PS. I hope somebody out there answers me!!!!
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