From: Jay Hunter
Hi,
firstly, I want to let you know this a fantastic discussion forum! one day I hope I can also be in a position to offer some constructive advice to people looking at IP's.
I am wanting to buy my first home and would like to be in a position soon after to start buying IP's... this brings me to many questions!
I'm looking to borrow $230k to purchase a $400k unit (first home & will get the 7K). After I have some more of this paid I would like to start on IP's.
Once I find a home I'm happy with and stop renting (hate that)... I will have a mortgage of about $230K:
Do I get a variable rate mortgage and fix it later if int. rates start to rise ? Split the loan from the beginning ? hmmm so many options!
What do people think about the Westpac Rocket repay home loan ($300/year fee) ?
how much do I need to get the loan down by before I can start on IP's ?
should I own IP's in my name or place them in a trust ?
any help would be greatly appreciated.
Thanks
Jay
Hi,
firstly, I want to let you know this a fantastic discussion forum! one day I hope I can also be in a position to offer some constructive advice to people looking at IP's.
I am wanting to buy my first home and would like to be in a position soon after to start buying IP's... this brings me to many questions!
I'm looking to borrow $230k to purchase a $400k unit (first home & will get the 7K). After I have some more of this paid I would like to start on IP's.
Once I find a home I'm happy with and stop renting (hate that)... I will have a mortgage of about $230K:
Do I get a variable rate mortgage and fix it later if int. rates start to rise ? Split the loan from the beginning ? hmmm so many options!
What do people think about the Westpac Rocket repay home loan ($300/year fee) ?
how much do I need to get the loan down by before I can start on IP's ?
should I own IP's in my name or place them in a trust ?
any help would be greatly appreciated.
Thanks
Jay
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