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From: Mike .


First IP
From: Rasputin
Date: 05 Feb 2001
Time: 21:48:54

I have high income >$100,000, have just recently purchased my own home mortgage approx $160,000 but no equity there, I own shares valued at over $30,000. Other investment loans of over $80,000

My question is can I get a loan with no equity except in my shares. I would prefer to find a positive geared property so as to increase my Cash flow....
 
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Manny

Reply: 1
From: Mike .


Re: First IP
From: Manny
Date: 06 Feb 2001
Time: 07:54:46

If you think your house is worth more than what you paid, I would look at getting it valued hoping the valuation will be above the amount you paid to start (which can be some of the valuable equity you needed)... Now in relation to shares, some banks consider them as equity, but if I remember right they only consider around 70% of their value as equity due to share fluctuation (you may need to clarify this with banks)...

PS: did you get the $7,000 first home buyers grant? if so, it could be some of the equity you can tap into when you have the independent valuation...

I hope all goes well...
 
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