I have two IPs, one is a normal IO mortgage and the other is a LOc.
The bank has just valued the two IPs and said that the total equity is $30000.
I am looking at using this equity to buy a third IP. Should I ask the bank to increase the LOC by $30000 or is there a better way of structuring the loan for the next IP.
I am also going to use a LOC for the third IP.
Is this the correct way to do it?.
nakal
The bank has just valued the two IPs and said that the total equity is $30000.
I am looking at using this equity to buy a third IP. Should I ask the bank to increase the LOC by $30000 or is there a better way of structuring the loan for the next IP.
I am also going to use a LOC for the third IP.
Is this the correct way to do it?.
nakal
