Here is my situation, I am 21 years old, I currently have 285k mortage which I've only had for less than 3 months, and am I wanting to get a second property for the mid 100 mark. I have a low income of 35k per year, however still do live at home. How i can purchase a second ip?
How do I get second investment property
- Thread starter younginvestor
- Start date
HI YI
Id say from a serviceability point YES.
I am making some assumptions on credit cards and rental incomes but yeah you should be able to get a 120 k loan for a 150 k place on top of your existing if you have no other outgoings.
Ta
Rolf
Id say from a serviceability point YES.
I am making some assumptions on credit cards and rental incomes but yeah you should be able to get a 120 k loan for a 150 k place on top of your existing if you have no other outgoings.
Ta
Rolf
Ahhh, but where do I get the remaining 30k?
Hi YI
What is the value of the first property ?
Ta
rolf
What is the value of the first property ?
Ta
rolf
285 at time of purchase, new tram lines have just been approved right near the property
Hi YI
Well done to get a 100 % mortgage first time round.
Simply, why not do it again.
Ta
rolf
Well done to get a 100 % mortgage first time round.
Simply, why not do it again.
Ta
rolf
well I cheated by using my parent house for equity 
B
brains
Guest
haha.......you coulda stated that in your initial post, might make Rolfs work a bit easier.
