We have spotted a pretty decent IP, should be able to buy for around $750k, being rented out at $900 per week. That's pretty rare, isn't it? I believe normally a $750k property can only be rented out around $650 pw.
This would be our 1st IP.
We have 20% deposit for this IP, plus a buffer of $30K, so how hard is it to obtain an 80% LVR loan for this property? (ie. borrow $600k)?
Hubby and I both earn 65k pa including super but before tax, but we owe $500k already on our house which is sitting at 80% LVR as well. I thought the banks were tightening their belts since the credit crunch?
Cheers all
This would be our 1st IP.
We have 20% deposit for this IP, plus a buffer of $30K, so how hard is it to obtain an 80% LVR loan for this property? (ie. borrow $600k)?
Hubby and I both earn 65k pa including super but before tax, but we owe $500k already on our house which is sitting at 80% LVR as well. I thought the banks were tightening their belts since the credit crunch?
Cheers all