Evening all, fairly new to this forum but find it great for info..
This might have been asked before but unfortunatly I havent found it, so here it is...
We currently have a few investment property's, all have a reasonable amount of equity in them, however we now find that our income will no longer support new loans.
What we would like to do is continue building the portfolio and utilise a line of credit to make up the short fall between the rent return and the holding costs, but we find that the normal loans only look at your income capacity not allowing you to utilise the equity in a line of credit to fund any short fall.
Does any one have any suggestions as to how to over come this funding opsticle.
This might have been asked before but unfortunatly I havent found it, so here it is...
We currently have a few investment property's, all have a reasonable amount of equity in them, however we now find that our income will no longer support new loans.
What we would like to do is continue building the portfolio and utilise a line of credit to make up the short fall between the rent return and the holding costs, but we find that the normal loans only look at your income capacity not allowing you to utilise the equity in a line of credit to fund any short fall.
Does any one have any suggestions as to how to over come this funding opsticle.