Hi All,
I'm new to the forum and have loved reading all the great knowledge that is shared. I'm reasonably new to investing having purchased my first IP less than a year ago. I'm excited by the prospect of being able to add several properties in the years ahead!
Having been bitten by the property bug I've been considering when we might be ready for our next property. We are focusing on positive cash flow properties. I purchased the first IP using a P&I loan. We did this as it is in a regional centre and thought it would be good to build equity as we didn't know what the capital growth would be. I have substantial equity in my PPOR that could be accessed for our next deposit. What concerns me is that I might be quickly tapped out on the loan servicing criteria.
We are a single income family and I earn around the 100K mark. Given that I'm wanting to purchase positive cashflow property, I'd like to be able to keep adding properties, but feel like I will be stopped because of loan servicing criteria from the banks.
I've heard that servicing capacity can be maximised through the use of companies and family trusts.
I was hoping that people on this forum might be able to offer some advice and share their experiences. Any advice appreciated.
Cheers,
I'm new to the forum and have loved reading all the great knowledge that is shared. I'm reasonably new to investing having purchased my first IP less than a year ago. I'm excited by the prospect of being able to add several properties in the years ahead!
Having been bitten by the property bug I've been considering when we might be ready for our next property. We are focusing on positive cash flow properties. I purchased the first IP using a P&I loan. We did this as it is in a regional centre and thought it would be good to build equity as we didn't know what the capital growth would be. I have substantial equity in my PPOR that could be accessed for our next deposit. What concerns me is that I might be quickly tapped out on the loan servicing criteria.
We are a single income family and I earn around the 100K mark. Given that I'm wanting to purchase positive cashflow property, I'd like to be able to keep adding properties, but feel like I will be stopped because of loan servicing criteria from the banks.
I've heard that servicing capacity can be maximised through the use of companies and family trusts.
I was hoping that people on this forum might be able to offer some advice and share their experiences. Any advice appreciated.
Cheers,