Hi,
I'm looking to start in property. but it seems very hard without savings. So I decided to build a 2br granny flat at my backyard to get some cash flow. But I understand that I would be in trouble if I do not have the right loan structure in place. So I'd like to have your advice on the structure of the loan.
My situation is I've about 100k equity in my house. That loan is linked to an offset account which got my all savings around 40k.I'm looking at borrowing around 60 k for the granny flat. So what sort of loan structure should I use?
Thank you,
Jason
I'm looking to start in property. but it seems very hard without savings. So I decided to build a 2br granny flat at my backyard to get some cash flow. But I understand that I would be in trouble if I do not have the right loan structure in place. So I'd like to have your advice on the structure of the loan.
My situation is I've about 100k equity in my house. That loan is linked to an offset account which got my all savings around 40k.I'm looking at borrowing around 60 k for the granny flat. So what sort of loan structure should I use?
Thank you,
Jason