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From: Guy Wood
Hi all, I am after your thoughts on a couple of options.
Say one has access to a line of credit of about $170k from equity on home & IPs.
Option 1: Go look for a good deal & bargain hard cause you can 'write a cheque right now' for the property.
Option 2: Break the LOC up into say 3 lots of $50k & use each for deposit to establish 3 loans of $150k each, then buy 3 properties worth $200k each(or some similar combination).
Any advice/opinions??
Guy
Hi all, I am after your thoughts on a couple of options.
Say one has access to a line of credit of about $170k from equity on home & IPs.
Option 1: Go look for a good deal & bargain hard cause you can 'write a cheque right now' for the property.
Option 2: Break the LOC up into say 3 lots of $50k & use each for deposit to establish 3 loans of $150k each, then buy 3 properties worth $200k each(or some similar combination).
Any advice/opinions??
Guy
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