No Topic

From: Mark Portelli


Looking for comment from the finance wizards on the forum.

We have own property worth $600K
2 IPs valued at $380K total

Debts
$365K I/O loan for IPs
LOC at $53K - max limit $100K
Other debts around $3600

Using lender's 80% LVR
can we expect the following:
$980000 x 80% = 784000
less $483600
leaves an equity base of approx $300400

Using this equity can i then theoretically use it as 20% deposit and borrow $1.5mil?

Or buy a number of IPs up to $1.5 including costs and breaking the equity into smaller deposits?

Is the above possible - is it done?

Obviously loan servicing would need to be considered.
 
Last edited by a moderator:
Reply: 1
From: Mark Laszczuk


Mark,
You sound like you could be in a position to speak to Steve Navra. His website is: navrainvest.com.au. Check it out, and maybe get in contact with him. He might have some very nice things to say.

Mark
'no hat, some cattle'
 
Last edited by a moderator:
Reply: 2
From: Rolf Latham


Hi Mark

With that sort of equity base serviceability will rarely stop you. I would think you would be able to purchase around a mill by the time you take into account costs.

Ta

Rolf
 
Last edited by a moderator:
Top