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From: Ian Redman
Hi All,
My fiance and I have just bought our first IP in St Kilda at what we believe to be at a discount price. The owner was asking $169k for a 1 bedroom top floor unit with security, off street parking etc. We purchased it for $158k!! and we are wondering how we can obtain instant equity on the property upon settlement in Jan '02 as the mortgage lenders valuation of the house came in at what we paid for it. It is tenanted and we do not plan to do anything to the IP at this stage.
Cheers
Ian Redman
Hi All,
My fiance and I have just bought our first IP in St Kilda at what we believe to be at a discount price. The owner was asking $169k for a 1 bedroom top floor unit with security, off street parking etc. We purchased it for $158k!! and we are wondering how we can obtain instant equity on the property upon settlement in Jan '02 as the mortgage lenders valuation of the house came in at what we paid for it. It is tenanted and we do not plan to do anything to the IP at this stage.
Cheers
Ian Redman
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