Hi guys, I'm a total finance noob so could anyone clarify?
How does one eventually prove loan serviceability to the banks once you decide to go into property full time? What I mean is that while employed it's quite easy to prove that to the banks, but once you quit (assuming you have a sizable portfolio), how would you then show proof?
Is this where +ve cashflow from passive incomes comes in? Or you put up your existing IP as collateral?
What's the missing link?
Cheers!
How does one eventually prove loan serviceability to the banks once you decide to go into property full time? What I mean is that while employed it's quite easy to prove that to the banks, but once you quit (assuming you have a sizable portfolio), how would you then show proof?
Is this where +ve cashflow from passive incomes comes in? Or you put up your existing IP as collateral?
What's the missing link?
Cheers!