After leaving the paid workforce, we wish to get into buying, renovating and selling houses. While there is a wealth of info available to all and sundry, we would like some views from people who have either tried this or currently doing this.
Financing is a major issue as I picked up from a post from from another member. The concern being we have no income stream so to speak of. We would like to use the equity we have in an investment property (it also has a mortgage) as a deposit and working capital for renovation on a next house to resell quickly. Rest of house financed by mortgage.
Can any people give us some help in how to get started. We do not wish to sell the investment property, but use it to access finance.
Thanks
Possum
Financing is a major issue as I picked up from a post from from another member. The concern being we have no income stream so to speak of. We would like to use the equity we have in an investment property (it also has a mortgage) as a deposit and working capital for renovation on a next house to resell quickly. Rest of house financed by mortgage.
Can any people give us some help in how to get started. We do not wish to sell the investment property, but use it to access finance.
Thanks
Possum