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From: Goran Arsovski
Hi guys, great forum.
I just purchased my first IP which was my parents principle place of residence. They will be moving to a
new built home and we will be moving in with them. I purchased their home with no deposit for 151k
(inc. mortgage insurance over 25years ) as an investment loan I & P b/c that's the amount that the
bank would lend me. The rent in the area is around $190/week and the house was valued by the bank
at 180k.
My question is, was this a good choice for me to do and how long into the loan should I be asking the
bank for another loan for another IP.
Thanks heaps,
Gozza.
Hi guys, great forum.
I just purchased my first IP which was my parents principle place of residence. They will be moving to a
new built home and we will be moving in with them. I purchased their home with no deposit for 151k
(inc. mortgage insurance over 25years ) as an investment loan I & P b/c that's the amount that the
bank would lend me. The rent in the area is around $190/week and the house was valued by the bank
at 180k.
My question is, was this a good choice for me to do and how long into the loan should I be asking the
bank for another loan for another IP.
Thanks heaps,
Gozza.
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