From: Nigel W
Okay, the latest API mag has a great article from Doidgy including a case study of a couple who've gone from 0 to $1M in under 2 years using the reno, revalue, buy again using equity approach.
Even though I've done the reno & revalue thing now myself, I'm still mystified about how this "couple on $45K/year with 2 kids" can buy 8 houses in such a short timeframe, even given the massive jump in equity at each step.
What about servicability? Particularly in light of the fact that some lenders will only take 70-80% of the rent into account.
Can Rolf or anyone else for that matter answer this question?
Okay, the latest API mag has a great article from Doidgy including a case study of a couple who've gone from 0 to $1M in under 2 years using the reno, revalue, buy again using equity approach.
Even though I've done the reno & revalue thing now myself, I'm still mystified about how this "couple on $45K/year with 2 kids" can buy 8 houses in such a short timeframe, even given the massive jump in equity at each step.
What about servicability? Particularly in light of the fact that some lenders will only take 70-80% of the rent into account.
Can Rolf or anyone else for that matter answer this question?
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