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From: Michael Vaughan
Hi All,
I have recently hit a wall preventing me purchasing any further rental properties. I am self employed and as a result I try to minimise the amount of tax I pay. As a result my net profit after expenses is low and the banks a telling me that my income can not service any investment property loans in the near future. Rule of thumb is that loan repayments can not be more than 85% of your income or they are deemed to be too rent reliant. By the way all my rental properties are positively geared. Interested to hear from people who have come across similar problems.
Regards,
Michael
Hi All,
I have recently hit a wall preventing me purchasing any further rental properties. I am self employed and as a result I try to minimise the amount of tax I pay. As a result my net profit after expenses is low and the banks a telling me that my income can not service any investment property loans in the near future. Rule of thumb is that loan repayments can not be more than 85% of your income or they are deemed to be too rent reliant. By the way all my rental properties are positively geared. Interested to hear from people who have come across similar problems.
Regards,
Michael
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