Reply: 1.1
From: Funky Whuff
Thanks TW,
Most appreciated - I do have a question though, I have been looking around at lots of properties and am very interested in buying townhouses etc in the inner suburbs which are either brand new or relatively new (maximise tax benefits!) and most seem to be priced around the $300,000 mark. I don't have a lot of equity in my own house (bought with a friend - bought for $160,000 - currently mortgage at $151 or so (only bought with 5% deposit and settled three weeks ago), however I could probably get it revalued for around 180k-190k. What is the best way to finance an investment property around 300k - make sure I get a long settlement, use equity in my house (banks not convinced), use a deposit bond or what?? Any suggestions - what would you (or any experienced investor) do in this situation? I don't really want to wait to build more equity because I believe the market is going to keep moving - any help??? Thanks,
Liz