My next move?

I'm almost 6 years into the game and have been previously reluctant to put it all out there, but here goes. I am looking for feedback for my next move. Here's what I've done so far (all buy and hold houses):

Kingswood NSW. Purchased 2009. Sold 2015. Bought with rezoning in mind.
Kingston QLD. Purchased 2010. Bought for proximity to station, but should have been more selective.
Logan Central QLD. Purchased 2010. Bought for proximity to shopping centre, but should have been more selective.
Blacktown NSW (dual-occupancy). Purchased 2011. Cash flow play.
Mile End SA. Purchased 2014. Bought due to relatively high yield for inner city. CG/cash flow play.
Meadowbrook QLD. Purchased 2015. Bought with rezoning in mind.

I did well out of the Kingswood property, but the timing was not great with Kingston and Logan Central and I'm in the red here before even thinking about selling/buying costs. Blacktown has risen with the Sydney tide. Too soon to tell for the others. What's worked for me has been properties bought with future rezoning in mind, but unfortunately, only one of my current houses fits this category (my most recent purchase).

I have about $400k cash. Just before the recent APRA changes, I had borrowing capacity for 2 more $450k houses and 1 more $300k house. I've since bought Meadowbrook for $320k.

So my issue is more the serviceability ceiling rather than the deposit. How best can I delay me hitting this ceiling?

 

Earn more money

Have more positive cash flow

Investigate more second tier banks..instead of the Big 4

Do 88% + LMI capitalised

Find out which banks will lend on certain policies...do you know some banks will do the 350k deals with 20% deposits quite easily and the DSR is quite relaxed....I find a lot of brokers are lazy at best.

 

Thanks Sash. Have used some of the second tier banks like Bank West and AMP. Current deal is with Choice Lend. My pre-approvals are @ 90% + LMI. I've had a lot of credit enquiries, so anywhere that credit scores may have an issue with me.

So are you saying do a couple @ 88% then when nobody wants me, go back to a couple of 80 percenters?

 

Which clown is your broker?

 

Well, the credit scoring issues are partly my fault as I've entertained the idea of upgrading the PPOR on more than one occasion and gone for pre-approvals on each occasion. There was another where one of the major banks made two similar enquiries to my file a couple of days apart, then declined me lending based on having too many enquiries on my file. Tried to get that one removed to no avail.

 

You are giving up too soon. find another bank and preferably a broker who knows what they are doing!

 

Agree with Sash. Find a good broker who will turn over every stone. I can recommend one in Syd if you like.