What would you do?

Discussion in 'Loans & Mortgage Brokers' started by R Hong, 17th Jul, 2018.

Join Australia's most dynamic and respected property investment community
  1. R Hong

    R Hong New Member

    Joined:
    17th Jul, 2018
    Posts:
    1
    Location:
    Victoria
    Dear all

    We have 4 home loans secured by 3 properties and looking to get another investment and even structuring our portfolio.

    Loan 1 : 460k (worth 750k) - with council approval to knock down rebuild 2 townhouse
    Loan 2 : 540k (worth 900k)
    Loan 3 : 420k (worth 750k)
    Loan 4 : 250k

    Cash 500K (250k offsetting Loan 4)

    Combined annual salary 150k :(

    What would you do? :)
     
  2. Paul@PAS

    [email protected] Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    18,097
    Location:
    Sydney
    The offset cash issue may pose a concern if the offset $250K and the other $250K are blended.

    Otherwise not quite sure of the scope of the question.
     
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    8,206
    Location:
    Gold Coast
    id look at uncrossing for a start :) assuming you are.

    What does your personal affordability say ? what a lender will lend isnt of much use if it kills you :)

    ta
    rolf
     
  4. Stoffo

    Stoffo Well-Known Member

    Joined:
    14th Jul, 2016
    Posts:
    3,934
    Location:
    Sydney
    How long is a piece of string question :rolleyes:

    PPOR ???
    Any non deductable debt ???
    How long has each property/loan been held ?
    Do you have pre approval?
    Are any older/in need of updating, major expenditure?
    Are loans P&I or IO ???
    Do you have the time and skill set to develop 1 ?
    Family circumstances ?
    Long term plan ?

    Buy two of @euro73 cash cows
    OR
    Sell everything and go on an extended cruise :p