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Who is Accessing Equity?

Discussion in 'General Property Chat' started by MTR, 17th Aug, 2016.

  1. MTR

    MTR Well-Known Member Premium Member

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    Just thought I would ask, who is currently accessing equity, how are you doing this? Growth/Adding Value.... and Where/Which State?


    MTR:)
     
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  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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  3. Biz

    Biz Well-Known Member

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    I release equity to buy Ferraris and Lamborghinis.
     
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  4. MTR

    MTR Well-Known Member Premium Member

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    Jamie
    sounds good, I expect that would be in the main Sydney and Melb markets?
     
  5. joel

    joel Well-Known Member

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    Via elbow grease in SA
     
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  6. MTR

    MTR Well-Known Member Premium Member

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    keep it up, I mean the elbow grease:)
     
  7. kamchatsky

    kamchatsky Well-Known Member

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    Released Sydney equity to buy in Melbourne (and possibly other states).
     
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  8. wombat777

    wombat777 Well-Known Member Premium Member

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    Equity from my PPOR in Sydney is funding deposit, stamps and other buying costs for my next IP ( although I have the cash to spare I prefer to keep it in offset ).

    I've also used some equity to top up my share portfolio ( but keeping a matching cash buffer in offset to the value of the shares/ETFs purchased ).
     
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  9. MoneyMan

    MoneyMan Well-Known Member

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    You would think there would be alot of cashed up mums and dad's out there ready for the next great investment
     
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  10. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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  11. ellejay

    ellejay Well-Known Member

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    I've never refinanced any of our ips. I do it the old fashioned way, saving and am now selling the worst performers to invest elsewhere. Wouldn't discount it though if I needed to do it.
     
  12. MTR

    MTR Well-Known Member Premium Member

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    Really? must be property you purchased in 2014?
     
  13. MTR

    MTR Well-Known Member Premium Member

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    I would have thought there would be many investors accessing equity in particular Syd and Melb..unless selling......am also curious to see whether any other States considering the number of what's on Brissie and Adelaide
     
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  14. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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  15. MTR

    MTR Well-Known Member Premium Member

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    nothing wrong with this and it's worked for you, however do you think this may have slowed you down, missing opportunities?
     
  16. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    I tell people to get it while you can, when you can. If not required immediately we park it and use it when needed without incurring interest payments.

    When you realy need money is usually when you cant get it so get it when you can as its essentially free until you draw it down.

    This highlights the importance of mindset towards debt as most of us have been taught to "not have any debt" OR "pay it off as quickly as possible" and sometimes this causes blockages to forward progress. Learning to manage debt and cashflow is what is important, not debt in and of itself.
     
  17. ellejay

    ellejay Well-Known Member

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    Possibly, but I have double figure ips and don't need a job. I definitely could have gone harder, but we had very well paying jobs, who's to say I would have made more by giving up the job and developing? Some I read about get quite average results fom developing. Agree I could have done more but I have everything I need.
     
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  18. Perthguy

    Perthguy Well-Known Member

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    Sounds perfect to me.
     
  19. MTR

    MTR Well-Known Member Premium Member

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    the proof is in the pudding...excellent outcome:)
     
  20. ellejay

    ellejay Well-Known Member

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    I have millions of dollars in debt so please don't hold me up as an example of someone with a problematic mindset. I'm willing to bet there are a lot of people who have accessed equity to the max and not progressed as I have. I have a multi million dollar portfolio and have a measured view on how to grow this further without excessive risk. Everyone's situation is different.
     
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