Hi All,
Just wanted to make sure the best way forward.
House in blacktown , with near new 2 bedroom GF (self managing rental)
Main House Loan: 340k
Offset Account: 300k
Another linked GF Loan Account:
140k
Granny Flat Offset Account: 2k
current loans are both Interest only and linked to respective offset account
Conservative Valuation: 650k, might even be 700k as thats what similar have sold walking distance to station...
GF rented for 390 per week...
House to rent for atleast 480 per week..
on 670 sqm block.
===============
want to purchase another Prop, around 600-650k in south west sydney...
whats the best way to finance this. just use money in my off set account to organise 20% deposit, stamp duty etc..
then leave remaining balance in offset account for this new prop.
whats I wanted to know is there anyway, to access more equity or money from blacktown house and then carry it forward towards next purchase?
even this next purchase I will be setting at IO loan linked to offset account from day one.... as in future will move from there in 2-4 years...
regards
somerhut
Just wanted to make sure the best way forward.
House in blacktown , with near new 2 bedroom GF (self managing rental)
Main House Loan: 340k
Offset Account: 300k
Another linked GF Loan Account:
140k
Granny Flat Offset Account: 2k
current loans are both Interest only and linked to respective offset account
Conservative Valuation: 650k, might even be 700k as thats what similar have sold walking distance to station...
GF rented for 390 per week...
House to rent for atleast 480 per week..
on 670 sqm block.
===============
want to purchase another Prop, around 600-650k in south west sydney...
whats the best way to finance this. just use money in my off set account to organise 20% deposit, stamp duty etc..
then leave remaining balance in offset account for this new prop.
whats I wanted to know is there anyway, to access more equity or money from blacktown house and then carry it forward towards next purchase?
even this next purchase I will be setting at IO loan linked to offset account from day one.... as in future will move from there in 2-4 years...
regards
somerhut