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Location:
Brisbane
Registered:
February 2004
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Buying a new home, but want to keep this one as a rental- HELP!
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Thu, 25 August 2005 07:06
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So yeah, we have decided its time to get a bigger house, we have found one we like and want to keep the house we are in as a rental, anyone done this before? I am not really sure where to start, every direction I can think of going seems like a viscious circle.
Anyway, my thoughts are, borrow against the house we are in, to the maximum we can (for negative gearing?), then use some of that money as a deposit on the new house.
But, how long does this stuff take? can we put money down on the house we want to buy and have them wait till our loans go through?
We both have good jobs and according to the banks little loan calcualotr things, we can afford the loans on both houses, I just don't want to go about this all the wrong way.
anyway, long post, if anyone can offer advice, I would appreciate it, thanks 
ps. yeah the new house is huge, going to be a big house warming hehe
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| | Subject | Poster | Date |
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Buying a new home, but want to keep this one as a rental- HELP!
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Dust | Thu, 25 August 2005 07:06 |
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Re: Buying a new home, but want to keep this one as a rental- HELP!
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Corona RT142 | Thu, 25 August 2005 07:12 |
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Re: Buying a new home, but want to keep this one as a rental- HELP!
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Dust | Thu, 25 August 2005 07:16 |
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Re: Buying a new home, but want to keep this one as a rental- HELP!
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Corona RT142 | Thu, 25 August 2005 07:17 |
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Re: Buying a new home, but want to keep this one as a rental- HELP!
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WiLo | Fri, 26 August 2005 12:37 |
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Re: Buying a new home, but want to keep this one as a rental- HELP!
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Mr DOHC | Sat, 27 August 2005 08:30 |
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Re: Buying a new home, but want to keep this one as a rental- HELP!
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trevtrev | Mon, 29 August 2005 00:37 |
