Hi Acorn,
Not exactly true. When a bank looks at your ability to service loans they should be factoring in rental income to assist with the servicing. This is on top of your normal wages, other rental/regular investment income and expenses etc etc. That being said, depending on the number of properties you own and also the type of property, there is a point where one transitions from purchasing a couple of properties for investment purposes to becoming a "property investor". The trick is to determine what category you belong in.
Once someone is classified as a "property investor" different lending standards apply, this includes lower LVR's, different servicing requirements, different loan amortisation requirements etc.
PS - I really enjoyed the Kochie interview. Looks like both guests were out of their depth just a little.
- Forums
- Property
- sunrise david koch this morning dug in
Hi Acorn,Not exactly true. When a bank looks at your ability to...
-
- There are more pages in this discussion • 15 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)