T Tomjim Registered User Messages 74 14 Dec 2024 #1 I have 4 buy houses rented out. Two of these are mortgage free and the other two have outstanding loans of 170k. My home is also ,Mortgage free. Looking at buying a fifth investment property but because of my age , it seems my options are limited because of my age regarding getting a mortgage. I am a PAYE earner on circa 90k a year. I also have a farm. What are my options here, I hope to have 40% of deposit for new investment property.
I have 4 buy houses rented out. Two of these are mortgage free and the other two have outstanding loans of 170k. My home is also ,Mortgage free. Looking at buying a fifth investment property but because of my age , it seems my options are limited because of my age regarding getting a mortgage. I am a PAYE earner on circa 90k a year. I also have a farm. What are my options here, I hope to have 40% of deposit for new investment property.
P Persia Registered User Messages 216 14 Dec 2024 #2 ICS/Dilosk offer these loans to your age profile as far as I remember.
Brendan Burgess Founder Messages 54,570 14 Dec 2024 #3 Are you sure that you should be buying another property? You have 6 properties and 3 jobs. Your objective at your age should be to preserve your wealth rather than adding risk to maximise it. Brendan
Are you sure that you should be buying another property? You have 6 properties and 3 jobs. Your objective at your age should be to preserve your wealth rather than adding risk to maximise it. Brendan
T Tomjim Registered User Messages 74 15 Dec 2024 #4 I suppose I struggled up to now to accumulate what I have. Family now reared and I'm earning more money, so I am stronger now financially. Plus I enjoy this type of thing, I get great satisfaction from it.
I suppose I struggled up to now to accumulate what I have. Family now reared and I'm earning more money, so I am stronger now financially. Plus I enjoy this type of thing, I get great satisfaction from it.