Just putting it out there, mainly to those of you who are currently trading full time.
I am wanting to trade full time bottom line, issue currently is service-ability from our current banks perspective. Need to raise a RC of about 200k to get as a deposit of trades.
Current financial position is as follows.
PPOR current CV $1,375mil Lending of $690k
Rental 1 CV $450k lending of $180k
Rental 2 CV $550 Lending of $500k
RC account limit 200k 140 drawn $60k available
Current income from both my wife and I $140k per annum.
Have been to our bank at TSB and was a no go to increase our RC account as servicing was not good on any more lending so we are hard pressed to get any more there, any suggestions on how I get started, I intend to continue working until I can build up a record of trades/deposit so that I can go full time, want to keep the rentals as all cashflow +ve and not worth selling as I want to gain more capital from both. What options do I have, have some good trades under my belt but too far and few between to go full-time and leave the JOB.
Any suggestions? no longer have the passion for my chosen career and want to change track. Goal is 2 trades a year with 50k net profit which will easily surpass my current income after tax.
Thanks in advance.
I am wanting to trade full time bottom line, issue currently is service-ability from our current banks perspective. Need to raise a RC of about 200k to get as a deposit of trades.
Current financial position is as follows.
PPOR current CV $1,375mil Lending of $690k
Rental 1 CV $450k lending of $180k
Rental 2 CV $550 Lending of $500k
RC account limit 200k 140 drawn $60k available
Current income from both my wife and I $140k per annum.
Have been to our bank at TSB and was a no go to increase our RC account as servicing was not good on any more lending so we are hard pressed to get any more there, any suggestions on how I get started, I intend to continue working until I can build up a record of trades/deposit so that I can go full time, want to keep the rentals as all cashflow +ve and not worth selling as I want to gain more capital from both. What options do I have, have some good trades under my belt but too far and few between to go full-time and leave the JOB.
Any suggestions? no longer have the passion for my chosen career and want to change track. Goal is 2 trades a year with 50k net profit which will easily surpass my current income after tax.
Thanks in advance.
Comment