Hi,
I have been reading a lot of books lately and spent hours instructing myself on this great forum, but I have this question that I cannot get out of my head:
In a lot of books, it says that you can invest 100% from equity. But how do you get the 10/20% deposit cash (what pourcentage exactly should it be?) to start with, from that equity?
Is the best way is having a revolving account beforehand?
Let's say I have 400K in equity , am allowed to borrow that amount and purchase a property at 350K:
Do I pay the 35k deposit from the revolving account, and then borrow 350K and repay the 35k to the revolving account (which has much higher interrest rate? I am allowed to do that?
Is it the best way?
Thanks in advance
I have been reading a lot of books lately and spent hours instructing myself on this great forum, but I have this question that I cannot get out of my head:
In a lot of books, it says that you can invest 100% from equity. But how do you get the 10/20% deposit cash (what pourcentage exactly should it be?) to start with, from that equity?
Is the best way is having a revolving account beforehand?
Let's say I have 400K in equity , am allowed to borrow that amount and purchase a property at 350K:
Do I pay the 35k deposit from the revolving account, and then borrow 350K and repay the 35k to the revolving account (which has much higher interrest rate? I am allowed to do that?
Is it the best way?
Thanks in advance
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