Ms Rouvellas said the secret to her portfolio was buying properties through a special purpose vehicle.It’s essentially a company she set up for her property deals and it has meant the banks assessed her risk differently and were able to lend her more than she would have got applying for loans personally.
Her income was $70,000 a year but because she was self-employed the banks assessed her ability to pay the loan at only 60 per cent of that income, leaving her with little to borrow. “We got it for about $30,000 below market value so doing the renovation on top of that gave us a lot of equity quickly,” she said.
Why does she need 3 homes?
Another denying prospective home owner’s a home to own and live in. Not her fault, but a major government problem.
Pumping property today HS. A few shekels received from the property industry after Porter Davis this week?
Calling ACurrentAffair9, calling ACurrentAffair9 to aisle 3 immediately, there's about to be a big spill, a sook and another great story about banks making people take on debt they had no idea about. 'But they made me sign, they didn't tell me why, it's not my fault'.
Her parents bank account number?
They are all Porter Davis homes
Rich parents?
Add a zero?
I have 3 properties - big deal