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Why’s the useable equity 200k not 400k?

Am I living in a shoe box? Haha this video needs an update

Alba Vista

I have a question, what if you own your property already, if there’s no mortgage, then you have 100% equity on the home you own If you own the home worth 450k, but you want to own an investment property worth 300k, then your equity covers the cost right?

I am in a situation whereby I have clear title on a house in the city, my first home and currently rented out. I live in a second house that I owe 175k on. The estimated value of the two properties is ~2.3million. I have an income of ~250k p.a including the rental income. I want to buy a new house for my primary residence for 1.2million, thus renting out the current home. So 2x rental income stream and my salary will combine for ~300k p.a. I feel as though I should be able to purchase the new home as I have so much equity and solid income, however I find my max borrowing to be around 870k and the broker suggest I need to sell a property in order to fund the purchase. Thoughts?

I have been defrauded by heloc by overly inflating my property value and paid expensive origination fee then 3 months later suspended my heloc citing my property was significantly had declined in value. When I applied for a heloc loan on my residential property last May 2024 it was overly inflated up to $ 420,000 for a townhouse and was able to take a $200,000 line of credit causing me to pay an origination fee of $5,700 after they had deposited $193,000 to my bank account. I paid them the amount of $172,000 only keeping $21,000 as my loan for the purpose of paying my personal loan and credit cards balance. Three months later which is August of 2024 when I requested for another draw of $17,000 they suspended my heloc for the reason that the property value had significantly declined to $ 276 210. I felt devastated and distraught thinking that I had been scammed. They made a misrepresentation on the application for their gains. I'm not very knowledgeable regarding heloc and was not properly told/explained that once approved the whole amount will goes to your bank. I was not asking for a $ 200,000 loan. When I applied for Heloc at Figure lending took me 5 minutes processing including checking my bank account,they did their appraisal thru artificial intelligence and got the property value of $420,000 that's why they give me a loan of $ 200,000 to access. I checked their property appraisal recently and found out that they did the wrong address and made me felt like it's all fraud. The issue and my complaint was - there is no significant decline of property value. The correct value of my property should be on the upper $ 200,000 like to 270,000- 280,000 I owed 197,000 was expecting for a heloc of $ 20,000 or 25,000 at least. I know for a fact that my property was never appraised to more than $300,000 In conclusion if they have appraised it properly there should be no decline of property value and I should not be paying a HIGH ORIGINATION FEE of $5,700. Need help on what to do. I need to get some of my money back. Please BEWARE!!!

thanks for sharing this great and informative video. lets say ''optimistically speaking'' if i wasn't concerned about the risks because im confident i can make the repayments ,is there any other reasons why it's not a good idea to stick with one bank for both properties? or is there any other benefit to separating them into 2 banks ?

Thank you for your sharing🙏

What about Perth

Does your first homes repayments go up because you used 150 equity?

I want to work with you on your Channel & Videos growth. If you give me a chance.

More of these please!

Nice, easy to understand and straight to the point video. Thanks.

Informative..

I love her

P r o m o s m 😭

Love it bro

What we were advised to expect in 10 years we got in less than half of that. A good honest company that genuinely wanted us to succeed. And we have.

𝓟Ř𝔬𝓂𝔬𝐒ϻ

Excited to see the series Chris. Looks like great content!

Cheers

You need to be more precise....what exactly do you mean by an *equity release “? What type loan is that you’re referring.....equity line of credit or straight standard cash-out refinance? You prob not on the US from sounds of these jargons.

Can I use my parent's house equity to buy a property ?

Well said Nikki. And welcome to Reventon.

No straight or easy answers. But there is good support. Well done.

Location, location, location. 🙏💚😎

Wonderful insight.Good on you Marcus.

This needs more views. Awsome video for those who want a very clear, though-out method on achieving financial freedom through real estate investing. 10/10

Thanks for sharing

Hi, awesome video thankyou - one question: Who do you get the equity release loan through? CBA or another bank? Or it doesn't matter?

One payment at a lower rate is e best way to attack. Thanks for posting! Will be following!

I want to use my equity for investment property. I asked bank to increase my loan and give it to me so i can go to another bank avoid cross colatralise and bjy property . They said they cant increase until you can service another property . Sobasically i cant borrow until my borrowing capacity is more . How to deal with this situation

reventon.com.au/glenvill-homes-offer/

Always a great time to buy... find a new job spiv it’s all over

No, lol.

Great video and thanks. For years Danielle and I procrastinated over investments. Previously unsure of our ability and unclear on our path, we now have a clear vision of where we are going. You've had such an impact on our lives and it's been an absolute pleasure dealing with such a positive and happy team. Each member within the Reventon Group is really so focused on building long term relationships. Which in my opinion is actually quite unique in this industry. We look forward to continuing a long healthy relationship with you all and celebrating together in our retirement.