US equity release for UK investment
Jan 4th 2006, 5:19 am
#16
Back where I belong!
Joined: Aug 2005
Location: Melbourne, Oz to Banbury, England to El Mirage, AZ & now back to England!
Posts: 5,989
Re: US equity release for UK investment
Originally Posted by BritGuyTN
I actually did just the opposite, i.e. got equity out of my flat in the UK
I'm using it to purchase 7 duplexes that each have $6-700 a month +ve cash flow.
resulting in $4000 a month to me in taxable income
if its a good investment Its worth it.
However, currency fluctuations can mess with your deal and 'cashing out' beyond a certain level can sting you with PMI
If your long-term future is here then I would invest here - many more very profitable opportunities
I'm using it to purchase 7 duplexes that each have $6-700 a month +ve cash flow.
resulting in $4000 a month to me in taxable income
if its a good investment Its worth it.
However, currency fluctuations can mess with your deal and 'cashing out' beyond a certain level can sting you with PMI
If your long-term future is here then I would invest here - many more very profitable opportunities
Just messin', I'm already married!
Will you be my sugar daddy?!?!
Jan 4th 2006, 5:21 am
#17
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by Partystar
Will you marry me?
Just messin', I'm already married!
Will you be my sugar daddy?!?!
Just messin', I'm already married!
Will you be my sugar daddy?!?!
Jan 4th 2006, 5:25 am
#18
Back where I belong!
Joined: Aug 2005
Location: Melbourne, Oz to Banbury, England to El Mirage, AZ & now back to England!
Posts: 5,989
Re: US equity release for UK investment
Originally Posted by fatbrit
'Bout time you started buying a place to live, young Liz!
Jan 4th 2006, 5:33 am
#19
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by Partystar
You're tellin' me!!! Wish we could, we're waiting for another month or 2. We're gonna use our tax rebate to pay off most of our credit card. That way our debt to income ratio is a bit better. We tried for a mortgage with a few people about a month ago, but was only offered $180,000. You can't even buy a crack house for that here!!! They won't take my income into account (as I've only just started working), neither will they take our GI money, so no wonder it looks like we can only afford that!
180's enough to get you rolling. Buy a smart townhouse in a decent neighbourhood if you can't afford an SFR. House prices have just dropped a good 10-15% here in the Valley, and it's the dead end of the season anyway, so put low ball offers in with your (cash-back!) realtor and try your luck. You can rent it out when you're ready to move on and become a sugar mamma.
Jan 4th 2006, 5:42 am
#20
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: US equity release for UK investment
Originally Posted by Partystar
Will you marry me?
Just messin', I'm already married!
Will you be my sugar daddy?!?!
Just messin', I'm already married!
Will you be my sugar daddy?!?!
I'm hardly rich (or even wealthy
)but I have found that if you do your research (and have a little capital) the good ol' USA is a good place to make some extra cash on top of your day job
Jan 4th 2006, 6:02 am
#21
Back where I belong!
Joined: Aug 2005
Location: Melbourne, Oz to Banbury, England to El Mirage, AZ & now back to England!
Posts: 5,989
Re: US equity release for UK investment
Originally Posted by fatbrit
180's enough to get you rolling. Buy a smart townhouse in a decent neighbourhood if you can't afford an SFR. House prices have just dropped a good 10-15% here in the Valley, and it's the dead end of the season anyway, so put low ball offers in with your (cash-back!) realtor and try your luck. You can rent it out when you're ready to move on and become a sugar mamma.
Jan 4th 2006, 6:08 am
#22
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by Partystar
After we were told how much we could get, we changed our plans. We were going to buy a 4 bedroom house that we could live in for, at least, the next 10 years. We have now decided to buy a slightly run down 3 bedroom, live in it while we do it up & then sell it in a year or 2. Then use the equity to buy a lovely 4 bedroom before we have our 2nd child.
Sounds like a plan...
Jan 4th 2006, 11:14 am
#23
BE Forum Addict
Joined: Aug 2004
Posts: 4,754
Re: US equity release for UK investment
Originally Posted by fatbrit
180's enough to get you rolling. Buy a smart townhouse in a decent neighbourhood if you can't afford an SFR. House prices have just dropped a good 10-15% here in the Valley, and it's the dead end of the season anyway, so put low ball offers in with your (cash-back!) realtor and try your luck. You can rent it out when you're ready to move on and become a sugar mamma.
You're recommending an interest only loan in one posting and then go on to say that house prices are dropping by 10-15%. So the house might be worth less when you sell and you won't be able to pay off the original mortgage. Interest only loans are a mug's game. Get a 15 year fixed and pay off P and I. Its a great way to force you to save, you build equity fast.
Jan 4th 2006, 1:34 pm
#24
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by nun
You're recommending an interest only loan in one posting and then go on to say that house prices are dropping by 10-15%. So the house might be worth less when you sell and you won't be able to pay off the original mortgage. Interest only loans are a mug's game. Get a 15 year fixed and pay off P and I. Its a great way to force you to save, you build equity fast.
If you require the discipline of P&I, go for it. If you like the flexibility of interest-only, go for it. If you want to take the risk of a loan with in-built negative amortization and you fully understand what you're doing and the main reason you're doing it is not kust to buy beyond your ability, go ahead.
I was saying what my favourite mortgage was; that is my best loan for my particular circumstances.
Jan 4th 2006, 1:38 pm
#25
Homebody
Thread Starter
Joined: Jan 2005
Location: HOME
Posts: 23,182
Re: US equity release for UK investment
Originally Posted by fatbrit
I was saying what my favourite mortgage was; that is my best loan for my particular circumstances.
Can we talk about something more interesting PLEASE!!
Jan 4th 2006, 1:39 pm
#26
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by Elvira
Can we talk about something more interesting PLEASE!!
Dunno! Nun was irritating me! Wondered who I'd recommended an interest-only loan to.
What would you like to talk about?
Jan 4th 2006, 1:41 pm
#27
Homebody
Thread Starter
Joined: Jan 2005
Location: HOME
Posts: 23,182
Re: US equity release for UK investment
Originally Posted by fatbrit
Dunno! Nun was irritating me! Wondered who I'd recommended an interest-only loan to.
What would you like to talk about?
What would you like to talk about?
Art.
Sex.
Rule(r)s
Feet
Jan 4th 2006, 1:45 pm
#28
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by Elvira
Opera.
Art.
Sex.
Rule(r)s
Feet
Art.
Sex.
Rule(r)s
Feet
But this thread is about mortgages. Get to the Lounge, woman!
Jan 4th 2006, 1:49 pm
#29
Homebody
Thread Starter
Joined: Jan 2005
Location: HOME
Posts: 23,182
Re: US equity release for UK investment
Originally Posted by fatbrit
But this thread is about mortgages. Get to the Lounge, woman!
Your will is my command!
Jan 4th 2006, 1:50 pm
#30
Account Closed
Joined: Aug 2004
Posts: 22,220
Re: US equity release for UK investment
Originally Posted by Angry White Pyjamas
Make him rent his own or live in halls and work at McD's to pay for it. Kids of today dont know they're born ffs.
