Hi,
Thanks for the help in advance.
We have just purchased our two properties. Settlement on one is in April and the other is in May. Besides these, we have no other funds remaining but we have found some good investment deals. I was curious if there was a way in which we could obtain these other properties. We want to put offers because we don’t want to let them go but we will only have the deposit for them after 4 months since all our funds are going into these first two properties.
Can anyone please help – Thanks again.
Kind regards,
George.P.S: I read somewhere that Steve had put an Excel form that calculates the weekly repayments of a loan. Does anybody know where this is located. Thanks.
You could always borrow the deposits. you still have to pass serviceability tho.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi all
george it wont help straight away but can you add some value to the homes, ie paint outside to somehow increase the value? then you can use the extra equity in these properties as the deposit for the next purchases.
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Geo
Good post for those who can’t find + IP’s… they’re out there [^]
Good luck, maybe do the above and a ‘long’ settlement [
]REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Hi Geo,
Other option could be a lease option… or wraps, both will give you access to quick funds if necessary needed straight away… though dependent if the tenant is interested in either option.
The advantage is, cash deposit lump sum, which is non refundable to them, but also an increase in weekly rent and cashflow, in using both options.
Or like Terryw said, but you could probably throw in a refinance in there, and draft the money out, but will be dependent again, if you can still service the debt.
Cheers,
sishi,
thanks for the replies – much appreciated
you guys are legends.
regards,
georgeHello George,
Whenever you are short of recources, equity, servicability, time you could look at taking on Joint Venture Partners to supply what you currently lack.You could document the deal and sell it on to an investor.
If you are short of equity how about looking over the property sales in the areas you hold properties and seeing if you can use the new price references to manage a valueation to give extra equity.
If you are short on servicability but have some equity you could remove some of your equity place it into an investment and you have an instant increase in your servicability.
Without knowing your full circumstances It is hard to fully cover what could be done.
Regards
BrentonHI,
sorry to look dumb but what is ‘serviceability’?
thanks and regards,
George.servicabilty, just a basic meaning, meaning that you can afford to pay the loan debt, considering all other expenditure and expenses you currently have, and seeing what left over income you have, in being able to pay the loan debt amount, you have or wishing to acquire.
Cheers,
sis
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