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  • Profile photo of skotlarskotlar
    Member
    @skotlar
    Join Date: 2008
    Post Count: 2

    Hi All,

    I am a first time investor and hoping to invest in some positive cash flow properties or some under 100k that are on the rise.

    At present I have minimal deposit ($2000) – What finance providers etc do people recommend for a 100% borrow of anywhere between 50-100k ?

    Are any better than others in the way of interest rates or types?

    Thanks in advance

    Scott

    Profile photo of god_of_moneygod_of_money
    Participant
    @god_of_money
    Join Date: 2008
    Post Count: 970

    Save more money

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    For under a $100K sounds to me like a touch of rural / small country towns / even units.

    Borrowing 95% will be hard enough let alone 100% plus costs.

    Unless you have additional security my suggestion would to look at buying a PPOR first and benefit from the stamp duty concessions and FHOG which varies from $7-$10 depending on your location.

    Only other alternative is negotiate some vendor finance with the deal. 

    Richard Taylor | Australia's leading private lender

    Profile photo of ducksterduckster
    Participant
    @duckster
    Join Date: 2004
    Post Count: 1,674

    Go onto http://www.realestate.com.au and put the price range as $0 to $150,000 and you will find out that it is really hard to find a property in this price range.

    Profile photo of Shaun M SmithShaun M Smith
    Member
    @shaun-m-smith
    Join Date: 2008
    Post Count: 18

    It all comes down to what suburb, the type of property and subsequent zoning. Lenders will look at each of these aspects more closely when you are borrowing at 95 and particularly 100%. If you were able to identify location, type and zoning then specifying what you may be able to achieve would be a lot easier.  

Viewing 5 posts - 1 through 5 (of 5 total)

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