Forum Replies Created
Questions answered below as best as I can.
1) Your lender will want first mortgage so will they a consent to a second mortgage?
Was thinking more of a partnership firstly where there was growth to purchase other properties for the same company or other similar companies. All companies find it hard to find properties as the houses are treated very harshly. But they all get repaired by company builder/maintenance man. In fact you will find they fix taps and appliances that normally a landlord would fix. The company I work for has these residential houses all over Australia. If houses were provided exclusively to them they would eventually only rent off you. This is definitely a niche market.
2) What rate of interest would you be offering the potential investor given the risk exposure and security position?
If the investor was not interested in partnership then a figure of 10% pa on money lent seems reasonable. But obviously negotiable.
3) How long would the loan be for and what would be the take out strategy ?
If it was a direct loan then a 10 yr period seems reasonable to pay back with 10% pa interest.
4) Does the Company provide Directors Guarantees to the landlord when it rents a property ?
The company provides gurantees and properties are fixed immediately if anything goes wrong.
5) Does the Company repair the properties back to their original state once the Tenancy expires ?
yes as per answer above.
At least with a little more information i can be well armed to make a informed decision.
– See more at: https://www.propertyinvesting.com/forums/help-needed/4349533#comment-296881
Where do you find someone willing to invest? You read books that say you don't necessarily need the money just the good idea. Well these companies are Australia wide and struggle finding suitable properties. I was thinking of a partnership where the partner supplies the finance and I provide the idea and contacts. Every property purchased will be positively geared 100% guaranteed. There are 6 organizations in my town alone all looking for suitable properties. They look after all maintenance and return the house to its original state at end of lease but they are happy to sign very long term leases. I believe I have a great opportunity now some advice on where to find interested investors would be great.
Thanks
Hi Richard
I can answer all those questions for you no worries. May be best to email me or give me a call.
Email is [email protected] and phone is 0402892474
thank you
Brandon
