Thanks, yeah he said when he got back that he could do extra payments, but doesn't matter since he can't get 100% for Narrabri

Hi Mark,
No we wouldn't do a wrap with him as we would need at least 15-20% deposit to use the funds for what we want to do (our main reason for selling) Besides I have 2 other interested buyers that i'm holding off, one of which has offered $500 more than asking price, if he can't get finance then that's cool, I can always sell to one of the others.
Linda

I thought of that, but I don't have his name or contact details as it is through real estate that we will be renting it out.

Yeah hope so, I guess technically he could live off the 5K for 1 month and save the deposit from his salry for the next month

thanks

Just visited rams site again, and they have their investment loans advertised as

Does anyone know what that means, because the normal home loan that is 100% doesn't say 100% owner occupier Only or anything. Am I correct in thinking they WILL lend 100% on investment property?

Thanks

Thankyou both, my family member has a good credit record and great income, just no savings, he thought both our houses for sale were over 200k, it wasn't until today when I was talking about my Narrabri IP and that it was 148k did he even think about, he asked what the rent was and realised at $210 p/w that it is agood buy (specially since he's in the mining industry ). He said straight up, i'll buy it for 148k…… that way he can use the equity in a couple of years to buy a PPOR…wish i'd mentioned the price before…lol
Anyway, if he were to say it was PPROR then change to IP after settlement, what would be the tax implications if any? He is seeing this as a good way to get his foot in the door to buying.
Can anyone recommend a good MB in the hunter region, or one that easily services the hunter as he works long hours and is often out of the state on business.
He is planning to do P & I and pay probably an extra $150 p/w on top of what he will receive in rent so close to $100 p/w more than he is required.

Another question, as the house is currently tenanted with a 6 month lease, would he still be able to say it will be his PPOR once lease is up?

Thanks again, and sorry to be such a pain!