Steve, in my experience with low or no docs financing the lender always wants to see proof of funds to complete. Therefore if you are getting the vendor to finance part of the deal, how is this going to stack up with your financier? Isn’t he going to now see you paying a second mortgage to the vendor for whatever time frame and therefore affecting…[Read more]

Hi Josh

Just returned from Tassie -looking at small blocks of units. Figures looked good but vacancy high therefore what looked like a good deal did not really stack up with 25% vacancy factor.

Could I run the numbers of your suggested deal:
Buy for $60K
Rent at $135 pw = $7020 p.a.
Mortgage of say $50K with repayments at 7.5% = $3750…[Read more]