All Topics / The Treasure Chest / Who would Lend?

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of mothermother
    Member
    @mother
    Join Date: 2003
    Post Count: 12

    Hello everyone I found your website today and I think it is Fantastic.
    My husband and I bought a little gem 2 years ago for $65,ooo, Loan $57,000.
    Have just had a price idea from a real estate agent (dodgy I know) at $165,000.
    We would desperately love to invest but my husband is out of work at the moment.
    Does any body have any ideas who would lend to us for an IP.

    Profile photo of DaveCDaveC
    Member
    @davec
    Join Date: 2003
    Post Count: 79

    Hi mother

    Give Deborah Salter a call. She’s an excellent mortgage broker here in Brisbane.

    email: [email protected]

    or call her direct on 0411 166667
    or 07 3351 6057

    Hope she can help you out some more……..

    Take care
    Dave [:)]

    Profile photo of Stuart WemyssStuart Wemyss
    Member
    @stuart-wemyss
    Join Date: 2003
    Post Count: 598

    Call Homeloans Ltd – they should be able to help you out. http://www.homeloans.com.au/

    However, if you are not earning any income then please consider the risks with increasing your borrowings. What happens if interest rates increase? What happens if you have a vacancy? Just be aware so you are making an educated decision. My advice would be: 1. get a job 2. start investing (not the other way around).

    Cheers

    Stu

    Property & Finance News
    at http://www.prosolution.com.au

    Profile photo of davidfemiadavidfemia
    Member
    @davidfemia
    Join Date: 2003
    Post Count: 89

    Good Advice Stu

    David Femia

    Femia Property Group
    Property Investment Consultants
    http://www.femiapropertygroup.com.au

    Profile photo of mothermother
    Member
    @mother
    Join Date: 2003
    Post Count: 12

    Thank You very much for your help.
    Yes we are going to be very careful about what we do, we dont want to purchase a property to turn around and lose it a short while later.[:(!]
    Have you ever had one of those gut feelings that told you that this was the right time to do something, and that if you sat on your but and did nothing that you would lose the oppertunity of a lifetime.
    Does any body know much about Line of Credit loans and what the pitfalls are? They look very inticing, but are they really that good?

    Cheers Lee-Ann

    Profile photo of hilaryhilary
    Member
    @hilary
    Join Date: 2002
    Post Count: 146

    Hello mother.
    Try to get a loan with a full redraw facility – this will allow you some leeway if anything does go wrong. Refinance your gem to draw up to 80% on a no doc loan, then use some to buy 1 or more properties.
    JUST MAKE SURE that you leave something in kitty for the hard times.
    And go for it!![;)]

Viewing 6 posts - 1 through 6 (of 6 total)

The topic ‘Who would Lend?’ is closed to new replies.