Please can any one tell me what is 100% finance?
Few days ago I went to a seminar where the speaker said that he if any one joins their club for £1495.00pa. They will guarantee at least £20000.00 by the end of the year. He said that his company will find 15% discounted properties, 100% finance, and hidden value properties for the members. At the end of the speak, I kind of liked his offer and wanted to join them but then again I thought that let me ask some one for help and a generous advice. If you know anything about the property investment or if you know any thing about the possibility of the 15% discounted properties and 100% Finance or should I trust them or not…. then please let me know, whether I should join their club or not.Khyber
Khyber – sounds too good to be true. Perhaps if you suggested the name of the company, someone here may know about them. Although, assuming from your post by you using pounds instead of dollars, you are in England?
If you want to know about 100% finance, try a forum search for threads by Mortgage Advisor, a very good explanation was posted not too long ago.
Cheers
“Looking forward to the day when I can tell the boss where to go”
Hi guys
i think if you can buy properties that are really 15% below market value why aren’t they buying them themselves and just putting them back on the market ???? I know in NZ there is a company that markets itslef as finding properties 15%-20% below market, all they do is obtain overinflated valuation.
I’m with Myydral too good to be true.
100% finance is basically a loan for the full cost of the home so you don’t need to put in a deposit.
regards westan100% finance just means you’ll have more debt for longer. For some of us, it’s about building equity and reducing LVR- not having 0% equity and 100% debt.
I know 100% loans (or greater) are seen as a good thing by many. I’m old-fashioned. I think it’s all about reducing debt. Doesn’t mean one can’t build their portfolio- I just think it’s important to manage debt, and to build wealth (wealth being equity).
kay henry
I guess it’s all about (as someone pointed out to me in here, which BTW was brilliantly put!!!) SANF or Sleep At Night Factor (I love that!!!) [lmao]
Cheers,Jo
I’m with you Kay, i wouldn’t be wanting to be highly geared in such an uncertain market. If it was 1999 then go for it but its now 2004 and the market has run its race. Remember with leverage you can be in big trouble should the market drop 10%. Ouch, that will realy hurt in fact it could send people broke if they too highly geared, and suddenly struggle to make repayments.
regards westan
I wonder if Henry Kaye is operatinmg in England these days?? [grrr]
sounds like a syndicate, puchasing a large amount of appartments from a developer at discount to fund the development, if this is the case, most appartments will be owned by investors, hence most will be rented, may find it hard to find tenants, look at vacantcy rates and other similar properties in the area for price comparisons, BEFORE you sign!! ask them questions if they dont give you straight answers, look else where
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