JOINT VENTURE

Viewing 4 posts - 1 through 4 (of 4 total)

CIARALIN
Participant
@ciaralin
Join Date: 2004
Post Count: 5
November 5, 2004 - 2:26 pm
3 GIRLFRIENDS WANT TO GO JOINT VENTURE BUYING PROPERTY, RENOVATING & SELLING – GIRLS ONLY
2 R MARRIED WITH HUSBANDS EARNING 100-150K AND BOTH FAMILIES OWN ONE INVESTMENT PROPERTY & PAYING OFF OWN HOME
HUSBANDS SAY WE WON’T GET FINANCE APPROVED BECAUSE 2 ARE STAY AT HOME MUMS AND THIRD EARNS 41K
EQUAL DEPOSITS (3 X $10,000)
ANY ADVICE WOULD B APPRECIATED
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
November 5, 2004 - 11:20 pm
It will be difficult with just the one income betwen the three of you.
However if there is sufficient equity in an IP then it may be quite possible to do something with a NODOC loan.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985
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Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
kp
Member
@kp
Join Date: 2004
Post Count: 509
November 10, 2004 - 8:14 am
What is the possibility of the husbands going guarantor for the IP loan?
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
November 10, 2004 - 2:17 pm
unless they are on title, it will be difficult – third party guarrantees.
Terryw
Discover Home Loans
Mortgage Broker
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au