Today’s tip really hits the nail on the head for me i.e ‘seek help if you don’t know what you are doing. Ignorance is expensive’
No matter how much I read about it I still cannot get my head around how you are able to finance multiple properties without using your own money or low money down and also not paying out for mortgage insurance.
We have read and researched and are more than willing to now take action but until I can erase this ‘fear’ of structuring the finances wrong it is holding us back from proceeding.
Can anyone help out with some practical advice/explanation which will make it clear?KT
Hi kerry,
Regarding finance structure, It’s hard to be specific without being privy to your personal details and future goals,
I would suggest you contact a Mortgage Broker, there is no shortage of them on this forum,cheers.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Thanks Steven. I am in contact with a couple of brokers, maybe I need to keep looking!
KT
It is no big secret… you either use equity in existing properties (where you may need to pay mortgage insurance), negotiate settlement terms that do not require large amounts of money to be put in or get the money from someone else.
Personally, I think unless you have family or close friends willing to give you the money when seeking money from someone else, I would be worried about the person who agrees to give you the funds. An investor would have to be pretty silly to give money to an inexperienced investor or an individual who is not an established, licensed and insured property investor.
_____________________________________________
The poster formally known as The Mortgage Adviser
When I grow up, I want to be a Storm Trooper!
You must be logged in to reply to this topic. If you don't have an account, you can register here.
