All Topics / Help Needed! / offer us a wrap deal.

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  • Profile photo of tmrtmr
    Member
    @tmr
    Join Date: 2003
    Post Count: 29

    Hello all.

    We (sister and brother) have found a property we would like to buy, but can’t get enough finance to buy it ourselves. We are looking for someone willing (flexible) to offer us a wrap deal.

    The basic outline.

    An eight bedroom house, four up and four down; located on Brisbane south side, about four kilometers from the CBD. Down stairs is fully self contained and rented out currently generating just under $400 a week. We plan to live upstairs in the house, and continue renting the downstairs area.

    1.We have stable employment, but have both been employed for less then 6 months. (Recently returned from overseas travel).

    2.I am eligible for the first home owners grant.

    3.Including the grant we have a minimum $30 000 for deposit.

    4.Current combined income, gross, is about $62 000.

    5.Are developing additional income sources.

    6.No credit problems we are aware of and a savings history.

    The asking price for the house is not yet fixed, but is said to be in the high 400’s.

    We have done our sums, and do not believe the repayments are beyond us, even in a worst case scenario.

    If you would like additional information, please email me!

    Thanks for taking the time to read my listing.

    Cheers,

    Mark

    [email protected]

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    Are you certain you cannot get finance?

    Get yourself a good broker.

    Cheers,

    Simon Macks
    Interest Free Home Loan Agent
    http://www.mortgagehunter.com.au
    0425 228 985

    Fully Accredited With Derivex PTY LTD and IFHL PTY LTD

    ***Ask about our Interest Free Home Loan***

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    Sounds like a 100% deal to me!

    When I grow up, I want to be a storm trooper!

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337

    Have you factored in legals and stamp duty.

    You don’t have much of a deposit.

    NOt to say it can’t be done, but it sure will be tricky.

    Byronent
    Adelaide SA

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

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