Hi
My name is Brad, Im 17 and real keen to get my first investment property. Ive done a few coarses and heaps of research about where im going to buy but my biggest hurdle is finance I have about $15,000 saved for a deposit and I turn 18 in a few months so I am trying to get everything organised for then (unable to sign any forms etc until 18). I am an apprentice and earn only 250 p/w. CAN ANY ONE HELP ME WITH SOME ADVICE OR CREATIVE IDEAS ON HOW I CAN BORROW ABOUT 170000 FOR A RENTAL.THANKS AHEAP
BRAD SMITHHi Brad,
for someone so young you’re certainly on the right track. I’d suggest you talk to one of the many brokers on this site, because I’m sure they’ll be able to give you some good advice. Good luck with your investing.
LandtHi Brad
Is the $250 per week after tax or before tax?
Kerri
Financial Wellbeing Coach
W: http://www.pfsfinance.com.au
E:[email protected]
E:[email protected]Development Finance Specialist
If your living at home, and wish to buy a rental property firstly, you will be able to include potential rent as well – boosting how much you can borrow.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email meTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
hi brad,
like you i started when i was around 18. i too found it difficult initially to get anywhere with the banks, esp. on my own. after speaking with my fathers bankers i was able to get something arranged. my advice to you is that it certainly would be possible to do something. check your numbers and get in touch with a broker. try to build a good relationship with this broker as they will be invaluable in your future investment decisions. good luck, i hope you find great success with your decision.
Just to add what other said is you can think of finding partner to invest with you this can be your family or friends.
Good luckCheers
PropertyGuRu [sultan]
Mortgage Consultant
[email protected]
MSN ID: amitash, Yahoo Id: bornguruNZ loan pre approval from OZ in 48 hours
The first time I went for a loan I was 19. I had an appointment with the lending manager at a branch. It was afternoon peak hour and I was running late. There was nowhere to park, so I rode my motorbike up onto the footpath and parked it right outside the bank. I jumped off it and ran inside with my helmet still on. Then somebody screamed. And one of the tellers hit the panic button. I looked around to see what all the fuss was about and I realised it was about me. I didn’t think there was much point trying to explain that I was there for an interview and not a hold-up, so I walked out. Right when the cops were walking in. That’s when I had to start doing some explaining. They eventually saw my point when I said I probably wouldn’t make an appointment in my own name if I was going to hold up the place. They booked me for riding on the footpath.
I got the loan from another bank.Tax Depreciation Schedules
Australia wide service
1300 660033
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http://www.depreciator.com.au[biggrin] Thats funny Scott [bike2][bike2]
Cheers
PropertyGuRu [sultan]
Mortgage Consultant
[email protected]
MSN ID: amitash, Yahoo Id: bornguruNZ loan pre approval from OZ in 48 hours
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