Hi,
just wondering on the general requirements for a commercial property. What sort of loan to deposit ratio must there be… if i have no equity or other properties in my name. What sort of credit history would i need?
thanks,
GiladGilad
Dependant on the type of property you could obtain between 70-80% of valuation maybe slightly less if it was a specialised security.
This means 20-30% deposit enough for acquisitions costs and subject to income you are in with a shoot.
Credit history is important for a higher lvr although the history of the tenant is probably just as important. I am assuming that your credit history is not blemished.
Cheers Richard richard@yourstatefinance.com
http://www.yourstatefinance.com
Development Finance & US Finance our speciality.Richard Taylor | Australia's leading private lender
Your credit history can be incredible but you will not be able to buy a commercial property without 20-30% deposit and sometimes more if a first-timer.
TMA
http://www.email4money.info
Essential Links
First Home Buyer WebsiteOriginally posted by TMA:Your credit history can be incredible but you will not be able to buy a commercial property without 20-30% deposit and sometimes more if a first-timer.
TMA
http://www.email4money.info
Essential Links
First Home Buyer WebsiteHello Richard,
I’ve been a keen viewer of this site for some time and it’s now time for me to jump in with a simple question.What do you mean when you say ‘your credit history can be incredible’?
Look forward to your reply,
PeterTMA means that you could have a good and unblemished credit rating,but that won’t be enough to increase the LVR for a commercial property.
Tools… what Tools said!
By the way, my name is Robert, not Richard.
TMA
http://www.email4money.info
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First Home Buyer WebsiteRichard is the better looking one of the 2 of us.
Cheers Richard
richard@yourstatefinance.com
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
COULD BE ARGUABLE… then again???
TMA
http://www.email4money.info
Investor Links
First Home Buyer WebsiteI have never met Richard but he would have to be pretty good looking to beat Rob. Rob is some sort of inner city chick magnet.
Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I don’t know if it is a “magnet”… maybe the belly is just so big they bump into it. Probably more of a ‘dodgem car’ than a “magnet”!
In any case, I am more than happy with my girl!
TMA
http://www.email4money.info
Investor Links
First Home Buyer Website
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