Hello All,
We have Title to a ~300k property.
We earn ~70k pa (95% from one income)Banks basically knocking on our door to arrange loans, however if we include the cost of using equity as a deposit we’re nowhere near a +
Has anyone been asset and income rich but deposit poor? What did you do to work around that?
(…and a billion other Q’s)
I guess you have found that any property can be pos if your deposit is large enough.
The hard thing is to find a property pos geared with 100% finance.
You have plenty of deposit to use in your current property. You just need to find the one that fulfills your needs. If that is pos geared then you need to put in some hard yards to find one or pay someone to do it for you.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Have you considered looking further a field.
I find the US is an excellent market for +cash flow properties
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Thanks to you both.
Yes +gear on 110% finance is difficult, but we don’t necessarily need that if something can be done with the deposit. Wrap? Group? or a share of future profits…..
As this our first IP further afield is only 6hrs drive range from Perth WA.
Whilst US seems great for investment I’d like to be able to view the property first & when needed. So until we have enough passive income it’s (mostly) out of the equation.
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