Hi everyone,
I am curious as to how can I obtain a loan for an undervalued property that is up for sale and owners are desperate to sell. The opportunity is perfect as there is the possibility of positive gearing.
My intention is to obtain an Interest Only loan and let the property manage it self, aiming to sell the property at a higher price and pay off the mortgage.
The problem is that I’m not employed. I am sort of but say less then $10k per annum. Is it possible to obtain a loan in this case?
I’m dying for any suggestions & ideas.
Thank You!
Cheers,
SerkanIt really depends on your deposit.
If you can settle with a 70% loan then anything is possible.
Alternatively can you source some money elsewhere? Family or friends?
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.
I was thinking of nothing down option. No deposit. Is this possible?
Cheers,
SerkanHi Serkan, There are several ways you may be able to purchase the property. Just depends on you cash position.
Regards
Mark
Thurston & Associates Mortgage Brokers 5528 3220Hi Serkan,
In finance I wouldn’t ever say anthing is impossible, but this is about as close to it as it gets.
Regards,
Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044
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