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Hi,
I am also new to this and have a quick question to get me started on the road to financial independence.
I am an Australian Citizen who works in Europe on a contract basis. Most of the money I make is based on commission and tips so I have no real proof of my true earnings but generally am able to have true savings of minimum $50,000 per annum.(also all my living costs are taken care of whilst working)
I have $80,000 dollars saved and another $90,000 invested in a share portfolio which although performed bad when initially invested in Feb 2002 has now turned the corner and is doing quite well.
I have trouble getting a loan however due to the fact I struggle to prove my income. As I will be buying my first investment property I don’t really want to spend more than the 250,000 mark so even the amount I wish to borrow would not be high.
And advice for where to look for loans for someone in my situation would be much appreciated[blush2]These days No Doc type loans are available at 70% LVR. This would be the easy option for you.
Terryw
Discover Home Loans
Parramatta
[email protected]
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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