private lending short term

Viewing 10 posts - 1 through 10 (of 10 total)

Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
September 9, 2007 - 6:13 am
i am having constructed a number of properties funded by a developer and at time of completion i need to settle 21 days after
i want to move these properties on asap without having to bank fund them in and out
i need a lender to fund say up to 6 months finance on say 340,000 each property for a 6 month period whilst the property is marketed to sell on
advise interest
cheers
martin
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
September 9, 2007 - 7:28 am
Martin
Which State are they located in and what is the LVR.
Any reason why you dont want Bank funding would be a lot cheaper.
Richard Taylor | Australia's leading private lender
Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
September 9, 2007 - 6:05 pm
Qlds007 wrote:
Martin
Which State are they located in and what is the LVR.
Any reason why you dont want Bank funding would be a lot cheaper.
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
September 9, 2007 - 6:07 pm
hi
they are in queensland basically im loath to set up a loan has it would have to be low doc 80 lvr have set up fees then exit fees within 6 months est 10,000 costs i need short term funding has an alternative
martin
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
September 9, 2007 - 10:01 pm
Martin
With all the nodoc / lodoc short term financing we deal with you will have similar costs.
Maybe set up costs instead of exist fees but certainly the rate will be considerably higher.
Richard Taylor | Australia's leading private lender
dimecho
Member
@dimecho
Join Date: 2007
Post Count: 9
September 9, 2007 - 10:46 pm
Hi All,
I'm also looking at morgage for about 4 weeks and don't want to go through the stuffing around of loan apps, fee, exit fees ect.
Any idea on how I can borrow money on a short term contact? Interest rate donesn't worry me too much as its only for 1 month.
In Victoria as well if that matters.
Cheers,
DIM
lovelyjv
Member
@lovelyjv
Join Date: 2007
Post Count: 9
September 9, 2007 - 11:33 pm
Hi Alwayslearning,
We might be able to help you, please email me at this address lovelyjv@optusnet.com.au. We would like to just get the details from you.
lovelyjv
Member
@lovelyjv
Join Date: 2007
Post Count: 9
September 9, 2007 - 11:39 pm
Hi Dimecho,
email me at lovelyjv@optusnet.com.au will get details of what you need.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
September 10, 2007 - 5:09 am
DIM
Sure what LVR and where is the property ?
Richard Taylor | Australia's leading private lender
Mortgageman
Participant
@mortgageman
Join Date: 2004
Post Count: 164
September 11, 2007 - 1:38 am
It is possible to get short term private funds at 80% as a straight asset lend, but the rates are up around 10% + and you would be looking at around 2% in set up costs.
Kind Regards,
Cameron Perry
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044
http://www.perryfinance.com