Hey Peeps,
I'm doing a reno at the moment and as always it seems the price has doubled and i need to get it done asap. I contacted my bank and they said the minimun i can increase the loan is by $10,000 i only need like $3000 so could i go and get a personal loan for $3000 and claim the interest in my tax. I'd be able to pay the loan of within 5 weeks but at the moment im not sure whether to wait without a tenant until i have enough money to pay it off or get the loan and get a tenant in asap. As always any help would be greatly apprerciated
Tony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email MeNSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
credit card? may work out cheaper
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I'd consider what Terry mentioned. Besides, tapping into equity can take a while. They need to assess the loan, issue loan docs, you sign and send back, they process and settle. It can take up to a month.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Terryw wrote:credit card? may work out cheaperDone
so much easier than a loan. Tsk tsk what was i thinking lolTony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email MeNSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
so much easier than a loan. Tsk tsk what was i thinking lolYou must be logged in to reply to this topic. If you don't have an account, you can register here.
