Gday all
Thank you for your time in advance
I am casual full time and self employeed and not sure where to start for finance. i have $15k paid off one invest and $10k deposit looking for how to finance large amount for postive gear property?
Cheers
Ryan FisherHi Ryan,
Welcome to you, new member – you have come to a good place !When starting out, there is lots to learn, and I would suggest you take some time to devour the articles in the “Training Centre” on the Home page. read some good books, and make friends with some of the professionals on here (Mortgage Brokers, etc) as they can guide you, based on what all of your situation is. Share your whole financial situation with one you grow to trust, and be guided by their answers.
As well as that, take a look at the following thread, which is geared to answering many of new members’ early questions. Who knows, you may well learn the answers to questions you didn’t even know you had !! :p
https://www.propertyinvesting.com/topic/4410491-the-big-picture-for-new-readers-especially/Enjoy !! Keep on questioning – as you question, some answers will resonate with you, and help you to form your goals and thus set your path.
Benny
Hi Ryan,
Few questions – how long have you been casual in the job for? What % of your income is from your PAYG work and what % is from your SE work? How long have you been self employed for?
What do you mean by ‘paid $15k paid off one investment’? And what would you call ‘large amount’?
$10k won’t get you too far at the moment – what price point are you wanting to buy in?
Kinnon Bell | Kinetic Funding
http://www.kineticfunding.com.au
Email Me | Phone MeMortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.
Additional information needed to provide a structured response.
Casual employment is fine however we would need to know how long you have been in your current employmment.
In regards to your current investment property you mention that you have paid off 15K so it will depend on the available equity in this property whether you can access it to cover some of the costs.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Casual employment isn’t so much of an issue these days – lenders are realising that ~30% of the workforce is casually employed and need to accommodate this large segment of market.
First port of call would be organise a valuation on your existing investment property, if the value has increased since your purchase + the excess you’ve paid, you may have sufficient funds to draw against to make another purchase.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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