How to finance???

Viewing 4 posts - 1 through 4 (of 4 total)

jackaroo
Member
@jackaroo
Join Date: 2004
Post Count: 2
January 16, 2004 - 11:11 pm
Hi, My wife and I have 3 investment properties and are looking to purchase some more. One of our properties has a 13% return P.A our second property has a 11% return and the third one is for sale and has a neutral return. I have a number of projects on the move at the moment which include the removal of 2 houses out to some land that we own in the country. Once these have finished we will sell one and I will be receiving a lump sum for the compleation of the other. We also are starting a renovation on a property in Redcliffe which will go on the market once complete. The reason I am listing off all this info is that I was wondering if anyone can suggest were to go for finance, to purchase some more positive cashflow properties. As I stand to earn about 50k from these projects.This is a conservative estimate but its just that an estimate. If anyone out their can give me a tip that would be just great.[]
Clint_2
Participant
@clint_2
Join Date: 2004
Post Count: 1
January 17, 2004 - 1:40 am
Hi Jackaroo,
What type of strategy are you planning to use to purchase you’re next couple of investments? Are you wanting to increase cashflow or build your asset column? Do you have a consistent source of income outside your property investments? All these things will have an impact on where you should go for finance.
I use a great mortgage broker who is able to provide fully disclosed wrap loans if that’s what you are looking to do.
My suggestion is to find someone who is able to give you a long term view of future possibilities, based on your property investing plans, rather than just getting the next loan through.
All the best with it!
Clint Glasgow
melbear
Member
@melbear
Join Date: 2003
Post Count: 2,429
January 17, 2004 - 1:45 am
Jackaroo, I’d contact one of the mortgage brokers on this forum, and run your income/assets/strategy etc. through them. They will let you know where you’re at, and can advise where to go from here.
Cheers
Mel
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
January 17, 2004 - 1:49 am
Hi Jackaroo
I agree with clint, just see a mortgage broker. It is hard to answer you question without all the relevant info.
Maybe you are also asking will lenders take the $50k profit from these deals into account? Generally, probably not until you have been doing it for 2 years and can support it by tax returns. They would probably see it as a one off capital gain.
Terryw
Discover Home Loans
North Sydney
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Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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