Can somebody explain how I can get unlimited finance for second, third, forth, tenth, twentieth properties. My financiers cannot get there heads around the concept, pls advise me of anyone in melb who will be able to help me thx for your help.
unlimited – are you for real dude?
I aint no einstein man but even I can tell you your dreamin!!!!I do believe that “unlimited” finance is possible but not many people achieve that level. As I understand it the process is a journey and for some it may take longer than others. You would need to prove youself as a successful and professional investor over many deals. You would need a substantial asset base and multiple streams of income. Even then you would be looking at a number of financiers rather than just one.
I am nowhere near this place myself but this is my understanding of it and nobody will convince me that it is not possible.
Regards
SonjaHow about I lend it to you. Everyone knows my lending rate is fair, 30%.
it is possible, you just have to keep coming up with the deposits. If you are positively geared overall, you should be able to keep on going.
Terryw
Discover Home Loans
North Sydney
[email protected]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
Tinman,
I believe it was Stuart Wemyss (a moderator on this Forum) who wrote an article on unlimited finance in a previous edition of Australian Property Investor. Perhaps you can private message him and ask him what edition the article was in, and then buy a back copy of it. It was a good article, too :o)
kay henry
Thanks for your comments Kay.
I have uploaded a copy onto my website.
See http://www.prosolution.com.au/articles/unlimited.pdf
Cheers
Stu
Tin Man
Life doesn’t need to be taken that seriously. In answer to your question, the key to building your $ war chest is to build relationships with your bankers. If they trust you and you establish a track record, you’ll get your money. Apologies for any offence before, not intended mate.
Yorker,
I’m not sure that it’s just building relatoinships with one’s banker, that leads to unlimited borrowing. We’d probably all sleep with them if that were the case :o))) My bank has strict lending criteria. I think learning a few tricks (such as in Stuart’s article) is probably a better bet than the carnal route to unlimited wealth. [blush2] My own patterns I have developed, have shut down the concept of unlimited finance for a while, but it’s probably better if we train ourselves in the way of doing so, and not expect the banks to change their banking policies because of friendship.
kay henry
Very valid point. However, it is clear to me that no one in this country can boast having access to unlimited finance, for even our richest man Kerry Packer has conditions or limitations put on his finance. I was eluding to the fact that if a banker knows you and trusts you, you have a far greater chance of financing your deal than if they don’t know you from a bar of soap. In my experience property is largely a people game, your experience might be different.
I don’t think anyone would consider ‘unlimited’ finance as a bottomless pit of money accessible to buy anything they desire. There are ways to continually get funds made available for further investment but it will be looked at each time further funds are required. Most people will find that the well will dry up with one particular lender as their exposure limits get too high for that particular lender. Going to another lender will allow an investor to continue in most instances.
As long as Serviceability is adequate, the Security is suitable, the client has a good credit history AND the applications remain within the lenders policies and guidelines, there is no reason why the money won’t just keep flowing.
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