Hi Everyone,
How doe’s one go about getting finance for IP’s when on a low income? I own a reno IP outright valued at $200K. I intend to do up, about 8 weeks work and would like to buy a 2nd reno now so I can start work on 2nd reno when 1st reno is finished. I intend to sell reno’s as soon as they are finished thereby increseing my income.
Regards
eliteviewsD.E.Harding
Hi Elite,
I suggest you get in contact with a good broker and consider exploring the lo/no doc line of products that is available.
There are some good brokers here who regulalry post and I am sure they (if anyone can) would help out.
Derek
[email protected]Property Investment Support Available.
Hi
You would probably need to obtain a Low Doc loan. With most Low doc loans, you need to have an abn number for 2 years, but there are a few Low Doc products where you only have to have the abn for 1 day and you can obtain a low doc loan.
Kerri
Financial Wellbeing Coach
W: http://www.pfsfinance.com.au
E:[email protected]
E:[email protected]Development Finance Specialist
Hi Derek,
Thanks for your reply, I will speak to one of the lenders and see what they can do.
Regards
David
eliteviewsD.E.Harding
Hi Kwilko
Thanks for your reply Kerri, If I decide to go ahead with this, would this be something that you could look at for me?
Regards
David
eliteviewsD.E.Harding
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