Ive just borrowed a fair amount of money and was going to invest it in commercial property in AUS but this forum has got me interested in NZ residential.
Beacause of my way my income is set up (i filed a nil return last year) ive had to borrow low doc.
If i was to use this money to purchase properties in NZ what are the chances of me borrowing against the equity in these properties in NZ to purchase more properties in NZ?
There is no need to purchase the NZ properties outright; you can get Low Doc finance in NZ, cheers.
Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
You can also get low docs for NZ property. So I would say your chances are good.
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
Because you do not have security in New Zealand you need a 20% deposit. Because you are buying positive cashflow properties we can establish a structure that will make it far easier to get future finance. But as long as you have the 20% deposit it will be easier than here.
In Australia because most properties are negative the banks with only a 10% deposit will look far more closly at you ability to make repayments
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
service and seminarsNigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Thanks for that guys, now all i need it to find the properties. Any Bird dogs feel free to contact me [aacool]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
