Hi Guys and Gals
I am trying to put a deal together on my own home. Don’t want to re-finance. Your thoughts would be appreciated. Here is my 1st attempt at working thru this.
MV = 420K, Purchaser gets a low doc 80% = $336,000. We carry an unregistered 2nd mortage for the difference $84,000 (with a caveat). Purchaser to pay the Stamp Duty plus all outgoings (rates,insurance etc) plus a $1500/mth payment to reduce 2nd mortgage. If payments are recieved on time $200/mth would be further discounted off the 2nd mortgage. We would rent back for 5 years at the going rate $400/week, plus we will pay the 1st $200/mth towards any maintenence items.
Not really expecting an investor to jump out of the forum (that would be nice though [exhappy] but more so some input from the more experienced professionals out there.
Regards
Craig Murray
0421178577http://www.realestate.com.au/realestate/agent/thomson+mulqueeney+estate+agents+wodonga/rqawod/103647439
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