All Topics / Finance / finance

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of ekronekron
    Member
    @ekron
    Join Date: 2007
    Post Count: 4
    February 25, 2007 - 6:18 am

    I am currently overseas earning good money. My plan is to come back to Australia and go into full time renovation and property development. I will be living off my saving until I start generating a cash flow off the investments. I want to finance 80% on deals and fund the renovations with my own money. How do I qualify for a loan if I am not working?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 25, 2007 - 7:51 am

    You can get a Low doc loan or a No Doc loan if you are self employed.

    Terryw
    Discover Home Loans
    [email protected]
    Send an email to get my newsletter.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    February 25, 2007 - 10:45 am

    First thing you should do is apply for an ABN and that will at least open up the finance choices down the track.

    As an expat you could get 95% LVR so you might buy a couple of properties now and have them up your sleeve when you return.

    Cheers

    Richard Taylor
    Residential & Commercial Finance Broker.
    Licensed Financial Planner. Ph: 07 3720 1888
    [email protected]
    New Shared Equity scheme has arrived – Email us for details.

    Richard Taylor | Australia's leading private lender

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.