All Topics / Finance / Wanted Wrap Mortgage on a Motel

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of trevor Lakertrevor Laker
    Member
    @trevor-laker
    Join Date: 2007
    Post Count: 6

    Hi everyone
    I own a lease on a motel and although i own a couple of houses i can not extend myself to borrow enough money to purchase the freehold. The property needs some work
    Purchase price including costs 650K over 15yrs
    I Pay currently 70K rent per year $5880 per month inclusive of GST
    I am trying to find a lender that can get 650K for me which i can repay @ 8.5-9.%
    If the borrower can get the finance @ 7.25 they would make $11,200per Annum after costs for 2 yrs only
    then re negotiate how we devide the profit from the deal

    The monies that I save between Renting and Purchase would be spent doing essential repairs that the current owner refuses to do. This would also increase the value of the property (includes re painting)
    please if this Intrests anyone get in touch[glum2]

    Profile photo of mortgageadvisormortgageadvisor
    Member
    @mortgageadvisor
    Join Date: 2007
    Post Count: 31

    I will be able to assist you with your query on 0413 594 675.

    Cheers

    Equity Finance & Mortagage
    Mortgage Advisor mob: 0413 594 675
    Residental & Commercial Specialist

Viewing 2 posts - 1 through 2 (of 2 total)

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