Hi All,
I am a first time investor and hoping to invest in some positive cash flow properties or some under 100k that are on the rise.
At present I have minimal deposit ($2000) – What finance providers etc do people recommend for a 100% borrow of anywhere between 50-100k ?
Are any better than others in the way of interest rates or types?
Thanks in advance
Scott
Save more money
For under a $100K sounds to me like a touch of rural / small country towns / even units.
Borrowing 95% will be hard enough let alone 100% plus costs.
Unless you have additional security my suggestion would to look at buying a PPOR first and benefit from the stamp duty concessions and FHOG which varies from $7-$10 depending on your location.
Only other alternative is negotiate some vendor finance with the deal.
Richard Taylor | Australia's leading private lender
Go onto http://www.realestate.com.au and put the price range as $0 to $150,000 and you will find out that it is really hard to find a property in this price range.
It all comes down to what suburb, the type of property and subsequent zoning. Lenders will look at each of these aspects more closely when you are borrowing at 95 and particularly 100%. If you were able to identify location, type and zoning then specifying what you may be able to achieve would be a lot easier.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
