Hi There,
I have a friend who has their heart set on a property in Melbourne's west. They do not qualify for a bank mortgage but are earning about 70k+ a year and are eligible for the 1st home owners so you are looking at a 20k+ deposit. What we are looking for is someone who is willing to become the vendor and do a wrap deal with them. Please let me know if you are interested or know of someone who would be interested.
my name is Paul and number is 0406 963 941 or email [email protected]
What is the original purchase price and what are they expecting to purchase the property for.
Richard Taylor | Australia's leading private lender
yeah what he said whats the purchase price and what they looking to buy it for, and what interest rate?
They are looking to buy a house in Tarneit at approximately $340,000 – 370,000.
Looking at paying $10,000 above purchase price, at a 1.5% increase in interest rate.Paul
Paul
i have sent you a response to your email.
A 10K mark up wont even cover half of an investors purchase costs so certainly no one is going to consider that.
$20 – $25K mark up is readily available on deals in Vic with a purchase price of $180-$220K so at $340-$370K the risk is ridiculous.
Why would someone buy and property and help someone out only to loose money from day 1.
Richard Taylor | Australia's leading private lender
take into account monetary value over time, that 10000 becomes non existent, your looking at 50k markup with 2% interest in 340-370 price range before people will begin to look at it
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