ARE THERE ANYONE CAN HELP
yorknxy wrote:i JUST BROUGHT IT. AND IT'S MY FRIST HOME. i HAVE TO WAITING 6 MONTH. i NEED 50000 FOR HOME IMPORV AND PAY BACK SOME MONEY FOR MY FRIEND.
<moderator: delete flame>
Your question is very confusing. You say you own this unit outright, but that you can't get a loan because major lenders won't lend for such a small unit. Then you say you want $50,000 for renovations and to pay back your friend, well sorry to say mate but noone is going to lend you money to pay back a friend, unless you want to try a loan shark.
JUST LOOKING FOR PRIVAT LENDER, FOR 12 MONTH
THANK S, MY ENGLISH NOT VERY WELL.
What home improvement? You just BOUGHT it, but waiting for 6 months
Confused!!!Richard, how do you separate the laundry in 21sq unit?
Some of them don't even have internal laundryGOM with great difficulty hence the issue in financing thru standard lenders
We did arrange finance for Yorknxy but she didnt want to take it up.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Probably wants 9% or under with no app fees!
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Wo… that is great Richard
You are able to find the finance for her
may be the interest too high????Well… stay away from this sort of mezzanie-like investment
THANK YOU RICHARD
I SHOULD TAKE THAT OFFER. BUT I MISSED.
what do u mean by 'You MISSED'?
Private lenders dont keep these offers open forever and a day so the offer had a acceptance date.
This stops customers merely using the offer letter as a tool to approach another lender and try and negiotiate a lower rate or better Terms.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Lesson learnt !
anyone can give me loan???????this week?
i did not use this offer as a tool
Any news yet? Able to refinance?
Richard good work on the private lender- a shame Yorknxy did not take up your recommendation! Yorknxy – i financed a 23 Squ meter student accommodation in VIC ( echo apartment) only last week..yes it was a private lender. But Yorknxy to be honest reading your post; i think im to scared to touch your loan!!<moderator: delete personal comment> But either way how did you go with this student accommodation? Regards Michael
Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Notwithstanding a couple of brokers were able to secure finance for this property this thread highlights the need for 'readily available & affordable finance' as a key component of any property research.
I wonder how many potential buyers would throw their hands in the air and walk away from this property purely because finance was too hard.
Unusually difficult lends are restrictive from a future lending perspective which can have a knock on effect for growth & re-sale prospects.
Derek- Agreed!
The property itself is fine, but due to how the bank perceive the risk ( which are created by THEM!) it make these unit’ pointless in term of capital growth and a headache in term of resale.
But one just has to look at the VIC market and can see the bank is getting it SOO SOOO wrong, there are so many new development ( ie the echo apartment_ where 20-40 squ meters units NOT just student accommodation are being built.
It’s a growing population, and lack of space and houses….it’s time to downsize and the bank should accept this fact!Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Hi Michael,
Might be a bit like penguins with the penguins being banks & investors with them both waiting for the other to consider these types of property to be 'norm' and thus looking at them with a more open mind.
I suspect banks and investors see risks in these types of properties which they don't see in something more 'normal'
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