Can anyone help me with a problem I have? I started a business 8months back I still work full time and work in the business on weekends and late at nights. At the moment I make about $450 profit a week with the business. I want to invest in property through the company as I have a deposit saved up but Ive been reading that it is impossible unless you have been operating for 2 years no matter how consistent your work/sales are. Is there a way around this or a banking institute that has better requirements?TheFinanceShopParticipant@thefinanceshopJoin Date: 2012Post Count: 1,271CorieParticipant@corieJoin Date: 2009Post Count: 113
Find a vendor finance opportunity!
Finance shop: it would be under 80% lvr but by the time it came close to settlement probably sub75%
Corie: that was another option I had been considering Im having trouble finding a suitable Vf property what’s a good way of finding them?TheFinanceShopParticipant@thefinanceshopJoin Date: 2012Post Count: 1,271Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Might be able to do it a full doc name in the Company name being sub 80% lvr.
Yours in FinanceJamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069
Are you saying you want to quit PAYG work and rely on business income to borrow?
If you’re continuing in your PAYG role and working the business at the same time – you could still put up an application using your PAYG employment.
Hi Jamie. I work in a full time job and use that salary for living expenses and my property portfolio I started the business originally as a get a bit of extra money to pay down my loans it took off bigger than I expected. So would I be able to use both payg from my full time job And the business and the profit from the business to buy in the company’s name or just the latter two? Also do full or low doc loans offer a offset account ability?Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Yes gumblepie both lodoc and full doc loans can come with an offset account.
Don’t see a problem financing a deal the way you want to.
Yours in FinanceTerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
Not a very good idea to invest in property in a company and certainly not a trading company. You could easily lose the property.