I am looking for someone who is currently selling an established home or land through vendors finance, or who would be willing to buy a block of land I can supply and sell to me and my investors through vendors finance. Located in Newcastle or in surrounding areas or anywhere in Australia
How much deposit do you have too put down ?
Yours in Finance
Richard Taylor | Australia's leading private lender
1000 as I am looking to keep as much capital as possible to keep reinvesting into property
I’ve done a little in this area. Michael, $1000 is a good start for saving. I would want to see more like 5% of the total price. Eg. I have a house to sell under VF terms, 200k, I want 10k deposit. 1K is far too small or did we get something wrong?
Adrian Cahill | AdrianCahill.com Personal Development Expert
http://adriancahill.com/from-investor-to-coach/
Email Me | Phone MeHere since 2002, however things have evolved over the years.
Agree with Adrian.
With all of our deals we would want to see a lot more than 1K deposit as it wouldn’t even cover our set up costs.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Do you have any positively geared property, around the 100,000 mark, as I can get access to more money(Around 5000 or more), just seeing what my options are to do this with as little money down to start with
No nothing at $100K. Do have a property I am selling on VF for $127.5K which is rented at $190 / week to the same Tenant who has been there for the last few years and wants to stay forever.
Requiring $10k down on that property plus legals.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Richard What are the usual terms for VF like weekly repayment costs?, time frame of loan?, and how many people are allowed to purchase the property?, eg i am planning to do this with 3 other people at 25% each for costs, and what are the towns these properties are in ?
Hi Michael
We structure our VF sales in a variety of ways depending on the Term required but traditionally it would be over up 25 years at a variable rate of circa 6-6.5%.
It doesn’t worry me how many people purchase the property so you could look at doing it as 4 x individuals or each of you owning a share in Corporate Trustee.
Structure is something i am open to.
As far as location flick me an email and I can give you further details. Also can send you a copy of an API interview i did which covers of on some of the ways we built our property empire including offering Vendor Finance for cashflow in the early years.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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