Any Hope



From: Jim Lawrenson

Hi All,

I have been lurking for a few days, trying to pick-up all the information that I can.

My situation is this.....I am presently in the middle of a divorce, after the property settlement my "wife" will probably get the marital home, and I should have about $220,000 cash.

As I'm disabled and in receipt of a Government pension, I will not have an income to show the lender ( apart from the pension ).

Is there any way I can enter the property market and possibly improve my income and standard of living ?

You guys obviously know your stuff, so any help would be greatly appreciated.

Many thanks,

Jim Lawrenson
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Reply: 1
From: Mike .

Hi Jim,

May I suggest you read all previous posts on this website and the original Somersoft site. Once you have done that you will realize that there is a strategy for most circumstances.

May I humbly suggest, on a low income, you stick to positive geared strategies. Some of these strategies require specialist knowledge, so find something you think will work for you and learn everything you can about it. Some people on this forum believe that creating your own niche and doing it very well is the way to go.

$200,000 is more than enough to establish a successful enterprise and gain the confidence of prospective lenders. Learn the art of professional presentations to put your deals across to the financiers.

Good Luck - Mike
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Reply: 1.1
From: Tristan Newman

you could try JV (joint ventures)

in other words you could provide the equity (for a small fee, or a share in the property)

while someone else provides the loan,

but you still need to do your investigation

"people who don't plan usually plan to fail"
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Reply: 2
From: Victor Mann

Don't forget any investment property will also generate an income Lenders will asses this at 75-80%. So you can add that to your serviceability. If you keep your borrowings low (say 60% of valuation) some lenders will look at it.Depends on your disability income as well


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Reply: 2.1
From: Anonymous


Do you have dependants??

What is your aim?

Hiding the future money you make from your

I'm not an advisor but here is some food for thought.

Make sure your setup is correct to begin with. Should be as a business if this is the case. Best to have a few exit plans.
Partners etc are a good way of hiding your
wealth with secondary contracts etc. lots
of paperwork to clarify deals & payout amounts etc. You've time to move if things
go wrong, ie greedy Wife.
You can do nearly anything you want to here
provided it's mutually agreed in writing with your partners & vaguely legal. Some things are also better not in writing if a seizure of your files takes place.
Make sure you use good solicitors & accountants if this is the case.
The best in the the business for what your
doing. If its property & hiding assets
they must have done it many times over
& obtain ref or proof.
I havn't actually had a need to hide my assets yet.
But my network of fin advisers sets me up in
this position to begin with.
Its good to think Worst case scenario at the
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