Hello,
I was wondering if someone could help me out.
I am a very small business owner (tradesperson) who in future will be expanding and I thought buying my own small industrial block would be the way to go as I'm in no rush.
As I own no property, am self employed and have a family that is basically dependant on my income, I've read I am practically unloanable (did I just make that word up?), but I guess if I am seen to be worth the risk, I could get the loan for the land .. is this correct?
My question is, if I wanted to spend $100k on a block, could I get it on $50k deposit?
At this stage it would have no buildings etc. on it. Basically just a foot in the market and an expense I wouldn't have to worry about in the future in regards to our business growth.
Can I get a loan?
Thanks
I was wondering if someone could help me out.
I am a very small business owner (tradesperson) who in future will be expanding and I thought buying my own small industrial block would be the way to go as I'm in no rush.
As I own no property, am self employed and have a family that is basically dependant on my income, I've read I am practically unloanable (did I just make that word up?), but I guess if I am seen to be worth the risk, I could get the loan for the land .. is this correct?
My question is, if I wanted to spend $100k on a block, could I get it on $50k deposit?
At this stage it would have no buildings etc. on it. Basically just a foot in the market and an expense I wouldn't have to worry about in the future in regards to our business growth.
Can I get a loan?
Thanks