Finance for 1st IP



From: Jack Nunnink

We are in the annoying position of having a high income business, but little equity/cash to purchase an IP. Our business is now 2 years old, and has a high (fixed by contract) net income. Other than going into a joint venture, can anyone out there suggest a strategy/financier who would consider lending 100% if we were to purchase an IP valued at say 110% of the purchase price? We are based in S.E. Old.

Last edited by a moderator:
Reply: 1
From: Rolf Latham

Hi Jack

Try liberty Finance, they will do high lends to high earners - stiff rates though.

I feel you may be better off saving a few bob and going for a 95 % loan


Last edited by a moderator:
Reply: 1.1
From: Robert Longmore

try NSW home loans. they are giving me 100% and all i need is the FHOG and proof of savings to 3% of the property value. their lender is Adelaid Bank and ING.
Last edited by a moderator:
Reply: 1.1.1
From: Scott Marshall

FHOG is not 100% though
Last edited by a moderator:
From: Robert Longmore

the $7000 FHOG covers all the setup costs of the loan, including mortgage insurance.
Last edited by a moderator:
Reply: 2
From: Michael G


Have you thought about what you want to buy?

I know you said no JVs, but have you thought of lease/optioning off a developer? Buy up one of their presales, not so much for below maket, but under the agreement that you lease/buy over a 2yr period, enough to build up a deposit?

That is, if you want an owner/occ home or something?

Just make sure the finance structure is yours and not theirs, there are some out their offering such finance packages, but I shudder to think how many little hooks there are in them :p

Last edited by a moderator: