Hi all,
I'm new to this forum and this is my first post. I'm hoping to receive some of your wisdom.
Has anyone heard of Unity Funding by Dominique Grubisia? If you have, what are your thoughts on what they propose?
So you understand why I'm asking this question I'll tell you a little about our situation and out journey so far:
My husband and I are trying to get into our own home (for starters). We have very little in the way of savings ($20k ish) and cannot save faster than property prices are increasing. We currently don't pay rent (living with parents) and I am a stay home parent (childcare out of pocket costs are more than I earn).
While we have a free roof over our heads we see our solution to be manufacturing growth in investment properties. The strategy that appeals to us the most is to buy below median value, renovate ourselves (except structural building, electrical and plumbing of course) then sell. We are completely confident that this is something we can achieve.
However, we still have a problem with funding. For personal logistical reasons, whatever property we purchase initially needs to be within a 2 hour drive of Sydney. From the research I've done we'd need to have a project budget of $400k-450k minimum. Getting finance for that is something we haven't been able to achieve...yet. So perhaps a joint venture is the way to go.
Which brings me to my original question. My husband went to a Dominique Grubisia seminar last week....run by Zadel Property. She mentioned her finance group called Unity Funding (my husband may have written this down wrong). She said that they will fund the entire project, take 100% of the risk and take 55% of the profit. I don't know what the conditions are to get the funding. To me this sounds like a joint venture so I thought it was worth a look, but I cannot find anything online mentioning Unity Funding. I'm sure there is a catch somewhere (besides the 55% cut), but if there isn't this is an arrangement that we'd be interested in to get started.
Thanks in advance for your advice and opinions. I welcome everything you have to say because it may well help us along our journey
I'm new to this forum and this is my first post. I'm hoping to receive some of your wisdom.
Has anyone heard of Unity Funding by Dominique Grubisia? If you have, what are your thoughts on what they propose?
So you understand why I'm asking this question I'll tell you a little about our situation and out journey so far:
My husband and I are trying to get into our own home (for starters). We have very little in the way of savings ($20k ish) and cannot save faster than property prices are increasing. We currently don't pay rent (living with parents) and I am a stay home parent (childcare out of pocket costs are more than I earn).
While we have a free roof over our heads we see our solution to be manufacturing growth in investment properties. The strategy that appeals to us the most is to buy below median value, renovate ourselves (except structural building, electrical and plumbing of course) then sell. We are completely confident that this is something we can achieve.
However, we still have a problem with funding. For personal logistical reasons, whatever property we purchase initially needs to be within a 2 hour drive of Sydney. From the research I've done we'd need to have a project budget of $400k-450k minimum. Getting finance for that is something we haven't been able to achieve...yet. So perhaps a joint venture is the way to go.
Which brings me to my original question. My husband went to a Dominique Grubisia seminar last week....run by Zadel Property. She mentioned her finance group called Unity Funding (my husband may have written this down wrong). She said that they will fund the entire project, take 100% of the risk and take 55% of the profit. I don't know what the conditions are to get the funding. To me this sounds like a joint venture so I thought it was worth a look, but I cannot find anything online mentioning Unity Funding. I'm sure there is a catch somewhere (besides the 55% cut), but if there isn't this is an arrangement that we'd be interested in to get started.
Thanks in advance for your advice and opinions. I welcome everything you have to say because it may well help us along our journey