I've seen you mention this a few times, and I know it's off topic, but could you elaborate as to why you need to show a profit for finance purposes?
Would you lend money to someone who couldnt repay?
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I've seen you mention this a few times, and I know it's off topic, but could you elaborate as to why you need to show a profit for finance purposes?
I've seen you mention this a few times, and I know it's off topic, but could you elaborate as to why you need to show a profit for finance purposes?
Mainly because when you don't have a standard job and you want to borrow in your company/trust name you need to show it's income for 2 years for the banks to like you. That income can be profits or rent.
I'm currently in the serviceability dead zone between leaving my job and not having enough Trust income for 2yrs.
CJay or Brady?
CJay is a top guy, am yet to have the pleasure of meeting Brady.
I've seen you mention this a few times, and I know it's off topic, but could you elaborate as to why you need to show a profit for finance purposes?
Hmm. On the rare occasion the thought crossed my mind, the wife and kids came first in the PPOR scenario. Haha.
TBH not sure where I would want to live. Acreage on the outskirts of a city sound appealing. That is a good point. Though I always pictured lump sum gains and using that to purchase a PPOR outright.
The decision to move from the outskirts to the LNS was the best decision we made - both personally and financially.
It would much more difficult for us to make that transistion now - so glad we did it when we could (before kids).
If you keep earning and saving enough then it should not be an issue - but sometimes the market in the area you want to buy can get away from you. Know quite a few people that wish that had of upgraded areas when they had the means to do so.
nhg,
Few quick ones:
are you planning to move to SA???
Do you have trustworthy team that you can count on??
Why not look for projects closer to home? Few H &L in sydney or Small Devy in vic sounds easier than SA.
I've seen you mention this a few times, and I know it's off topic, but could you elaborate as to why you need to show a profit for finance purposes?