How do i buy the house next door????

Hey all, just hoping for some different opinions on how i can buy the house next to my PPOR.

Just be speaking to my neighbour, who is now selling up after 10 years of having the property rented out. he is asking $250k as is (needs a good tidy up) or he wants around $280k after full paint, new flooring and concrete of front (which it doesnt really need) and concrete under back verandah which is just dodgy paving atm.


I can get hold of around 15k cash. my house is with westpac val $280k (april last year) and loan $223k.

I also have a half share of IP in ipswich - val $420k (oct ) loan $384000.

Plan is to fix up next door house and live there and rent out current PPOR, as next door has double garage and large verandah which mine doesnt. I can rent mine for $280pw.

The problem is, in september, i left full time work to pursue bookkeeping full time (i have been doing part time for two years) so traditional finance is out of the question. also looks like Rams 95% SE pro pack is no longer.

I have the income to cover the loan, but being self employed for such a short period makes things difficult.

An ideas greatly appreciated.
 
Will the Vendor consider 20% deposit on Vendor Finance terms ?

With BAS statements you may find somone take the deal to 80%.
 
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