Investment Proposal Given. Just Need To Say Yes...what am I missing??

[PropertyPadowan]

Hello All.
I say that if we intervene well enough, there won't be any board members left to meet on Wednesday....
On a different issue though, I am really wanting some advice from the gang.

I have been presented with two proposals. To buy 2 properties. One would involve a complete 100% purchase and the other would be a 50/50 with another party.

Facts:
- My wife and I live in Japan earning a reasonable salary that, on our spreadsheet seems to give us a decent DSR figure. (So there may be an issue of overseas lending)
- We don't have a huge savings history since we got married. (just over a year now.. yay)
- We don't really have a deposit for any of the venture.
- All up we are estimating $190K with rents from both of them at around $190 per week.
- I do have equity in my PPOR but I was hoping not to cross-colateralize.

Question: Can anyone foresee any problems I would have with trying to gain finance for such a venture? Further, any other problems in general that the Japanese sunshine has blinded my eyes to?

 

[always_learning]

Hello All.
I say that if we intervene well enough, there won't be any board members left to meet on Wednesday....
On a different issue though, I am really wanting some advice from the gang.

I have been presented with two proposals. To buy 2 properties. One would involve a complete 100% purchase and the other would be a 50/50 with another party.

Whats the clear exit plan for the 50/50 partnership? Otherwise avoid it like the plague. To put it into the Japanese perspective I would sooner rear end into a Yakuza's S65 AMG, than go into a partnership without a very clear and quick exit plan.

Facts:
- My wife and I live in Japan earning a reasonable salary that, on our spreadsheet seems to give us a decent DSR figure. (So there may be an issue of overseas lending)
- We don't have a huge savings history since we got married. (just over a year now.. yay)
- We don't really have a deposit for any of the venture.
- All up we are estimating $190K with rents from both of them at around $190 per week.
- I do have equity in my PPOR but I was hoping not to cross-colateralize.

Quick, call one of the mortgage brokers and ask for a LOC (Line Of Credit) on your PPOR. I used Rolf and was very statisfied (not that other Mortgage brokers on this forum would fail to statisfy). LOC Meaning you can pull money out of your PPOR without Xcolateralization! Which you can then use for your venture.

Question: Can anyone foresee any problems I would have with trying to gain finance for such a venture? Further, any other problems in general that the Japanese sunshine has blinded my eyes to?

Care to describe the venture?

Blinded by the Japanese sunshine...I dont know about that but if you dont want to get blind, dont sit under a cherry tree and drink really bad shochu!