need advice

[tammyl]

Hi,
I am new to this forum but after some advice.
I live in New Zealand and involved in the dairy industry.
We are currently involved in 2 equity partnerships which own two farming properties. These properties are large scale.
We have approx. $500,000 tied to both properties. We also manage one and receive a salary of $90,000.
We have two investment rental properties value $125k with loans of $102k. These loans are interest only until March then would like to revalue and keep int only.
We might receive shareholder payments from our shares in our farming properties but this is dependant on production and payout for milk produced.
I would like to hear of any ideas of how we might use the $500k as collateral for more investment properties.
We have no other debt.

Tammyl

 

[yeslist]

Hi Tammyl
Does the 500k farm investments have a track record yet or can you substanciate an income declaration to help your serviceability so you could maybe use "low doc" loan products (if they have them over there?)
Just some thoughts
Kind regards
Simon

 

[tammyl]

One farm is in its 2nd year and the other only in the first. We cannot use the money as security as it is tied to the farm security.
So not really a track record yet. Not sure that we have low doc loan products over here but will look into it. Thanks for the advice.