Hi
I want to purchase a home with two relatives.
Situation:
One relative working $50,000 employed for 12 months.
One relative not working, with two kids, currently renting @185.00 per week
Myself just started new job @35,000 per year - already have ppor debt of $225,000 & ip negatively geared @150.00 per week out of pocket (loans in joint names & husband earns $55,000 gross per year).
What would be the best way of structuring a loan ie: three different amounts for each person or one loan with all three names on it. Could we also look at no deposit down loans?
Thanks
I want to purchase a home with two relatives.
Situation:
One relative working $50,000 employed for 12 months.
One relative not working, with two kids, currently renting @185.00 per week
Myself just started new job @35,000 per year - already have ppor debt of $225,000 & ip negatively geared @150.00 per week out of pocket (loans in joint names & husband earns $55,000 gross per year).
What would be the best way of structuring a loan ie: three different amounts for each person or one loan with all three names on it. Could we also look at no deposit down loans?
Thanks