No Deposit Required
- Thread starter Lofty
- Start date
One would assume that to be a given. However a similar property in the same area (although not brand new) is about $50~$100k less (from looking at RE.com) - and a similar price to Loty's getting you an older house on 1000+ sqm - all of which doesn't seem to leave that much margin for Lofty.... that is why I thought there was some major catch in the "free deposit" bit.
Cheers,
The Y-man
hi all
couple of things
Hi All
Here’s an opportunity to pick up a great property without having to put down a deposit.
We will finance 13% of the purchase price, INTEREST FREE for five years. If you can get an 87% loan, we will carry back $92,300 for five years, interest free.
Your costs to get into this beautiful property are Stamp Duty & Legals.
A what if you can't get 87% lend in this area.
and how in this market are you sure that the val will come upto the price you have put on the deal.
what if in 5 years this area goes backwards and is not worth not only the price you have put on the property but the 87% loan.
and last put not leased whats the demand fr rentals in lake macquarie area I don't seeit being pent up 15 and vacancy rates of 1% but I might be wrong.
the more I read the more I think
its we have a bit of a lemon here and not alot of use for juice so let try to flog it.
all the way up the coast from newcastle the properties have been being built for the retirees and they are becoming harder to find.
and alot of developers are holding stock or they built for the guys that said they would buy using barter points and they are left holding the bag.
so I think that 13% for 5 years is a big ask when you can drop the price by 20 to 25% and looking at the photo this is new not sure of the construction if full brick or board but you can get full brick under 600k and not see the water but be on it or at least across the road.
I think you need to sharpen your pencil on this one.
couple of things
Hi All
Here’s an opportunity to pick up a great property without having to put down a deposit.
We will finance 13% of the purchase price, INTEREST FREE for five years. If you can get an 87% loan, we will carry back $92,300 for five years, interest free.
Your costs to get into this beautiful property are Stamp Duty & Legals.
A what if you can't get 87% lend in this area.
and how in this market are you sure that the val will come upto the price you have put on the deal.
what if in 5 years this area goes backwards and is not worth not only the price you have put on the property but the 87% loan.
and last put not leased whats the demand fr rentals in lake macquarie area I don't seeit being pent up 15 and vacancy rates of 1% but I might be wrong.
the more I read the more I think
its we have a bit of a lemon here and not alot of use for juice so let try to flog it.
all the way up the coast from newcastle the properties have been being built for the retirees and they are becoming harder to find.
and alot of developers are holding stock or they built for the guys that said they would buy using barter points and they are left holding the bag.
so I think that 13% for 5 years is a big ask when you can drop the price by 20 to 25% and looking at the photo this is new not sure of the construction if full brick or board but you can get full brick under 600k and not see the water but be on it or at least across the road.
I think you need to sharpen your pencil on this one.
