W
WebBoard
Guest
From: Steve Hadfield
My business partner and myself have recently purchased a Home and Land Package for investment purposes in Sydney. While construction on it is about to commence we are a little frustrated with our inability to secure further deals due to our low equity position. Finding the deals is not our problem. Coming up with the money is!!!!
We know people who we could approach with a view to using their equity. How could this be done?
1. Would the equity partner need to lend us their LOC (presuming they have one) which could then be used as the deposit? I am presuming that there would be no need for them to appear on the loan or property title?
We would be prepared to pay them maybe 10% interest on the amount they loan us, plus a lump sum out of the profit of the deal.
2. Would a better approach be to bring them in on the loan and property title, with the bank using their equity as security?
Maybe someone has a better suggestion. I would welcome your thoughts.
Regards,
Steve Hadfield
Director, Hadon Developments Pty Ltd
A.C.N. 085 154 187
My business partner and myself have recently purchased a Home and Land Package for investment purposes in Sydney. While construction on it is about to commence we are a little frustrated with our inability to secure further deals due to our low equity position. Finding the deals is not our problem. Coming up with the money is!!!!
We know people who we could approach with a view to using their equity. How could this be done?
1. Would the equity partner need to lend us their LOC (presuming they have one) which could then be used as the deposit? I am presuming that there would be no need for them to appear on the loan or property title?
We would be prepared to pay them maybe 10% interest on the amount they loan us, plus a lump sum out of the profit of the deal.
2. Would a better approach be to bring them in on the loan and property title, with the bank using their equity as security?
Maybe someone has a better suggestion. I would welcome your thoughts.
Regards,
Steve Hadfield
Director, Hadon Developments Pty Ltd
A.C.N. 085 154 187
Last edited by a moderator: