Vendor Finance

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From: Funky Whuff


Can someone please also explain vendor finance - sorry to come up with all these newbie questions, but it's the only way to learn!
Liz
 
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Reply: 1
From: The Wife


Liz,

Good on you for asking all the questions,

A lot of this ground has already been covered, look thru the archives, and then if you still are stuck, ask some more questions, as to your post above about 50K on the spot, maybe not on the spot, but you can make 50K very quickly in property, keep researching.

Buy in the right spots, I picked a winner at xmas , and in a couple of buying trips secured 12 houses in one suburb, all have doubled in price now, more than 50K worth. Keep looking , and ye shall find :eek:)

TW
~Life is a daring adventure, or nothing at all~
 
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Reply: 1.1
From: Funky Whuff


Thanks TW,
Most appreciated - I do have a question though, I have been looking around at lots of properties and am very interested in buying townhouses etc in the inner suburbs which are either brand new or relatively new (maximise tax benefits!) and most seem to be priced around the $300,000 mark. I don't have a lot of equity in my own house (bought with a friend - bought for $160,000 - currently mortgage at $151 or so (only bought with 5% deposit and settled three weeks ago), however I could probably get it revalued for around 180k-190k. What is the best way to finance an investment property around 300k - make sure I get a long settlement, use equity in my house (banks not convinced), use a deposit bond or what?? Any suggestions - what would you (or any experienced investor) do in this situation? I don't really want to wait to build more equity because I believe the market is going to keep moving - any help??? Thanks,
Liz
 
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From: John B


OK TW Don't keep it a secret!

Where did you buy 12 IP's?

JohnB
 
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Reply: 1.2.1
From: The Wife


IPSWICH!

TW
~Life is a daring adventure, or nothing at all~
 
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