Is this possible?
Discussion
Hi,
I've just seen a property business for sale. 1.2 million. Consists of 4 rental properties. Return of 9000 a month.
If I was to go to the bank and ask for a business loan to be used as a deposit for the houses what are the chances of them giving it to me?
I'm expecting to get plenty of sarcastic answers.
basically I've gone through it in my head and I'm 99% sure that they would say no. I just wanted others opinions
Cheers
I've just seen a property business for sale. 1.2 million. Consists of 4 rental properties. Return of 9000 a month.
If I was to go to the bank and ask for a business loan to be used as a deposit for the houses what are the chances of them giving it to me?
I'm expecting to get plenty of sarcastic answers.
basically I've gone through it in my head and I'm 99% sure that they would say no. I just wanted others opinions
Cheers
Guv10 said:
Hi,
I've just seen a property business for sale. 1.2 million. Consists of 4 rental properties. Return of 9000 a month.
If I was to go to the bank and ask for a business loan to be used as a deposit for the houses what are the chances of them giving it to me?
I'm expecting to get plenty of sarcastic answers.
basically I've gone through it in my head and I'm 99% sure that they would say no. I just wanted others opinions
Cheers
Given that you've given us no information about yourself and minimal information about the property, what sort of answers are you expecting?I've just seen a property business for sale. 1.2 million. Consists of 4 rental properties. Return of 9000 a month.
If I was to go to the bank and ask for a business loan to be used as a deposit for the houses what are the chances of them giving it to me?
I'm expecting to get plenty of sarcastic answers.
basically I've gone through it in my head and I'm 99% sure that they would say no. I just wanted others opinions
Cheers
Guv10 said:
Hi,
I've just seen a property business for sale. 1.2 million. Consists of 4 rental properties. Return of 9000 a month.
If I was to go to the bank and ask for a business loan to be used as a deposit for the houses what are the chances of them giving it to me?
how much of a deposit? How secure is the rental income? I've just seen a property business for sale. 1.2 million. Consists of 4 rental properties. Return of 9000 a month.
If I was to go to the bank and ask for a business loan to be used as a deposit for the houses what are the chances of them giving it to me?
Rental income is high due to it being student rents. The demand is very high.
I have nothing to put in and was just wondering if the bank would even entertain giving a business loan for a purpose of a deposit, which I guess would be 25%, so 300k
Pie in the sky I know, like I said I 99% sure they wouldn't but wanted to make sure.
I have nothing to put in and was just wondering if the bank would even entertain giving a business loan for a purpose of a deposit, which I guess would be 25%, so 300k
Pie in the sky I know, like I said I 99% sure they wouldn't but wanted to make sure.
Guv10 said:
Rental income is high due to it being student rents. The demand is very high.
I have nothing to put in and was just wondering if the bank would even entertain giving a business loan for a purpose of a deposit, which I guess would be 25%, so 300k
Pie in the sky I know, like I said I 99% sure they wouldn't but wanted to make sure.
Let's presume someone would give you £300k, where's the other £900k coming from?!?I have nothing to put in and was just wondering if the bank would even entertain giving a business loan for a purpose of a deposit, which I guess would be 25%, so 300k
Pie in the sky I know, like I said I 99% sure they wouldn't but wanted to make sure.
there may well be a few takers if this were a goer.
not saying they'd have much sense between them as if it really was this easy to make money, something in there, rental yields, capital growth (decline) or interest rates would move pretty sharpish to create some hard work somewhere in the business model.
not saying they'd have much sense between them as if it really was this easy to make money, something in there, rental yields, capital growth (decline) or interest rates would move pretty sharpish to create some hard work somewhere in the business model.
hajaba123 said:
Not in a million years will you get 100% finance for any sort of property company. Well, maybe in 2005...
Yield on that does seem a bit out, if it seems too good to be true and all that
Exactly what I thought. Too good to be true. The yield is very high but it's correct and demand is very much thereYield on that does seem a bit out, if it seems too good to be true and all that
Guv10 said:
Exactly what I thought. Too good to be true. The yield is very high but it's correct and demand is very much there
The yield is about right. This isn't a simple buy to let. There's work involved managing 4 properties and possibly 20 rooms.By the way is that £9k per month based on 9 months or 12?
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