Recommendations for Best Current Investment Loan?

[Deactivated] on 13/02/2020 - 14:28
Last edited 13/02/2020 - 14:29

Hi,

Is it best to use a broker or direct?
I'm looking to buy a corner block, it has sub-division approvals.

Plan is to do minor renovations and live in corner home, and 6-10 months later start building on the empty block and basically sell and move into new home.

I figured it's best to just do an investment loan for 1-2 years, and put that money into renovations etc

Any tips? Advice inregards to best bank or financial institution for an IO loan?

Thank you

Financial Investment

Comments

  • mortgagebroker on 13/02/2020 - 16:35
    +1

    If you are moving into the house why would you do an investment loan?

    Go see a broker to make sure you set up your structure correct.

    • [Deactivated] on 13/02/2020 - 18:46
      -2

      Because I'll be selling it after a year? Why pay P on it, when I'm just flipping to build and move nextdoor.

      I can save that 6-7k and put it towards the renovations. It makes perfect sense.

      • mortgagebroker on 14/02/2020 - 11:01
        +3

        You can still do IO with an Owner Occupied loan.

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