Stephen from Aussie Housing Doctors got a call from a property owner who saw one of his advertising signs. This person, let’s call him “Pete”, had a negatively geared investment property in Branxton, NSW that he had been trying to sell unsuccessfully for quite some time. His agent’s only solution was to continually drop the asking price.
This was creating a problem where Pete, after paying the agent’s commission, would not have sufficient funds to pay out his bank loan!
After meeting with Pete and discussing his problem, Stephen suggested they join forces and find someone who wanted a home but was unable to purchase in the traditional manner, i.e. couldn’t get a bank loan at the time or did not have a large enough deposit or both.
Stephen advertised on www.buywithoutabank.com.au and found someone within nine weeks. The buyers, a young family with three children, only had a small deposit, but earned sufficient income to meet the required weekly repayments. This solution would enable them to build a larger deposit so they could eventually get the finance they need to complete the purchase of the home that they are now living in. To date the family is happy in their new home and the Pete is overjoyed that his negatively geared property is no longer draining him of money.
If you want to speak with Stephen contact him here.