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Topic: Where to get a 1st Mortgage investor finance

Last Post 14 Oct 19 by Rachel_W, 0 replies Sort by:

Author Post

Joined 14/10/19
1 posts
Where to get a 1st Mortgage investor finance
Posted 14 Oct 19
With investment rates being at all time lows, is it worth finding an investor who is seeking a decent return on their funds.

Two houses in Wellington, with two rental properties currently, where next year a multi unit complex will be built next year. Looking for first mortgage funding of $1.5m for 1 yr, which would also have 1 yrs interest payments held in a Trust account for the investor. The LVR on the property is under 50%, so the investment risk is not high. Have finance approved through an institution, but just thought Id reach out if anyone thinks there would be interest in deals like this for people sitting on cash and want a higher return. to save a finance co getting the business. Eventually would need funding for the development with presales in place - LVR of under 50% the following year or just close out the investment.

Keen to hear from anyone who has sought this sought of finance, or its of interest.