Mortgage and new business
Jul 1st 2007, 10:34 am
#1
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Location: Aarschot Belgium
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Mortgage and new business
Hi,
Just wondering if anyone can help us here.
Were looking to move to Oz next year and buy a business that has been operating for several years already. What would be the chances of buying a house straight away.
We would be looking at a house between 300k and 350k and would put down 75k as a deposit.
Which way should we do it, through a bank or a broker? and how would it work as we read something about No Doc loan, what is this?? or a rams no doc?? any ideas??
cheers
Just wondering if anyone can help us here.
Were looking to move to Oz next year and buy a business that has been operating for several years already. What would be the chances of buying a house straight away.
We would be looking at a house between 300k and 350k and would put down 75k as a deposit.
Which way should we do it, through a bank or a broker? and how would it work as we read something about No Doc loan, what is this?? or a rams no doc?? any ideas??
cheers
Jul 1st 2007, 2:01 pm
#2
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Joined: Jan 2004
Location: Hillarys, WA
Posts: 334
Re: Mortgage and new business
Hi,
Just wondering if anyone can help us here.
Were looking to move to Oz next year and buy a business that has been operating for several years already. What would be the chances of buying a house straight away.
We would be looking at a house between 300k and 350k and would put down 75k as a deposit.
Which way should we do it, through a bank or a broker? and how would it work as we read something about No Doc loan, what is this?? or a rams no doc?? any ideas??
cheers
Just wondering if anyone can help us here.
Were looking to move to Oz next year and buy a business that has been operating for several years already. What would be the chances of buying a house straight away.
We would be looking at a house between 300k and 350k and would put down 75k as a deposit.
Which way should we do it, through a bank or a broker? and how would it work as we read something about No Doc loan, what is this?? or a rams no doc?? any ideas??
cheers
Jul 1st 2007, 3:45 pm
#3
Forum Regular
Joined: Jul 2006
Location: Oz & UK
Posts: 49
Re: Mortgage and new business
Hi,
Just wondering if anyone can help us here.
Were looking to move to Oz next year and buy a business that has been operating for several years already. What would be the chances of buying a house straight away.
We would be looking at a house between 300k and 350k and would put down 75k as a deposit.
Which way should we do it, through a bank or a broker? and how would it work as we read something about No Doc loan, what is this?? or a rams no doc?? any ideas??
cheers
Just wondering if anyone can help us here.
Were looking to move to Oz next year and buy a business that has been operating for several years already. What would be the chances of buying a house straight away.
We would be looking at a house between 300k and 350k and would put down 75k as a deposit.
Which way should we do it, through a bank or a broker? and how would it work as we read something about No Doc loan, what is this?? or a rams no doc?? any ideas??
cheers
Good Luck with your plans.
Jul 1st 2007, 4:01 pm
#4
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Joined: May 2007
Location: Aarschot Belgium
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Re: Mortgage and new business
Hi,
We're looking in north Qld.
I'd prefer to have a loan on a house and not on a business, as wouldn't be able to pay the house off fully, but shall be getting incontact with an accountant before anything serious is decided.
I guess that they will be able to help us.
Cheers
We're looking in north Qld.
I'd prefer to have a loan on a house and not on a business, as wouldn't be able to pay the house off fully, but shall be getting incontact with an accountant before anything serious is decided.
I guess that they will be able to help us.
Cheers
Jul 1st 2007, 4:52 pm
#5
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Joined: Apr 2004
Posts: 34,649
Re: Mortgage and new business
Have you had experience of running a business? And also, you should give consideration to setting up your own business, not paying lots of cash for another business that might not have much intrinsic value.
Be careful. Lots of people lose money when they buy businesses.
Jul 1st 2007, 6:25 pm
#6
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Location: Aarschot Belgium
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Re: Mortgage and new business
hi,
At the moment i have a business in belgium that i run, and am share holder of another one one the costa blanca in spain. have had plenty of experience with smaller businesses, up till 20 employees.
And yes your right, your better off setting up a business from scratch than forking out money to take it over.
Unless you can find the right business with the right motivations for selling. ie moving, retirement or something in that line(genuine sale) than your better off keeping your money in ur back pocket and waiting for the right oppertunity.
cheers,
Alex
At the moment i have a business in belgium that i run, and am share holder of another one one the costa blanca in spain. have had plenty of experience with smaller businesses, up till 20 employees.
And yes your right, your better off setting up a business from scratch than forking out money to take it over.
Unless you can find the right business with the right motivations for selling. ie moving, retirement or something in that line(genuine sale) than your better off keeping your money in ur back pocket and waiting for the right oppertunity.
cheers,
Alex
