INVESTMENT OVERVIEW
The Borrowers have a background in buying and flipping properties with experience in short-term property investment strategies.
The purpose of this loan is to refinance an existing loan.
The Borrowers can’t get bank finance due to a higher LVR requirement, income verification hurdles, and the need for a fast funding solution.
Security on offer includes three separate properties in Nambour, QLD (investment property; vacant land), Gympie, QLD (investment property; vacant land) and Nambour, QLD (residential property on a 1,839 sqm lot with an existing dwelling).
The exit strategy is to sell the two investment properties, which are both currently listed on the market.
This loan has a three month pre-paid loan term, with the option for three monthly extensions.
SECURITY DETAILS
- The loan will be secured by three First Mortgages
- Two Personal Guarantees from Individual Sponsors
- One General Security Agreement over Corporate Sponsor + PPSR Charge
