I am looking for some advise on which way we should go. We would like to get into property investing, but know nothing about it. We have land that has no house on it, because it was burnt down, and our insurance had lapsed by 2 months and didn't realise. Owing on the loan is about $27000 and the land is worth about $10000. That is just approximately. We would like to be able to put something on the land that we can rent out. We currently live in a rental in another town and we want to be able to purchase either land to build on later or house and land to live in. We own both car, have no credit cards, and have personal loan of $20000.
Would really like to know if there is a light at the end of the tunnel and there is advise for us on which way to go, and if any lenders would give us a loan.
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- Mortgage Specialist
- Posts: 6
- Joined: Tue Jul 08, 2014 9:40 pm
- Location: Sydney, Australia