Hi,
I have been developing houses as a full-time occupation for the last 5yrs. I have been using low docs for that period as I had the consideration banks etc have an aversion to property development as a sole source of income. My income is generally one large amount each year - when a development sells.
Does anyone know of any lender who is partial to doing a full doc when BAS's & bank statements show these large single annual payments.
As well as financing the developments, I want to re-finance 3 rental properties as well as this hasn't been done for around 5yrs (to get out more equity for more developments).
Net profit before tax is around 15%. Also, I am not a builder, construction is outsourced. Location is Brisbane.
I'm after normal residential financing on the rental properties & possibly on the house devt's as well but not essential, to keep the interest rates down. Low docs I have are currently around 5.5%.
Thanks for any assistance.
I have been developing houses as a full-time occupation for the last 5yrs. I have been using low docs for that period as I had the consideration banks etc have an aversion to property development as a sole source of income. My income is generally one large amount each year - when a development sells.
Does anyone know of any lender who is partial to doing a full doc when BAS's & bank statements show these large single annual payments.
As well as financing the developments, I want to re-finance 3 rental properties as well as this hasn't been done for around 5yrs (to get out more equity for more developments).
Net profit before tax is around 15%. Also, I am not a builder, construction is outsourced. Location is Brisbane.
I'm after normal residential financing on the rental properties & possibly on the house devt's as well but not essential, to keep the interest rates down. Low docs I have are currently around 5.5%.
Thanks for any assistance.
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