I have a friend who is wanting to know whether they could purchase there first investment property. It is a 1 bedroom freehold flat/unit bringing in around $175per week in a good location. Rates are about $1200.Asking price is $100,000 .He has $15,000 cash to use as a deposit however has no income as he is a full time university student.
What are the chances of getting a mortgage from a bank? Is there other ways on which he could purchase this property if the bank says No? Thanks in advance
What are the chances of getting a mortgage from a bank? Is there other ways on which he could purchase this property if the bank says No? Thanks in advance
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