Quote Originally Posted by Fred Flintstone View Post
I know a WL who saved up $400k cash and bought an apartment in Sydney for $900k a few years ago. I can’t work out how she qualified for the $500k loan. Banks must have been more lenient then. It’s not as if the brothel owner was giving her payslips or a group certificate. Haha.

Or she might have had a legit part time job to show her income. Anyhow, she’s a WL with her head screwed on right. She plans to give up this line of work when her apartment is fully paid off. She said customers are always giving her investment tips but she’s only focused on paying off her loan.

She told me a customer gave her a Rolex watch as a gift once and she has a cupboard full of perfume, jewelry and expensive champagne gifted to her by smitten customers over the years. She’s been in this business for about 8 years.
If she put down $400k deposit on a $900k apartment, that's equity of almost 45% of the property. That kind of LVR is great, the banks will be more than willing to lend her money. Just need someone who owns a business to help give her a bit of "income" and she'll get the loan easily.