Video with Sumit Joshi, RyRo Loan Centre
Buying the premises he runs his business from
- 1:27
- Posted 29 July 2025
- Read the transcript
What this video covers
A business owner had a week to get approval to buy the premises he had leased for seven years, with no recent tax returns and no savings. Sumit used the equity in another property to fund the whole purchase.
Related: Commercial property loans
Transcript
What Sumit says
0:00What would you do if you have to vacate your business premises in 60 days that you have been running business for the last seven years plus? This was a situation with one of my clients last month. He had been running a very successful business on a major highway for seven years plus. He was told by a local real estate agent that that property that he's running the business is coming to the market.
0:23If he wants to buy it, he's got a week to get the approval and he was scared. He was afraid he hadn't done his tax returns. He had no savings and he was not sure how he's gonna get a loan. That's when he reached out to me. We discussed I looked at various possibilities
0:43I saw that he's got a property which has got very little loan on it. I was able to use this property and. Get him a loan of 100%. Including all the costs. It was still a major bank with the cheapest rate available.
1:00He could not believe it within a week. We got the approval within a month. We got the settlement done now. He can focus on running the business from the property that he doesn't lease but he owns happy clients happy. Service very pleased.
1:18Do you have any such scenario? Would you like to buy the property that you're running the business from reach out? Give me a call. Let's see.
Transcribed from the video and lightly corrected. General information only, not advice for your situation. See our disclaimer.
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Sumit · 0:42Welcome to RyRo Loan Centre
Sumit Joshi introduces RyRo Loan Centre in Norwest: home loans, refinancing, business and commercial loans, land and construction loans, from a broker with more than a decade of experience.
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“Sumit is an outstanding mortgage broker. He patiently worked through our application and got us an awesome result when many other brokers wouldn't assist as we are small business owners. Thank you!”
Sumit Joshi JP, Credit Rep 446824. AFG Award Winner 2013 to 2019 and AFG Excellence Awards finalist 2022 to 2026.