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Thanks guys,
Im starting my first development ( Corner block 3 unit site) but i know due to being 23 and having a pretty average income that there will come a point that servicing the loans will be an issue for me.
Ideally id like to do 2-3 developments a year. Im pretty confident in finding the right block and actually making equity on the development. But know that at some point i will hit a wall in regards to not actually being able to make repayments due to my low income. Hence why i asked the question about tips to not be tricked by banks etc.
Would the right mortgage broker be able to structure my investment goals? Or would an accountant be the person to speak to?
Apologies if its a dumb question, I do want to get serious about developing and any advice from people who have gone through it would be much appreciated.
Cheers