Elkam,

You have a couple of different options here – as I am experienced in international trade.
I do not know what these companies represent.
Nonetheless, you could speak to your bank here in Australia, and they may assist you opening an Onshore Foreign Currency Account. This means you transfer the funds to an account in Australia, with your bank where the account is maintained in Euros. You get paid interest in Euros, the fees are reasonable, and then you wait and see what the forex market does. This does not offset any borrowings you have, but gives you peace of mind in terms of currency risk management.
The whispers around the marketplace is that the AUD will continue to appreciate against the English Poiund and Euro, on the back of growth of resources sector.
You need to weigh up the cost of such appreciation, and make a decision which is financially viable, as your optimum position is to sell your Euros for the smaller number per Australian Dollar to maximise cash flow and profitability benefit.

Good afternoon,

All the major aggregators, FAST, PLAN and AFG all provide their suboriginators with a suite of equipment finance lenders, plus the opportunity to be accredited with each of the major banks for equipment finance. This is your best option…..

Thanks

Wade Greasley
Bluewater Financial Pty Limited
Residential and Commercial Lending Brokers

wrx928,

This is certainly a complex position, but unfortunately one that is not too uncommon. Before you embark on the purchase make sure you have some solid legal advice in your corner from an experienced commercial lawyer, as if it gets ugly and you are implicated then it will get very ugly.
An alternate strategy is to approach the Credit Restructuring department of the lender in question, and formally make an offer for the site. Then it may be seen as an arms length transaction, and you are purchasing the property from the true and rightful vendor being the lender.
For the lender, they do not want to be stuck with a white elephant. They will sell where it is to their advantage to do so. Once you have got your legal advice my course of action, having had exposure to Credit Restructuring with one of the major 4, make an offer subject to due diligence time frame, say 28 days where you can check feasibilty get construction quotes of your own, confirm council’s willingness to reassign the DA, and have your solicitor confirm or reaffirm pre-sales.
Without sound legal advice, sound planning and strong due diligence this project maybe the duck you think it is. DOn’t be one left carrying the duck, do you background work first, and you may if everything adds up pick up a sound project.

The above is to be classed as general advice only. Independent legal and financial advice must be sought and relied upon to the exclusion of the aforementioned general advice in making a decision. The writer accepts no liability for reliance on general advice in decision making.
Thanks

Wade Greasley
Bluewater Financial Pty Limited
Residential and Commercial Lending Brokers
“Finance for Life”
[email protected]

Viral

A solicitor will assist in any subdivision greatly. The key areas of influence they have is in the documentation required for the preparation of a Development Approval to go to council. They can access existed Deposited Plans, as held by the Lands Titles Office to ensure sewerage connection point, advise on any positive and negative covenants, profits d pendres and the like. Additionally they can can prepare the Section 88B (NSW) required to register a plan of subdivision, assist with getting the bank’s consent to the plan of subdivision, if mortgaged and then lodge the DA approved plans to LTO for confirmation and registration.
Most of my clients engaged in property subdivision small or large, would not take a step without the protection of knowing that their interests are covered……..

Wade Greasley
Residential and Commercial Lending Brokers
[email protected]
“Discover the Bluewater Difference”

From what you have told us, it would appear that you are purchasing either a block of land and building, or purchasing a completed warehouse. The main focus for lenders is on the strength of the end lessee, and the terms of the lease. Most lenders with a lease will go to 70%, but if you are willing to pay a bit more (app fees and Int rate) you can go as high as 85% but the deal has to be pretty strong for this particular lender.
If you can share some more information, we can help you further.

Wade Greasley
Bluewater Financial Pty Limited
Residential and Commercial Lending Brokers
[email protected]
‘Discover the Bluewater Difference”

Jcon1,

This sounds like a good opportunity. You have most of the bases covered in terms of your pre project due diligence. I would consider council enquiries to be the first and most important piece. If they wont conisder a Development Application then the project would be delayed through concilliation. Next step is to run the numbers past your accountant to ensure it is viable. Most lenders are looking for at least a 20% return on cost. Some hoever will go lower based on the strength of the transaction.
Many of us in this community are finance brokers experienced in property development funding. so your first stopsure could be your bank manager for funding, but also pick our brains, one of us would be more than willing to assist.
After you have confirmed your position, that council will consider, that it is viable and can be funded, and that local real estate agents beelive they will sell move towardsputting together an offer.
Hope this helps

Wade Greasley
Bluewater Financial Pty Limited
Residential and Commercial Lending Brokers (NSW)
[email protected] or 0414564743
“Discover the Bluewater Difference”[biggrin]

I know of a really good finance broker in Perth. Please make contact via email and I will provide contact details. THis broker will take the time to understand your position and direct you to the best solution.
Thanks

Wade Greasley
Bluewater Financial Pty Limited – 0414564743
[email protected]
Residential and Commercial Lending Brokers
” Experience the Bluewater Financial Difference”

I concur with Richard……..
You must structure the funding to suit your own individual circumstances, and you can bet that your situation is different to everyone else here…..
Interest Only allows you to avail of applicable tax advantages, minimise the loan repayment burden, and allows you to take advantage of growth.
Make sure you talk to an experienced lender / broker when you are ready to purchase. They will discuss your situation, and together you will arrive at a product/structure that is right for you.

Wade Greasley
Bluewater Financial Pty Limited
Mo- 0414 564743
[email protected]
“Discover the Bluewater Difference”[biggrin]

I am with Qlds007, without added personal information and statement of position, it is difficult to assess your position.
Lenders use different repayment calculators to determine your serviceability for lending.
Would advise you seek a further opinon on your eligibility, so you are aware as to what exactly needs to change in regards to your situation for a further propery acquisition to become a reality.

Wade Greasley
Bluewater Financial Pty Limited
Residential and Commercial Lending Brokers
Ph- 0414564743
“Discover the Bluewater Difference”[biggrin]