Forum Replies Created
Thanks mate.
Yeah he was saying I will have to provide 4 BAS statements then they take 60% value of the average of the 4 or something along those lines?
Bank west not a good option for construction? Are they hard to deal with or just dont like there product?
Hi Tobyn85,
I'm from Adelaide and think it would also be good to get a group of us together , would be good to share ideas and experiences with like minded people! What part of town are you from?
I'm about halfway through my first two house development in Gilles Plains and its going really well, if your keen i could go into more detail about this project with you. I was a bit nervous about the whole thing as well but just did my research found a good deal and went for it and it has worked out extremely well so far!
Anyway if you want email me on [email protected] if you would like to go into this a bit more!
Cam.
I just read my loan contract and it reads "purpose of loan: To help with construction of investment property". Is there anyway that an investment property can eventually become your PPOR?
So your saying by staggering the contracts, as in selling one and keeping the other therefore no profit has been made on the project until the second is sold?
Well done with your purchase, it will be well worth the pants wetting in the end. I have just finished my first sub division in the northern suburbs so not sure what the council will be like that your dealing with but one thing i would recommend is getting a good surveyor. They have made it so easy for me by doing all the dealings with the LTO, councils, SA water and who ever else needs to be involved. It has really paid off for me and i have no doubt it will for you too! Keep up the good work…
Cam
Hi Dave,
Good work buddy, ill definitely be interested in seeing more progress photos and more info regarding how it is all going! What area in Adelaide is this project? I am currently starting my first development in Gilles Plains which is going to be very similar to yours…
Keep up the good work,
Cam
Thanks Steve that helps allot, i was at the Martin Ayles development boot camp with you guys it was very inspiring!
So by setting up a trust will the banks look at me differently or because i am the director will they still take into account that i have my own business and i am high risk?
Cam
