Forum Replies Created
quote:
Which Way To Go?
I was wondering if anyone can help me decide where to start.
I have a house on 30 acres just outside of Ballarat, Vic.
I am in the middle of sub-dividing and will eventually sell off 3 x 5 acre blocks with a potential profit of $130,000.
The sub-division will possibly take 12 months from start to finish, but I am so keen to start wrapping here in Ballarat NOW. I don’t know whether to wait until my blocks have sold or start now. I just want to start wrapping asap.
My worry is financial. Will I be able to borrow money to finance my sub-division if I have other properties and my money is tied up in those properties? Any Ideas, Any suggestions???? [?]depends on your income levels but some groups will look at end value of aproject and finance to 75% of end value so you could possibly borrow against your subdivision to fund other projects
ph:0412374487 to discuss
quote:
I have an interesting situation that shall test you allI need a lo doc (a nice one where I don’t need proof of income, and one that will go back to standard variable after a while)
I also need this small loan on a unit under 50sq (45sq)
In my favour, the unit would be positive geared, but I want to live in it. Also, I have about 80% cash.
Can anyone help
Possibly
There are a number of things you would need to look at to start with – firstly if you really have 80% cash you should be able to get a full doc loan just on rental income. Also I have a couple of third party lenders who would look at it at standard bank low – doc rate 6.8 – 7.4
quote:
I have an interesting situation that shall test you allI need a lo doc (a nice one where I don’t need proof of income, and one that will go back to standard variable after a while)
I also need this small loan on a unit under 50sq (45sq)
In my favour, the unit would be positive geared, but I want to live in it. Also, I have about 80% cash.
Can anyone help
