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Hi Rob,
There are Commercial Financial Institutions that will finance commercial property with a deposit of between 15%-25%. However, financials will be required to showing servicing of the loan. There is a couple of finance companies who will consider 25% deposit on a Low-Doc basis.
The deposit can be extracted from equity in other property.
I presume the units are already built. If they are on separate titles there are banks that will still write a residential home loan for 4 units. The way to finance more is to split the various units between a number of banks.
Charlie,
I actually specialise in development finance. Have you experience in development? Or can you appoint a project manager? If so, have you conducted a feasibility study on the project? Are you putting any "hurt money" into the deal? An investor likes to see a developer reaching into his pocket first. If you can answer yes to these questions there is a good chance a profitable project can get off the ground.
Its hard to say, as there are so many aspects….. It may require pre-sales, although I am able to satisfy that need with either investors or a pre-sale product that will satisfy the bank's pre-sales requirement.
I have access to quite a few banks, specialist construction funders and private investors. Don't approach financial planners. You should be able to raise the funds.
Warm Regards,Greg Levett Mortgage ExcellenceP 02 9401 7277F 02 9401 7377M 0412 008277W http://www.MortgageExcellence.com.auE [email protected]
Hello,
There are a couple of mortgage managers who fund "1 day ABN" loans for self employed.
Please contact me direct and we can discuss.
Warm Regards,
Greg Levett
Mortgage Excellence
P 02 9401 7277
F 02 9401 7377
M 0412 008277W
E [email protected]
W http://www.MortgageExcellence.com.au
