It’s actually a large bank, so i am not worried they will bust.
What i am concerned about is that the property will go for much more than it’s value due to the C/F being so good. And i don’t have the spare cash to have a large deposit? I really need 100% finance. We do have some equity but not heaps.

Thanks.

I see your point, but there seems to be many pos geared props still around, and the rental demand is strong.Also industry is booming and theres a new large company in town.
Rents are rediculously high tho, but apparently the average b4 tax is 100k. Hmm Curious!

Thanks all, i feel better about this one now.
What sort of lvr would most lenders loan on this sort of thing?

Yes i think i am happy, even though it will be slightly neg geared for at least the first year.
It is only just under 40 m2.
Thanks for the replies though, feedback is good.

c’mon people, i value your opinions

Coopst, i am in the same boat and wondering too.
Surely there is a way to get the builder to cover the cost until completion. I have thought maybee if you offer a bonus to them to do this until completion, say three grand per unit, surely this would be cheaper than interest payable?
Anyone else overcome this situation??

Thanks Derek,
Look I just want to fasttrack my learning in any way possible with property investment, i have no set strategy or format. Whatever it be from developement, to renno, or pos gearing, whatever i want to learn more about it. At the moment I have a block which is intended for units, but I still look for quick cash deals as i have a bit…[Read more]

Thanks g7,
Firstly i know they are able to be cut into 3, but i am concerned about the costs involved in doin this, and then what profit margin that will leave.
Secondly, i am not experienced in doing costings, this also concerns me, where can i learn how to do this properly?

Thanks people for all your advice.

Who could i get to cost up a project like this one? and what sort of cost would be involved?

Cheers[biggrin]

Thanks guys,
I want to use a qualified professional, but where do i look.
As for family recommendations, my family don’t get into the whole property thing so thats out.

What i want is someone totally in tune with property investing. anyone got any recommendations?

Thanks terry, i may contact you when the time comes.
Do you think you could provide this type of finance?

Thanks again everyone for your support, its good to hear.

I’m in the Barossa, but alas am also green around the gill’s.
But check out Pt Pirie HTSA revamp. May have flooded rental market though.[cigar]

Thanks guys for your encouraging words, it’s good to hear something positive.[biggrin]