Guys,
I am currently looking into doing a JV with a builder/Developer in a block of 6 Home office/ Residential units. Can anyone help with advice on clauses etc to put into the contract between ourselves?
& Between mtself & the current owner to delay settlement until all DA’s & we are ready to build?
And what some options might be in finacing the deal?
Keggles,
If you are in Brisbane I know a good lawyer who can help you with this style of contract – I plan to use him myself later this month.
If you’re interested drop me a line on [email protected].
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MelAs far as finance there are lots of options available but I suspect these might narrow down once we have more detail.
The deal will most likely be commercial. Do you plan on holding or selling?
If you hold then you will need to consider that some lenders want P+I over 10 years. I do have some lenders who will do IO indefinately on 100% LVR – but of course the interest is higher..
You will need an LVR of 70% with many banks.
Lastly an option may be mezzanine funding which may be the most flexible of all and perhaps the most expensive – although often attractive to larger scale developments.
Cheers
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985
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