Hello,
I am looking to buy an existing house on a large block in Moranbah and plan to put a duplex out the back.
This is my first development and I am not sure how financing works for this type of deal.
We plan to keep the existing house and will strata title all 3 on completion. We plan to hold and rent all 3. They will also be purchased in a trust.
Can someone please explain how construction loans work with regard to the end valuation of the properties and the associated LVR's. Also, any challenges/ issues I should be aware of given this finance will involve a trust, development and strata titling?
Many thanks
Amanda