mrhet

mrhet replied to the topic Build another one out the back… in the forum Creative Investing 11 years, 8 months ago
Hi
Yeah, I looked into doing that, but with the costs you have to still spend to do the development say $20,000 – $30,000 to go through Council town planning, it is a lot of money for you to carry unless it has some value on it as an investment.
Banks don't place any value on it until it is at building contract stage . Then once its' built you…[Read more]
mrhet replied to the topic I want to buy a property and offer a long settlement ??? how??? in the forum Help Needed! 11 years, 8 months ago
Hi
You could go to a bank that you have a good relationship with, and ask for a deposit bond (these are not free and you will have to pay the bank some commission for it), this is considered a deposit.
I have used this in the past, but not sure how banks look at this now during the GFC. However, this is a binding contract with the Bank (unless…[Read more]

@mrhet