- LeighMember@leighJoin Date: 2003Post Count: 130
Has anyone had experience with banks lending money on improvements done before settlement?
ie: Purchased $200k property, spent $20k on improvements before settlement (with the right access clauses) and have the property financed for 90% of $220k rather than 90% of $200k.
“All the world’s a stage, and you choose the role you want to play on that stage” William ShakespearSteve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763
We did just what you mention here on the basis of telling our financier what we were planning to do and them agreeing before the project commenced.
We received 80% of the purchase price + 80% of our renovation costs.
Remember that success comes from doing things differently.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
Success comes from doing things differently
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