Recently purchased house and planned to renovate and build 3 t/houses at rear. Just received unsolicited letter wanting to discuss finance on project. Can anyone advise on finance solutions such as Institutional mezzanine, credit enhancements, private equity placements and creation of residual income streams? Any advice would be appreciated.
Bribie
You could probably get finance based on the valuation of this deal. It usually works as 70% of end value which is usually enough for you to get 100% finance. These are low docs and the rates are around 10% depending on location.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks TerryW. I have been dealing with one of the big 4 and they are insisting on proof of strata titling otherwise they would value the 4 residence on one title therefore much lower valuation than needed. Valued as 4 seperate strata residences not a problem if can satisfy strata title issue.
Have been suggested to seek presale of one or two my help.
bribie
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