To up date you on what I am doing: The shed I talked about at RP2 is three weeks away from being renovated and ready for tenants.
I am up there 5 days per week project managing the process for the last five weeks. Every thing is going well.The building is 1200m2 and in the final break down I will end up with 6 units ranging from 114m2 up to 380m2. The leasing interest is strong and we have decided to wait until walls are up (second to last item on the build list) before showing the Tenants the spaces.
The second DA goes into council for a second building (350m2)on the site (3950m2) in a week. With this next DA approved we will be looking at a $1.2m – $1.4m re-aluation on the project. I don’t know if you remember? But I got a 6 month delayed settlement ($100K deposit balance of $375K in 6 months) on the deal which will be settling in May 07. The NAB has approved a “Asset Lend” loan on the building. They said that they will lend without the building being fully leased. They also said because I am going sell the building they will accept profit from the sale as income as well as the rental income. This takes the pressure of the leasing end and also means I can chase the best tenants rather then the accepting the first ones the walk in the door.The current problem is I need to find $30K and will need it until above property settlement in May 07. If you know of anyone that would be keen to help out I would be very grateful. My main money partner is tied up, so I am willing to pay “Half of One Percent Per Week” on $30K for a fixed term of between 8-12 weeks. Or 18% pa for 6 months and over if that is better. Cheers, Mark Coburn 0405 243 547
“Ut sementem feeceris”
“You reap what you sow”Modernity Investing
Email MeGood on you, Mark.
So you are offering 26% pa return on a fixed term investment of 8-12 weeks or 18% pa return on investment over 6 months. Correct?
Are you offering any security?“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Sanjuv My question exactly.
With no security you have no chance and even with security most companies would want between 4-8% per month depending on the LVR.
I do a lot of secured loans from ym SMSF and would that sort of return.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.Richard Taylor | Australia's leading private lender
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