Forums / Getting Technical / Finance / Funding Required – Money Partner

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  • Profile photo of jempirejempire
    Participant
    @jempire
    Join Date: 2001
    Post Count: 19

    Hi,

    I am currently in the final stages of sub-dividing a vacant parcel of land in Brisbane. I have contacts issued on both proposed lots ($405k ea lot) with settlement due to occur on 13th June 2017. However I have a shortfall of $35k to complete the sub-division.

    I have spoken to a few private lenders regarding bridging finance and the LVR cut off for most is 70%. My deal would have an LVR of 73.5%

    Would anyone be interested in providing the required funds ($35k) to complete the subdivision with a second mortgage as security on the property and 8% interest (per month) payable at settlement?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 11,992

    Jempire, We go to 80% lvr on 2nd RM especially if you have sale contracts in place.

    Would need more information but feel free to email me and we can certainly look at the deal as we are based in Brisbane.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

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