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  • Profile photo of LeeLee
    Participant
    @binga76
    Join Date: 2015
    Post Count: 2
    September 10, 2018 - 3:43 pm

    Hi,

    I currently own a house in Engadine NSW.

    I have a DA approval for a second house on the block and Subdivision once build is complete.

    Current Mortgage is 800k
    Total Build cost @500k

    Total value after Subdivision
    Minimum $1.8m

    I plan to sell the existing house after Subdivision, I have no CGT or GST to worry about.

    I am unable to finance the build through traditional means as I can’t service the loan. I am hoping to be able to capitalise the interest during construction.

    Thank you
    Lee

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 11,992
    September 10, 2018 - 9:51 pm

    Hi Lee

    I run a 100M+ Private Lending Fund so might be able to assist you.

    Feel free to drop me an email with your submission and be happy to look at it for you.

    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.

    Profile photo of LeeLee
    Participant
    @binga76
    Join Date: 2015
    Post Count: 2
    September 11, 2018 - 11:21 am

    Hi Richard,

    I am waiting on a fixed price quote from Builder. Will probably be a week or so.

    I don’t have any equity in the block as is. I would be reliant on end valuation of the 2 houses after build was complete. Is this something you could possibly work with.

    Lee

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 11,992
    September 11, 2018 - 9:32 pm

    Hi Lee

    Yes we can work off net GST Gross realisation subject to our own valuation.

    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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