Private Finance for Residential build

Viewing 4 posts - 1 through 4 (of 4 total)

Lee
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
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
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 | Australia's leading private lender
Lee
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
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
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 | Australia's leading private lender