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I might be warming up to this. So your end position will be loan of about $1mil. By my sums you are not putting any additional cash into the deal now (maybe just a little bit). Interest on $1mil is about $55k/pa. Add in a few costs (mgt, rates etc) youre up to total costs of $65k...

Hmm. Valid points. Stumpie. What's your forecast lvr on completion?

Yes, and no. I would be looking at it as the actual current value. Assume you have 1.5mil invested, what is the return on that money? Can you get better returns elsewhere? Even now, assuming your current calculations (property val at $160k) you have a gross return of 10%+. Though in real...

I fixed it for you. I fail to see why you are proceding with this. Your cost is $1.3mil. Profit of +/-$200k. You paid $160k and can potentially sell for up to $500k. A total increase of $340k (or $240k at $400k). Why not sell the block - and go and find a profitable site? The...