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Hahaha ok I thought gee he is moving on pretty quick. I have said it before but it very unlikely to make a deal work on duplex construction in Sydney unless its high end stuff (paddington, clovelly, etc). Have you done the high level numbers? Do you want to put it up? A lot of people...

I think this is quite common in WA but staged developments like this is very unlikely in Sydney metro councils. They like you to build everything and then DA for subdivision. Exceptions would be subdividing a land into 2 lots.

You are bang on here imo. I think you will need a lot of cash for this project and then some to cater for unexpected issues. How is your current project going?

I know RAMS will do 80% because I have done a few at 80% but wasn't aware they did 90%. St George will not do 90% on a triplex. NAB is the only one that will do a triplex at 90% but the problem is that they only do 80% for foreign income.

Why are you going with RAMS over the other lenders (not that RAMS are bad but wouldn't be my first choice)? Not sure if this may apply to you but RAMS will take foreign PAYG income but not foreign rental income. Also RAMS will do 80% not 70% so not sure of the context of the conversation.

CBA is not going to do construction of triplex as part of their standard policy. You would need to request a hell of a policy exception for them to consider. You may have done the loan a while back or requested a policy exception.

There a couple of lenders (NAB, St George, RAMS, etc - my personal preference is St George for this space but NAB is also good depending on servicing) that will do the triplex but at the end of the day the valuation is going to be the decider in where you go. My recommendation would be to...