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Cheers. I will keep it in mind for the contract then. I need to start a list!

Thanks for the reminder about the independent inspector. I had forgotten about that. Is that something I need to include in the contract, that I will be getting an independent inspector on site to inspect the completion of each stage?

Thanks. This sounds like the most sensible plan.

I'm going off the whole idea of trying to build two without planning it out properly. The only reason why it was worth exploring is because I have the potential to increase the value of my property portfolio by 1.1 to 1.2 million. Of course that is tempting. However, trying to do that without...

You are right. The reason this sounds so ad hoc is because it is. I am diverting from a clearly planned out, financed and costed investment strategy that I have had in place for three years. I am going to have to look at this more closely because it wasn't my plan and I don't think it is going...

Something additional, my original plan was to build one townhouse Perth in 2015, one townhouse Melbourne in 2016, look at a MR build in 2017 and then Perth townhouse 2 in 2018 (or in 2017 if the MR build does not go ahead). I'm going to put that to the builders to I talk to on the weekend and...

That's good point and I know the structure is not going to work for two units. The deal for the first townhouse is 4.63% variable. If I was just building that to set and forget (it's a long term hold), that would be great! The complicating factor is the second townhouse that I was not...

Considering the end value of the townhouses are likely between 1.1 and 1.2 million, I feel I am being a bit blase about the whole thing. I just want to sign up a great builder, get stuck into it and hope for the best :D But I know that is a bad idea, hence my post. I need a reality check even...

I suspected as much. It was very straightforward to build one first, then build the other one. I will talk to some more builders to find out what is possible. Borrower was interstate, bank did a lockup inspection and charged borrower, bank released progress payment, borrower arrived back in...

Thanks Rolf. Just following up on the ING comment, is that because they require full doc for any loan adjustments post settlement, just like a new loan, or are they just difficult?

I would like construct two townhouses next year. Final cost including, survey strata, servicing and mods to a retained dwelling should not exceed $650,000. I can't cover the full cost of the construction with available funds. So I have two options: Option 1 Commence construction, get the...