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Not really. I have other IPs which are working well (cash flow +ve), that I am planning to keep long term as a buy and hold strategy. One of the main drivers for doing a development rather than purchasing more buy and hold properties, is that I would like a relatively quick turn around to pay...

Yup, 30% would be nice :cool: My 20% projected profit is excluding CG and assumes all of my 5% contingency is spent. This 5% may be a little low, but I am comfortable that I have got most of my costs nailed at this point. I think the only way I'm going to get close to 30% is if the market...

Why do you say that? Admittedly I am completely new to this, but when I say that I need to fund 80% of the cost of my project, I am not saying that the construction will cost 80% of the final value. I am saying that I want to fund ALL of my costs, which I have calculated to be 80% of the final...

If only construction was underway :( I now have subdivision planning approval and construction planning approval. Demolition is underway so that I can get the new lots pegged and finalise the subdivision paperwork ready for submission to the DAC. Ironically, it isn't the subdivision...

Well, they have told me they will. I have been dealing with the same "Relationship Manager" (where do they come up with these names) for a number of years and have always found her information to be reliable, so I have not reason to believe they wont. Having said that, I haven't formally applied...

Damn, your reply prompted me to phone to my bank for clarification and you are (at least partially) correct. As background, my bank has confirmed that I can finance this project as a residential project even though I am building 6 residences (this is because they are on two titles, giving...

Are you sure this is correct? Admittedly I am new to this, but the information I have received is that you need to have the titles issued before you can sell the properties, but that you can start building as soon as you have planning and building approval from the council (i.e. without...