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emjay68, it's as simple as deciding whether you want to make money or not. The issue is the possibility of losing everything. Spending money is fun and easy, making a profit is hard work.

I think what Westminster is suggesting is that there isn't money in the whole deal to make it worth doing, the bank will realise this and likely not lend the money. Your figures are this (total money spent, not just borrowed) Buy house and land $250k + stamp duty + costs = $270k Demolish +...