airlie beach land bank
- Thread starter grossreal
- Start date
Bankwest & ANZ may look at this one with a 50% LVR.
Or is it 50% of valuation only? (which they're nobody seems keen on these days)
Or is it 50% of valuation only? (which they're nobody seems keen on these days)
Well I'd say it depends if it's 50% of the purchase price or valuation.
You give me the 3.2mil cash, and I'll get you the land (for a small fee).
With an interest payment guarantee of course, ie someone who can pay the interest needs to be guarantor/s.
If the price is less than valuation, then your right
Of course it's a big interest bill if your going to be land banking for a while, and when it comes to this stuff any estimated time term should be at least doubled.
hi Bradsdad
already holding the current debt is 4 mil
current bank will walk at 2.5 mil
passed da has cc
has 13 mil in presales
build cost is 18mil inc land at 2.5
want to land bank so that I can bring in another 5 mil of presales and then go for a normal land and constuct
43 mil end value
Bankwest & ANZ may look at this one with a 50% LVR thank for that one but bankwest is not doing any commercial or construction funding and are reducing there staff from my looking at them and anz cba and westpac are not in that market from my view.
am looking for a second teir or private funding as a few of those are still in the market
Spectre
looking at 2.5mil can and am interested in the a funder to do the construct as well if you have a funder that will fund into the airlie beach area.
there is a couple of projects that current funder are interested in doing a deal and I have two groups that are holding sites and the deal for me is a good deal
if you know who is still in that market up their let me know
already holding the current debt is 4 mil
current bank will walk at 2.5 mil
passed da has cc
has 13 mil in presales
build cost is 18mil inc land at 2.5
want to land bank so that I can bring in another 5 mil of presales and then go for a normal land and constuct
43 mil end value
Bankwest & ANZ may look at this one with a 50% LVR thank for that one but bankwest is not doing any commercial or construction funding and are reducing there staff from my looking at them and anz cba and westpac are not in that market from my view.
am looking for a second teir or private funding as a few of those are still in the market
Spectre
looking at 2.5mil can and am interested in the a funder to do the construct as well if you have a funder that will fund into the airlie beach area.
there is a couple of projects that current funder are interested in doing a deal and I have two groups that are holding sites and the deal for me is a good deal
if you know who is still in that market up their let me know
Interesting numbers there GR.
BW closed it's books a couple mths ago to all new comm & construction biz, except existing customers. ANZ are still in hibernation, and as many other banks counting continously increasing losses in the sector.
GR, I'll call you end of the week, if you haven't found anything by then, for more info if it's ok with you.
And yes, there are still cashed up builders out there.
BW closed it's books a couple mths ago to all new comm & construction biz, except existing customers. ANZ are still in hibernation, and as many other banks counting continously increasing losses in the sector.
GR, I'll call you end of the week, if you haven't found anything by then, for more info if it's ok with you.
And yes, there are still cashed up builders out there.
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