amateur property investment

[just do it]

Hi All,
Thought I would share an actual deal I am working on and ask if anyone else had done anything similar to see if there are any better alternatives to the way I have this structured.
I have bought 10 blocks of land and just got the approval through council to do dual occupancies on them (a range of 2 and 3 bedroom attached and detached villas) The blocks are around 700 sq mtr and allow 2 dwellings each.
The cost of the blocks is around 100k each and to build is going to cost around 135k per villa with an end value of around 250k each villa so gross profit before interest is around 120k per block, nett after interest costs etc will be around 90k per block.
The financing is the interesting one. One guy tells me he can do up to 80% of end value (BTW the land loan was low doc 80% LVR). Another loan guy tells me this dosent happen. Does anyone know of a gross realisation loan that does up to 80% of end value for this type of loan?
Thanks Glenn

 

[GIDDO]

I feel a wave of fear passing over me as I read this, but I am pretty conservative.
Afterall I know little about your own situation.
Where are the blocks?

 

[just do it]

Appreciate your concern Giddo but from a sales and rental point of view I have done a lot of research and am totally satisfied that my numbers are correct and 90k per block is conservative. The area has a very low vacancy rate so short term they will be rented out. My only area that I am trying to gain more knowledge/understanding is the financing side of this. Even if the gross realisation of 80% is not possible this is still a very good deal but if the GR works that would be better.