I have my eye on a block of land with the following accurate feaso figures. These figures are based on current market situation.
Land 260k
SD & Legals 10k
Dev Costs 260k
Interest?
Net Sales 730k
Profit 200k minus Interest holding costs
I can knock over the development in 6 - 8 mths including DA period. I have a friend who can finance it but he wants half the profit. He buys the land and I project manage. Obviously I will reap more profit if I can borrow the money but my serviceability makes it impossible through normal channels.
What products are out there at present that may assist me? I know it will mean higher interest rates.
Land 260k
SD & Legals 10k
Dev Costs 260k
Interest?
Net Sales 730k
Profit 200k minus Interest holding costs
I can knock over the development in 6 - 8 mths including DA period. I have a friend who can finance it but he wants half the profit. He buys the land and I project manage. Obviously I will reap more profit if I can borrow the money but my serviceability makes it impossible through normal channels.
What products are out there at present that may assist me? I know it will mean higher interest rates.