Finance for 15 unit block

[la0]

Hi, any advice on finance for 15 one bedroom units? I'm pretty sure they would be on a single title. I just read that this would need to be a commercial loan so I have a lot to learn!

 

[D.T.]

Hi, any advice on finance for 15 one bedroom units? I'm pretty sure they would be on a single title. I just read that this would need to be a commercial loan so I have a lot to learn!

Metro area?

 

[la0]

Regional area...

 

[Peter_Tersteeg]

It's a commercial deal. You're looking at 70% LVR. 80% might be possible but being regional might make it tricky.

 

[la0]

Thanks for the info

 

[Aaron_C]

Definitely commercial but the rates these days are pretty good.

 

[Mick C]

15 units def comm

As aaron mentioned, rates these days for comm are pretty good.

 

[la0]

Thanks everyone. I'll start looking at commercial finance now!

 

[Evachange]

Alternatively if you have sufficient equity in other residential property you could always do cash out and get resi rates.

Have done this for service Stations in the past, but of course you need sufficient equity in other resi property.

Best of luck.

Cheers,

 

[D.T.]

do cash out and get resi rates.

Have done this for service Stations in the past, but of course you need sufficient equity in other resi property.

Is that wise?

 

[Evachange]

I can't say if it's wise or not as I don't know the original posters individual circumstances, my comment is general in nature and is only done so to offer up a suggestion for discussion purposes.

Cheers,