Hi All,
We have bought a place that has an existing house and enough land for 4 units.
What would be the best way to structure the loan?
We have to live in it for the 6 months to get the FHOG and it is currently tenanted by a good long term tenant. Are there any advantages to having the tenant stay there for a bit after settlement?
What is involved in getting a construction long for a 4 unit development? Do you still need the 20% or so down payment. We would probably keep 2 and sell 2 when they are done.
The existing house would have to be torn down to finish the front units.
Thanks for any suggestions.
We have bought a place that has an existing house and enough land for 4 units.
What would be the best way to structure the loan?
We have to live in it for the 6 months to get the FHOG and it is currently tenanted by a good long term tenant. Are there any advantages to having the tenant stay there for a bit after settlement?
What is involved in getting a construction long for a 4 unit development? Do you still need the 20% or so down payment. We would probably keep 2 and sell 2 when they are done.
The existing house would have to be torn down to finish the front units.
Thanks for any suggestions.