Listen and Subscribe: Spotify | Apple Podcasts | YouTube
Financing property development in 2023 is a hot topic due to the tightening of the banks. The first step in financing property development in 2023 is understanding the basics of retail finance. This is the type of finance used to purchase a home or an investment property. Banks and building societies are the most common sources of retail finance and they usually offer loan to value ratios.
However, financing property development is more complex than retail finance. This is because the process and the lenders vary. Small projects may require different lenders than larger projects. Not all lenders offer the same terms, so it’s important to research lenders and compare their offers before committing to financing a property development.
In this week’s episode, Bob and Hillary discuss how to finance your property development in 2023. They explain that although the fundamentals remain the same, different variables exist and the process for financing small projects is an important topic of discussion. So if you’re ready to invest but still skeptical on the financial side of property development, you won’t want to miss this week’s episode!
_______________________________________________
For more information about our investment opportunity, email: admin@propertymastermind.com.au
_______________________________________________
Episode Highlights:
- How to finance your property development in 2023? [01:48]
- Why 2023? [02:58]
- What’s the average difference between residential and commercial banks? [10:41]
- What happens with a commercial loan? [15:00]
- What is a no doc loan? [20:04]
- How do you get the non bank commercial finance? [23:38]
- What would the average application fee be for a duplex? [27:15]
