EP 155: Using Residential Finance For Property Development

Property development is a lucrative business that can bring in substantial profits for those who are willing to take the risk and put in the work. However, many people often delay their property development opportunities due to misconceptions about financing options.   One of the main reasons why people delay property development opportunities is due to a lack of understanding about financing options. Many individuals believe that commercial finance is the only option for property development and are deterred by the perceived high interest rates associated with it. However residential finance can also be used for property development and can offer competitive interest rates that make it a viable option for financing projects.   In this week’s episode, Hilary and Bob talk about using residential finance for property development. They highlighted the importance of understanding the options available, such as commercial finance, and the potential pitfalls of relying solely on residential finance. Bob emphasized the significance of making informed decisions and taking action towards achieving goals, especially in the realm of property development. They also touched on the impact of interest rates and line fees in commercial loans, stressing the need for proper financial planning and advice. So join us in our latest episode and discover the secrets of using residential finance for property development!  Resources:    To learn more about our Joint Ventures Workshop we have coming up, please click here: https://www.propertymastermind.com.au/joint-ventures-workshop/   Or to speak with us directly, click here: https://www.propertymastermind.com.au/schedule-an-appointment/ Episode Highlights:   Using residential finance for development  [02:27] People's misconceptions about property [04:22] Property development financing insights [10:53]   Switching from investment to development [14:37]   Residential finance pros and cons [16:53] Commercial loan interest capitalization [22:44]  The cost of doing nothing  [25:34] Making decisions in life [27:20] Line fees in commercial finance  [30:54]  See omnystudio.com/listener for privacy information.