Property Development Top-Up Loans, Explained (EP: 261)

Most developers think that once the loan is approved, the finance side is done. Bob Andersen and Hilary Saxton explain why that is not always true. Toward the end of a project things can shift: the build runs longer, interest eats into the cap, a variation creeps in beyond your contingency, or sales take longer to settle. Sometimes you need a top up. In this episode Bob and Hilary break down why end of project funding happens, why it is more normal than people think and rarely fatal, and how to structure a top up through a loan partner. They open the books on their own North Harbour industrial project, where they were $120,000 dollars short near completion, and cover second mortgages, deeds of priority, residual stock loans, and why an industrial development can be a smart home for self managed super. Free masterclass with Bob and Hilary, Saturday 15 August, register here: https://link.propertymastermind.com.au/propertymastermind-profit-with-property-development-masterclass Learn more about Mentoring: https://www.propertymastermind.com.au/mentoring-clone/ Chat with us directly: https://link.propertymastermind.com.au/book-a-call See omnystudio.com/listener for privacy information.