Hi all, ive recently seen a mortgage broker about buying a property to develop into a dual occupancy, it was very informative seeing her. I found this place researching 95%+2%MI loans, which is the path ill have to take to get myself into a property, this will be as an PPOR not as an investment, i need to research that a bit more as it doesn't add up when the time comes to borrow to build at the rear of the property. Im a registered Builder in Victoria DB-M, i had a go at running a small building company but it wasn't viable, i have done some dual occupancies with my old man, all was going well until 2008 and its just now that ive saved up a few dollars to start developing again. My father handled the money side of the things so i have little knowledge about finance, that's why im here. Any help in sending me in the right direction would be much appreciated Thanks in advance for any info Nathan
Welcome to PC @NathanBoxa Sounds like you may be onto a winner there with the dual occ as the extra rent will help to pay the mortgage and/or store it in an offset for future deals.
