I had also negotiated a six month settlement, with the vendor willing to sign any applications made to council during this time to arrange for the DA.
A year ago I also purchased my second development suite with a 12 month settlement. This site is expected to return the same 26% or $210,000 profit as the first. The development is due to commence during 2011. For this project I’m exploring the option of commercial finance to allow for better cash flow, after listening to CCORP’s finance strategies.
Mid way through the construction one of the units had sold for the full asking price and about 1 week before completion the other unit had also sold for the full asking price.
– Steven Borg
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