J
Johnny Westy
Guest
I am currently self employed earning approx €25K per annum.
I recently came into some money and after taxes etc. came out with €250,000.
I wish to buy a site and build 4 appartments on it at a cost of €750,000.
This would mean it would cost me €500,000 as I have €250,000 of my own.
The estimated time involved to buy the site and construct the 4 appartments is 18months.
When the appartments are built I indend to sell one of them for approx. €250,000 leaving me owning 3 of them. I will live in one and rent the other 2.
Will the banks finance the project for me as I will need 500K for 18 months or how can I go about getting the finance...??
I recently came into some money and after taxes etc. came out with €250,000.
I wish to buy a site and build 4 appartments on it at a cost of €750,000.
This would mean it would cost me €500,000 as I have €250,000 of my own.
The estimated time involved to buy the site and construct the 4 appartments is 18months.
When the appartments are built I indend to sell one of them for approx. €250,000 leaving me owning 3 of them. I will live in one and rent the other 2.
Will the banks finance the project for me as I will need 500K for 18 months or how can I go about getting the finance...??