The PropertiesThe client recently migrated to Australia from South Africa. She wanted to enter the property market in Perth but had never developed property before and had no understanding of the local real estate market.
We helped the client find a development site in Hamilton Hill zoned for 8 residential units.
The ChallengeThe client being new to Perth had no previous borrowings and therefore no credit history here.
As Orbic has been developing projects in Perth for the past 20 years we have built many strong relationships with local Banks.
We fronted the lending for the client and backed the project so that the Lenders would have comfort in financing the development.
The SolutionWe assisted the client to organise project funding and helped her to obtain pre-sales on 4 of the units prior to completion.
The remaining 4 units would be rented out and retained by the client for investment purposes.
The OutcomeThe client has 4 units rented out and the 4 sales reduced her debt significantly.
She now has a positive credit history and on ongoing income to start her business ventures in Perth.