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  • Profile photo of akyboyakyboy
    Participant
    @akyboy
    Join Date: 2003
    Post Count: 9
    November 6, 2003 - 2:26 am

    Sounds like a good idea and I think a separate forum is needed for this.

    Pin, I’m also interested in your proposition that you mentioned in the 0-130 Properties in 3.5 Years forum regarding “Valuable info for Newbies”.

    akyboy

    Profile photo of akyboyakyboy
    Participant
    @akyboy
    Join Date: 2003
    Post Count: 9
    November 5, 2003 - 9:08 am

    quote:

    G’day Ackyboy…

    Anywhere in Aussie…I will sit it out and buy better around 2005, Canberra included.

    Hi Bill,
    I’m a bit confused by this reply. Are you saying that good property deals exist anywhere in Australia or are you saying that you wouldn’t buy anything now and would wait till 2005?

    akyboy

    Profile photo of akyboyakyboy
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    @akyboy
    Join Date: 2003
    Post Count: 9
    November 4, 2003 - 7:34 am

    G’day BillfromOz,

    Thanks for the info.

    My/our strategy is not for quick gain, rather for something that is neutral/positively geared which could reap rewards in the long term.

    Given your information, I think we will steer clear of Canberra.

    And the gold question, where should we be looking? [:I]

    akyboy

    Profile photo of akyboyakyboy
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    @akyboy
    Join Date: 2003
    Post Count: 9
    November 4, 2003 - 7:27 am

    Hi luckone,

    No, I haven’t, but now that you mention it, I will definitely look into to it. Are there any drawbacks from using deposit bonds?

    I believe stamp duty is payable on settlement, which is in 12 months.

    akyboy [:D]

    Profile photo of akyboyakyboy
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    @akyboy
    Join Date: 2003
    Post Count: 9
    November 4, 2003 - 4:35 am

    G’day Westan,

    > what is your goal with this deal ?

    Primarly goal is for captial growth with hopes of “flipping” the property near settlement. However, 3 months before settlement I will have to reassess and see if it will be profitable for me to build on this land – maybe 4/5 townhouse or duplex’s.

    > how much does the land cost you to own.

    The lots are currently priced from 130-250K. I’m looking at some lots which are priced around 150K. I was thinking of purchasing two adjacent lots.

    > are you getting finance what sort interest rates

    We need 6K to exchange contracts. We would definitely need finance, but I haven’t looked into this yet as I’m still investigating this deal.

    Is 5.8% standard variable p.a. a good rate[?]

    Tx,

    akyboy

Viewing 5 posts - 1 through 5 (of 5 total)