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Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of alastairmurrayalastairmurray
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    @alastairmurray
    Join Date: 2007
    Post Count: 16
    May 12, 2008 - 1:48 am

    Hi Richard,

    I can now contribute a total of $450,000 towards this project, would it be possible to do something now and if yes on what terms?

    Best regards,

    Alastair

    Profile photo of alastairmurrayalastairmurray
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    @alastairmurray
    Join Date: 2007
    Post Count: 16
    May 8, 2008 - 1:17 pm

    Hi Jon,

    The site is in Melbourne and does not have a current da and the land area is just over 1000sq.mtrs., similar two story units are selling between $550,000 – $640,000.

    Hi Richard,

    I can contribute say $100,000 plus the $200,000 on top from my money partners. There wouldn't be any additional security being offered. The only other problem is that I have 2 paid defaults on my cra from 4 years ago  totaling $4,600.

    Looking forward to your replies,

    Regards,

    Alastair

    Profile photo of alastairmurrayalastairmurray
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    @alastairmurray
    Join Date: 2007
    Post Count: 16
    May 4, 2008 - 11:07 am

    Hi Scott,

    I have found a block of land for $760,000 that would be suitable for the construction of 4 townhouses, is it reasonable to assume that I could attract investors for the initial purchase even though it is not da approved and then carry on through to the completion of the development?  Would you be able to suggest the best way forward?

    Best regards,

    Alastair

    Profile photo of alastairmurrayalastairmurray
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    @alastairmurray
    Join Date: 2007
    Post Count: 16
    April 11, 2008 - 12:13 pm

    thank you for the feedback, Ruk, can  you please elaborate on  your checklist  with regards to the purchase of the land ie. regional areas,  new estates, established areas etc. and what type of dwelling you would generally construct?

    Best regards,

    Alastair

    Profile photo of alastairmurrayalastairmurray
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    @alastairmurray
    Join Date: 2007
    Post Count: 16
    February 21, 2008 - 8:05 pm

    Hi Richard,

    I would be looking at obtaining a  2nd. mortgage to 70-80% or higher if possible.

    Regards,

    Alastair

    Profile photo of alastairmurrayalastairmurray
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    @alastairmurray
    Join Date: 2007
    Post Count: 16
    January 12, 2008 - 9:30 am

    Hi Paul& Tracy,

    Thank you for your feedback

    To date I have renovated houses in middle of the road areas  that have 3 bedrooms  and one bathroom and I have managed to fit both a shower and spa into the existing bathroom. I guess the key to this whole renovation for profit thing is all about keeping costs to a minimum. I would be interested to know what cost saving ideas you could share when you do your renos.

    Best regards,

    Alastair

    Profile photo of alastairmurrayalastairmurray
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    @alastairmurray
    Join Date: 2007
    Post Count: 16
    November 23, 2007 - 4:54 am

    Hi Terry,

    How does this funding differ from caveat loans/second mortgages or are they the same thing. Would you possibly be able to list  some accountants that specialize in this field?

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