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Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
July 10, 2010 - 3:08 am
hi its simple when you know how through a combination of know how
a) subdivision battle axe block create more titles
b) adding value change garage into rooms add carport
c) add valuve new kitchen nee bathroom etc then revalue increases equity
d) use existing equity to purchase other investment property which multiplies
e) buy a book on how to add value to your home
martin
Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
September 12, 2007 - 10:54 pm
lenk gave great reply have off plan units in sierra grand broadbeach time of settlement july nx year
i feel closer to completion you will make more profit but by the same token cover yourself and have bank funding in place in case your forced to settle
Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
September 9, 2007 - 6:07 pm
hi
they are in queensland basically im loath to set up a loan has it would have to be low doc 80 lvr have set up fees then exit fees within 6 months est 10,000 costs i need short term funding has an alternative
martin
Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
September 9, 2007 - 6:05 pm
Qlds007 wrote:
Martin
Which State are they located in and what is the LVR.
Any reason why you dont want Bank funding would be a lot cheaper.
Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
February 11, 2004 - 10:44 am
Have 14 properties over 4 lenders 85 80 75 % lvr up to 2m leveraged
Liberty fin low doc 85% lvr 9.25% 80% pepper home loans 9.05% bluestone 75% all these are self mortgage insured outside ge to up your leveraging email if i can help further
Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
November 28, 2003 - 1:39 pm
quote:
You could get yields of 12% or more for decent places in Rocky only 6 months ago… are you talking up Rocky cos you’ve just bought there alwayslearning?
r
WISH I COULD HAVE GOT IN AT 12% YEILD RICHMOND I ENJOYED YOUR RECENT STATS ON ROCKIE AND YES I HAVE BOUGHT THEIR MYSELF AND SO HAVE SOME OF MY ASSOCIATES
STILL THERE ARE BARGAINS AROUND IF YOU ARE PREPARED TO LOOK FOR THEM YEPPOON IS 30MINS AWAY GATEWAY TO KEPPLE ISLAND
I HOPE SOMEONELSE HERE GETS A BARGAIN
Alwayslearning
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@alwayslearning
Join Date: 2003
Post Count: 44
November 26, 2003 - 3:55 am
quote:
Hi Alwayslearning,
I can see were you are coming from, but i see many potential investors, investing in QLD because of property housing there is still much more cheaper than, sydney and melbourne prices.
The average house price affordability in sydney is $460k, while many parts of Brisbane are, no were near those figures, i can see many sydney and melbourne investors/siders purchasing and pushing prices near the $460k mark.
So there is still plenty of room for Capital growth and gain.
Cheers
s.i.s
Bang on yes there is plenty of room to move gold coast Labrador southport where i live still going at 350k plus 3 bedroom 600sqm blocks approx
coomera by dreamworld now blocks 180k plus 600sqm blocks
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
November 25, 2003 - 4:57 pm
quote:
G’day…
I think you are deluding yoursef in thinking youll make $10k prior to settlement… it will prove to be more like -$10,000 if my mail is any indication.
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages, Option Writing & Forex. [email protected]
Deluded and happy then….
six months ago i purchased 5 properties in Eagleby gold coast Queensland all on three month contracts 120/122/140/150/175
At settlement time the above properties were est to be worth 140/140/180/200 i enjoy been deluded infact 155000 in 3 months deluded bill .
I dont think that will happen all the time but great to experience
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
November 25, 2003 - 4:56 pm
quote:
G’day…
I think you are deluding yoursef in thinking youll make $10k prior to settlement… it will prove to be more like -$10,000 if my mail is any indication.
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages, Option Writing & Forex. [email protected]
Deluded and happy then….
sim months ago i purchased 5 properties in Eagleby gold coast Queensland all on three month contracts 120/122/140/150/175
At settlement time the above properties were est to be worth 140/140/180/200 i enjoy been deluded infact 155000 in 3 months deluded bill .
I dont think that will happen all the time but great to experience
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
November 25, 2003 - 4:53 pm
quote:
G’day…
I think you are deluding yoursef in thinking youll make $10k prior to settlement… it will prove to be more like -$10,000 if my mail is any indication.
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages, Option Writing & Forex. [email protected]
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
November 25, 2003 - 3:35 pm
I haoopve found that the smaller agents are usually more helpful they take a personal interest in you and offer a personal service i highly reccomend Ray hooper and matt lloyd up there
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
November 23, 2003 - 3:16 pm
quote:
There are a few obstacles however Alwayslearning.
Firstly in order to borrow a total of say $ 4 M one needs an income of probably $ 400 K or even more (including rents).
One cannot hide from the latest lender that one has some $ 3 M or so in loans from other lenders as a Low Doc loan means that one normally would be required to provide a statement of assets and liabilities.
This statement would therefore show these loans and your commitments to pay the interest.
If one omits these details the information could nevertheless still be picked up from other sources !!
Also, do you think you can state you have an income of say $ 400 K p.a. with a straight face ?
[]
Furthermore some lenders have a rule which doesn’t allow you to have (for example) more than a total of $ 3 M in total loans (both theirs as well loans from other lenders).
Secondly, there will not be too many lenders in this country (I don’t know even of one such lender) who would be prepared to lend 80% on a
$ 1M property.
The moment your loan exceeds (depending on the lender say $ 700 K the LVR dives from 80% to a much lower one (like perhaps as little as 50% !!
So you would therefore need larger deposits than you envisage at this moment.
Thirdly, what would happen if one (or, heaven forbid, two) of the properties isn’t tenanted ? You would have to find the shortfall out of your own pocket !!
Fourthly, you may not be able to sleep with such kind of money owing []
Pisces133
appreciate your input Adelaide bank will lend up to 1m low doc at 76% i have such a loan
Also other low doc lenders are lending on top of this the limit i havent determined yet i will take on board some lenders will only go to 3m
Surely if one drops off property and realises say 300k in capital growth that is classed as income as well as rental income justifying a stat dec?
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
November 23, 2003 - 1:01 pm
quote:
Hi everybody!
It’s very tempting for me to consider the following proposition which I may be in a position to do: Find a property that needs a facelift. Try to get 60 day settlement or more. Organize my renovation quickly and sell. In other words, a “renovation and flip” but you actually sell before settlement so you don’t appear as a buyer. New buyer’s solicitors exchange papers with the solicitors of the original owner, you collect your cut and Sayonara, everybody is happy, specially you since the tax-man hasn’t taken 43% of your profit.
Am I dreaming? Is this legal? And if so, has anybody out there done this or something similar?
How do such earnings get declared? If not illegal, any suggestions for a good solicitor in Melbourne Victoria that may facilitate the above?
Please reply. Thanks!
Spoke to a solicitor recently about this and not to pour cold water on this double stamp duty applies in this and dont forget if you dont find a buyer your stuck bear in mind new purchaser must settle on same day as you called comtemparainious settlement
also you are at risk if sale doesnt go through as the vendor has the right to keep all costs you incourred in renovations
Risky srategy though objective well thought out in my opinion
I got caught out myself in a simalar venture and lost thousands in renovation costs as the vendor turned as extentions for settlement was required
suggest purchase renovate hold one year then sell on benefiting from 50% cgt discount
regards
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
November 23, 2003 - 12:40 pm
quote:
Richmond
Rockhamptom – Brief overview
It is a City of some 60,000 people. It is the major city of it’s region. It is on the tropic of Capricornia, and about 30 mins inland from the the Capricornia coast Rockhampton has an airport which is serviced by Qantas and Virgin , with several flights a day.
Capital growth last ten years 1.75% pa
Projected growth next 5 years 8-10%
Current medium rent $145
Current medium rental yield 7.01%
Current medium value $108000
Source – residex- last quarter
I also have data on all sales in postcode 4701 for the last year
Nature of Occupancy
Own – 38.3%
Purchasing – 23.6%
Rented from government 4.6%
Rent privately 27%
Other – 6.7%
Population – Rockhampton ( projected)
2001- 59301
2006 – 59314
2011 – 59349
2016 – 59390
2021 – 59451
Medium income $31000
Rockhampton population peaked in 1991 at 60627
Rockhampton region is projected to growth from 98 565 in 2001 to 120 704 in 2021
Current vacancy rate according to hardcourts 4%
Lj Hooker – more demand for homes , then units, vacancy rate around 2-3%
89.7% of dwellings in rockhampton are houses
Flood prone suburbs depot hill / lakes creek
Industry
Rockhampton region ( central queensland )
– heart of QLD mining
– beef production
– cotton
– agricultural production
– tourism
Rockhampton is the major service centre for central qld, with most government headquarters located in rockhampton
Major plant construction in Gladestone to the value of 1billion dollars. Some agents have informed me that Gladestone does not have the capacity to house the 6000 workers and many will travel from Rockhampton each day
Coles supermarket development in Gracemere ( unconfirmed ) which is 10 km from Rockhampton.
This is just some of the research I have done, if I were to type up all the information I had it would take me a couple of hours
Thanks
Matt
Appreciated your stats on Rockie having bought 11 properties over last 4 weeks any more info would be gratefully appreciated
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
November 23, 2003 - 12:18 pm
quote:
Hi Always Learning,
I was not knowing about this and it’s good to know about this.
Thanks for info!
[]
PropertyGuRu
Property guru
I originally thought capital gains kicked in after one year one day until a solicitor advised otherwise this would mean the longer the contract prior to settlement the time reduces to onsell to gain the capital gains discount
Alwayslearning
Participant
@alwayslearning
Join Date: 2003
Post Count: 44
November 23, 2003 - 12:15 pm
quote:
Hi Always Learning,
I was not knowing about this and it’s good to know about this.
Thanks for info!
[]
PropertyGuRu