Hi ramki what street? Good suburb some streets better than others.

Hi ramki

What is the return? I think if it works as an investment and you get the lmr potential how an you go wrong?

Thanks Alex.  Does Adrian have an email? What is his company name?

Oh yeah, also, is there any chance of capitalisation of the interest?  Or is that a pipedream? Thanks for your time.Ben

or anyone had experience doing it themselves?

Thanks for your comments guys.  Very helpful.I had been using $1,500.00 a metre – but thought I should I use $2,000.00 of the units, as I understand that units are generally more expensive.In the market I am looking at there is a lot of competition.  Most people are building the smallish 2 bedders, with high density.  This is fine as it is a pr…[Read more]

Thanks ChristianB – can conventional units be also delviered for around $1500 sqm (two level walk up).  The top storey does not have to be fire rated. Thanks for your time.

Hi All – just an update – my broker hit up the CBA for a further reduction and they have given us 0.95% off the standard variable, which takes us to 6.61%, which seems good.  This is 0.25% reduction from where we were and with the RBA cut we are now 0.50% down from where we were last Monday.

thanks Luke – the engineers seems to think OK – so not too bad.Just a bit worrying when you get these things

6 – 2 bedders – on market in 6 months – off the plan would be helpful – $350plus.

sorry – should clarify that Zillmere is in Brisbane for those not from around here.

Thanks for your comments Richard – and everyone else too.  I guess my position was that I really didn't have the equity in my PPOR (that I wanted to touch anyway) to allow me to take out the second loan on it – though I see what you are saying now in relation to thinking a little creatively.  I am sort of pretty entrenched with my current broker f…[Read more]

thanks Richard – the only problem being that I do not have a lot of equity available in the PPOR.  The redraw takes the PPOR loan up to 80%.  So to borrow more against the PPOR I would have had to pay LMI wouldn't I?

i am not sure I understand the cross thing.  The issue was that I had $100K available by way of redraw in the PPOR.  I didn't want to put up any cash for the IP, so I borrowed 100% plus costs.  To borrow 100% plus costs on a stand alone basis I would have had to pay LMI.  By providing my PPOR as security for borrowing for the IP I was able to av…[Read more]

Hi Everyone – thanks for your comments.In regard to the cross collaterisation, that was done with my blessing – I didn't want to pay LMI for the purchase of the IP and didn't want to lose access to the equity I had available in the PPOR through the redraw.The 7.11% rate is on a the PPOR which was obtaining in March 2010.  So I guess that was the…[Read more]

hey swampy – thanks for the reply.  So why don't they just make them two titles? Surely a developer would make more selling two apartments rather than one apartment with dual key? Plus wouldn't the tenant rather not have a common hallway – just have their own apartment?

does the 80% of cost include land – because at the moment i have borrowed around 105% and am looking at another $450k for the build.  So around a million all up – does that mean that they will only lend me $800K? Even though it would be worth $1.3++ after construction.  This seems rough.

hey everyone thanks for your comments.Allistair I will keep an eye on the line fee – tks for the clarification re GST.   I had been advised differnt things by different people as to whether the 70% is the end product plus GST or not.   Just to clarify you say that the CBA will only lend the lower of 80% of costs or 70% of end value – which eve…[Read more]

hey dbloomi am also going to be looking for a builder in a couple of months to take on a couple of townhouses in zillmere.Can you us know if you have any luck getting a builder and tips you might have on who to choose and/or how to choose?be good to hear from someone who has gone through the process locally.cheersben