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  • Profile photo of BonbeachBonbeach
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    @bonbeach
    Join Date: 2004
    Post Count: 214
    September 19, 2007 - 11:52 pm

    bit of a drive??? haha

    Cheltenham is 15 20km from the CBD???? lol

    classic :P

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    Post Count: 214
    September 18, 2007 - 5:31 am

    I hate RAMS.

    Enough said :)

    Have a nice day.

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    Post Count: 214
    September 18, 2007 - 5:02 am

    Heya, try two places in seaford:

    Big Hen dot com dot au (i think thats the addy) the shop is called Big Hen anyways,

    and

    Builders and Renovators warehouse (both these are in Hartnett Dve Seaford) ive been there and got some good stuff for my renos, and my mate went there and was impressed too….

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    Post Count: 214
    July 19, 2006 - 8:22 am

    I have lived in Melbourne for nearly 2 years now. I grew up in Perth, and then moved to Sydney for a year then here to Melbourne.

    I love Melbourne, so for anyone to badmouth it you will upset me :)

    First thing I learnt about Melbourne was Frankston. Bad area. -or is it? Cominf from Perth, I knew of many worse areas and as for Sydney, you can pay 4 times the price and still feel as unsafe as you might think Frankston is.

    Having looked through the area many times, at properties and what is going on in the area (Frankston North inparticular) I think its a great place to buy.

    Seaford is also a great spot, supposedly has a bad name, but when you drive through the area, talk to the locals and actually see what is happening in the area (developments, renovations etc) then you start to wonder why people say things are bad. Whilst they may have been 5, 10 or 20 years ago they arent now.

    Eastlink, is going to make everything from Chelsea to Mornington double in value in the next 5 years. This road project is the biggest in Australia at the moment and is going to do great things for the area. Having seen the effects of similar projects in WA, coastal properties in Melbourne are about to become quite scarce whereas once they were just a bunch of old run down, undesirable beach shacks.

    Take a look. Whilst I say all of this, I admit I own property in Bonbeach, and have just bought one in Seaford but at least im putting my money where my mouth is.

    Go to WA with 235k (Price of the Seaford Property) and see what you can get over there the same distance from the city (35km) and same distance from the beach (300m). Any Perth coastal agent would laugh at you and ask you if that was just your deposit.

    As for bad areas, things arent always what they seem. Areas change, some peoples opions of areas can take time but that doesnt stop the growth. [kid] [kid] [kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    Post Count: 214
    July 19, 2006 - 7:57 am

    I agree, Eastlink is going to change everything from Chelsea to Mornington.

    I have a property in Bonbeach and have just bought one in Seaford. Both 300m from the beach, both have decent houses on them, both on dual occ size blocks. Bonbeach was bought in 2005 for 255k and Seaford in 2006 for 235k.

    These areas HAVE to increase in value when Eastlink is finished. Bonbeach is already showing signs of picking up according to local agents.

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    Post Count: 214
    September 26, 2005 - 8:24 am

    A friend of mine grabbed one of these, 3 blocks back from the beach around 660m2 and paid $555 000 with settlement expected around Feb 2006.

    My parents have a house in Mindarie 850m2 with 180 degree ocean views, 2 storey (awesome place) they paid $180k for this block in 2000…

    Who knows….

    If I had a spare 550k to chuck into a block I would, but Im too busy buying other properties to worry about where im living :-)

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 22, 2005 - 10:26 am

    Mark Harris from Accounting West in Bunbury. Not sure if he owns properties or not, I guess thats a question for you to ask!

    If you want an accountant that DOES own properties, I use an accountant in Perth, PM me for his details if you want someone outside Bunbury.

    I am in Melbourne, and agree with others that they do not have to be in your home town, I only meet with my accountant twice a year so its no big drama ive found….

    Dev*

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 19, 2005 - 3:13 am

    Thanks guys for that, much better understanding now.

    Dev* [kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 18, 2005 - 9:43 am

    4 properties will value at around 900k plus, but to be safe lets go on 900…(total)

    Intention is to prove figures in 12-36 months time and either change loan products from that lender to another (hence my question about early pmt penalties) or stick with them on a reasonable rate… -preferably the standard variable rate

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 18, 2005 - 9:29 am

    Sorry for the 10,000 questions…

    Would the lender ‘Pioneer’ be one of those that reduces the IR to a standard variable rate after,say, 3 years with full financials?

    If not, are there any significant penalties for early repayment of this sort of product?

    One more… How difficult is it to get a lo-doc approved with a LMI company when you are talking around the 900k – $1 mil mark?

    Dev* [kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 17, 2005 - 10:05 pm

    Might just work if I can go up to $1 mil… nice

    Will keep it in mind, thanks!

    Is there anyone else doing this or is this the best deal for this sort of thing at the moment…?

    If they saw my last 2 years tax returns would that help (maybe slightly lower IR?)

    I have just left me job you see and no longer have the PAYG income. My income will now be (soon) coming from somewhere else…

    Cheers

    Dev*[kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 17, 2005 - 12:50 pm

    I guess I didnt put much thought into what I actually expected it to be, just asking out of interest (so to speak). I am going through one of those mid life crises that you have (at 25 mind you) where I am looking at many possibilities. :)

    Is there a maximum loan amount for this loan? (some lo docs used to be under 500k or under $1 mil)

    Who is the lender and their LMI company? (is there LMI on a lo-doc? I would assume so)

    Dev* [kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 17, 2005 - 12:31 pm

    Sounds exactly what I am looking for, but I am in Victoria! Happy to discuss options though if you guys are looking to move into the Melb area [laugh2]

    Dev* [kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 17, 2005 - 10:31 am

    Richard

    Thanks for your reply. When I say ‘active’ in the business, I mean this person wouldnt have to participate in the day to day activities. This sort of person may have another career and wants to simply ‘invest’ his or her money. This person would be regularly (weekly or monthly) be informed on the progress of the business and have the right to view all financial statements (of course).

    60% I thought, was quite good from what I understand… Is there any lender you know offering more? The franchise is an international operation and they have around 270 locations in OZ…

    Cheers

    Dev* [kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 17, 2005 - 2:38 am

    There is a ‘rule’ of the website that you cannot advertise any opportunities you (or someone else) has available -so I you can just use the forums for information… There is a development section which may help, however.

    Dev* [kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 17, 2005 - 2:22 am

    8.99% hrmmm

    I guess its risky for them… interesting though…

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 17, 2005 - 2:19 am

    With the franchise I am intending on purchasing, I can borrow up to 60% from a Bank (which is what I intend on doing)… Having funds tied up elsewhere at the moment prevents me from getting the other 40% myself, which is the reason for the search for a private investor. Sorry, I should have clarified this in my original post. [laugh2]

    Dev* [kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 16, 2005 - 12:00 pm

    ….and to clarify, the investor would have no part in the day-to-day operation of the business and the contract would state the period of time in which (I) would pay back the initial debt. There is however, a possibility that there MAY be an agreement in place where the investor DOES have a part in the daily operations, in which case one party would have to ‘buy out’ the other party at an agreed time (say 3 years as initially proposed).

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    August 16, 2005 - 11:53 am

    Jacob

    Thanks for your reply.

    Whats in it for the investor? This investor (as a partner in the business) would obviously be taking some of the risk involved with the business and therefore the rewards. Given that the franchise is internationally recognised, and with a solid, detailed and accurate business plan, I would expect that this could be quite attractive to investors who may want a good return on their investment.

    Dev* [kid]

    Profile photo of BonbeachBonbeach
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    @bonbeach
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    Post Count: 214
    August 5, 2005 - 12:34 am

    congratulations mate! [grad]

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