Cam111 replied to the topic Low doc loans? in the forum Finance 13 years, 4 months ago
Thanks mate.
Yeah he was saying I will have to provide 4 BAS statements then they take 60% value of the average of the 4 or something along those lines?
Bank west not a good option for construction? Are they hard to deal with or just dont like there product?
Cam111 replied to the topic Development Opportunities in Adelaide in the forum Value Adding 16 years, 4 months ago
Hi Tobyn85, I'm from Adelaide and think it would also be good to get a group of us together , would be good to share ideas and experiences with like minded people! What part of town are you from?I'm about halfway through my first two house development in Gilles Plains and its going really well, if your keen i could go into more detail about…[Read more]
Cam111 replied to the topic How do i avoid capital gains tax in my property development??? in the forum Help Needed! 16 years, 6 months ago
I just read my loan contract and it reads "purpose of loan: To help with construction of investment property". Is there anyway that an investment property can eventually become your PPOR?
Cam111 replied to the topic How do i avoid capital gains tax in my property development??? in the forum Help Needed! 16 years, 6 months ago
So your saying by staggering the contracts, as in selling one and keeping the other therefore no profit has been made on the project until the second is sold?
Cam111 replied to the topic My first sub-division! in the forum Value Adding 16 years, 9 months ago
Well done with your purchase, it will be well worth the pants wetting in the end. I have just finished my first sub division in the northern suburbs so not sure what the council will be like that your dealing with but one thing i would recommend is getting a good surveyor. They have made it so easy for me by doing all the dealings with the LTO,…[Read more]
Cam111 replied to the topic Building 2 Houses with Photos in the forum General Property 17 years, 1 month ago
Hi Dave,Good work buddy, ill definitely be interested in seeing more progress photos and more info regarding how it is all going! What area in Adelaide is this project? I am currently starting my first development in Gilles Plains which is going to be very similar to yours…Keep up the good work,Cam
Cam111 replied to the topic Finance for a first timer in the forum Finance 17 years, 6 months ago
Thanks Steve that helps allot, i was at the Martin Ayles development boot camp with you guys it was very inspiring!So by setting up a trust will the banks look at me differently or because i am the director will they still take into account that i have my own business and i am high risk?Cam