Forum Replies Created
Lighting is under rated. Lots and lots of lights, especially down lights. Everyone loves a bright home.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Not sure about Turkey, but usually if you can’t find a tennant, you are proberbly asking too much rent.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Just a handy tip re taxes. Any state taxes can be found at http://www.osr.nsw.gov.au as in Office of State Revenue, and any federal taxes can be found at http://www.ato.gov.au (Australian Tax Office). Both are pretty easy to navigate.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
With regards to what? It sounds like a state thing to me, at a guess something to do with working out tax? Little more info.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
My advise in having a career in real estate, is to be an investor in it, and not an agent. Easier said than done though.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Even if it were illegal to BS about the condition of the vendor, how could you possibly police it? Someone would come in and say “You didn’t really have to sell it today”, and they would turn around and say “yes i did”, who would argue.
I know I didn’t say that clear, but did you get the point?
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Licensing what? I am not suggesting anyone acts as an agent. No one would be taking a fee, or claiming expertise in anything, people would it could just be a good forum for perspective business partners to meet. You’re allowed to stick an ad in the paper, why not a post on the internet?
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Hi,
Don’t listen to a word any real estate agent says ever! Just kidding… well mostly. The real point is, don’t let anyone tell you something can’t be done, try it and find out for yourself. It is true alot of vendors will say no, but alot will say yes too.
The house I am currently living in, I have bought with a 7 month settlement (haven’t settled yet). I am in the central coast of NSW, and like most of Australia, the market here is a buyers market. Sure I got 4 nos before I got a yes, but when everything around you is sitting on the market for 7 months anyway, and you can get a deposit and a sure sale, alot of vendors will go for it, where ever you are.
At the end of the day, it cost nothing to ask. Some will say yes and some will say no. What is the advantage to them? None aside from the fact that it may be the only offer they have had in such a depressed market.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Hi All,
Thanks lots to Quiggles and Weston for the valuable info. Especially Quiggles SS posts, they were great!!
Couple more questions… Weston, have you been able to get any higher LVR that 80%? I know in the US there seems to be a million hidden costs, realistically, what cash on cash can you expect at the end of the day? And last of all, is anyone going over, doing all the hard work, and charging a service fee? I know a few people (Including Weston?) were doing it in NZ, does anyone know anyone that is doing it in the US (Weston?)
Cheers.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Hey,
All the guys have told you to do your homework first, and I fully agree. Don’t rush, as they say, the deal of a lifetime comes up about once a week. You will be amazed once you start looking for them, how unspecial this deal you are looking at will turn out to be.
In the mean time, here is a good start to your homework. Note the dollars I have given are very rough, and will depend largly on location and project.
Diconnect utilities $1,000
Strata Fees $1,200
Council Contribution (Section 94) $10,000 per unit
Council App Fees $1,000
Building Levi $2,974
Land $???
Loan Stamp Duty $1,000
Building $1475 per m2
Land Interest $?? (on loan)
Building Interest $?? (on loan)
Surveyors fees $4,000
Strata consultants $1,500
Demolition $10,000
Landscaping $9,000
Reticulation $2,000
Communal services $9,000
Loan app fees $1,000
Artist Impressions $400 (to sell off plans)
Architect $20,000
Land Tax $1,200
Accounting & Legal $2,000
Closing Costs Purch $5% land value
Closing Costs Sell $1000 per unit
Agents Fees 2.5% of end value
GST 10% of end value – GST Paid
Quantity Surveyor $6,000Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
An option gives you the option but not the obligation tto buy the property, so you don’t have to write in any “subject to” clauses, such as the subject to zoning clause. If you are trying to get out of the option fee all together if the property does not get rezoned, this will not happen, because the vendor has nothing to gain from it.
As for a fair option fee, this depends on 3 things. 1) The value of the thing you are buying, 2) The price you are willing to pay, and 3) How long you want the option for. If you were willing to pay above market value for example, the vendor would proberbly take a very low option fee for a fair time… etc.
There is not really a formula to work out an answer, you just need to put in an offer close to something you think he would accept, and negotiate from there.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Sorry, I don’t know anything about the group, but could you please post details of the course… Where When How much etc.
Cheers,
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Hi HP,
Do you mind telling me a rough price per m2? Would be very interested.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Byronent took the words right out of my mouth when he said how long is a piece of string. If you are talking waterfront Sydney harbour, many millions, if you are talking waterfront somewhere on the coast of WA, I would suspect a couple of dollars (just jokes, but you get the point).
One thing to note however, is that the building prices do not vary just because it is on the water. Although this is assuming the surface is the same. Many seaside properties are on cliff faces.
You need to provide lots more info.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Hey,
Do whatever makes you money. If you are successfull at renos (proberbly helps if you enjoy it), spend your time at that. If you are not making money, or get bored, branch out.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Sorry, just realised how unclear my question was. I meant a QS to prepare costing to get the construction loan (ie. the townhouses would not be built).
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Cheers Ausprop, you have been really helpfull. In another post I did, I asked for ball park figures regarding the cost per unit. The answer I got (and i understand it is rough) was $10,000 per square. How many of the above items would have already been built into this estimate do you think? (Or anyone else that might know the answer).
Thanks,
Dan.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Cheers Ausprop, Sorry to be a pain, but is there any chance you can tell me what these mean, and give me a rough estimate of cost based on 10 units.
Much Appriciated,
Dan.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
A little off the topic, but how much is a square in terms of square meters? Is it 1 square = 10m2?
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Good question, what about a 95% LVR with no genuine savings?
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
