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I’m actually looking at doing some JVs with investors, and thought some positive media articles might make them feel more comfortable. I am having a bit of trouble finding them though.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
I once heard a great saying… Ask forgiveness, not permission. ie. If you ask, someone might say no, if you do it, it’s too late it’s done [biggrin]
Well, I did ask, I’ll throw it out there and see what happens..
I am looking for *********** If you would like to know more, drop me an email on ************
Appologies if i have broken the rules. (yes, you have, no worries… richmond)
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
From my understanding, it is very much up to the councils discresion, which means it will be very hard for anyone here to help you. The good news is, the council will usually tell you if it is likely to pass before you have to spend much money. So i reccommend, you just ask the local town planner at council.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
I think it depends on the council as to whether or not it is on the net. I know Parra council in Sydney, you have to go in to the actuall council and look on a map on the wall!!
Maybe if you had a really good digital camera?…
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Anyway, back to the origional question… May be pointing out the obvious, but if there is no land left on the central coast… look somewhere else?
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
I am interested in the answer to this too. If you do find this out Grifithvoice, could you please post the results.
Otherwise, has anyone else developed townhouses? If so, how big were they, and what did they cost per unit?
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Why don’t you consider keeping your existing property as an investment, and buying the other one also? Failing that, you might want to talk to a broker about “bridging finance”. This is made for exactly what you are talking about.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
The other option is to find a JV (joint venture) partner that has no income and/or bad credit, but has the money. This would allow you to get in sooner, but you would have to share.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
It’s really not a basic maths problem you should know the answer to… it’s more a “Where do i find the calculator that will tell me” question. Bennido suggested a good one, but also, if you are any good at excel, it has functions that will do it for you, so you can set up a fancy spread sheet (I love spread sheets).
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Agree with the other guys to an extent, but even still it isn’t easy to find them in NSW. Question is, why are you restricting yourself to NSW? Aside from anything else, the land tax and exit stamp duty make it pretty unattractive. Try look a little furthur a field.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Hi JenD,
You are starting from a bit of a rough spot, but i guess we all have to start somewhere! First of all your questions…
I know in Australia and New Zealand (and assume it would proberbly be the same everywhere), you must borrow the money from the country in which you are buying. The reason for this is banks don’t like using a security in a diffent currency incase the dollar crashes and there security is left worthless.
As for where you pay tax… it depends where you are a “Resident for tax purposes”. Keep in mind everyone will want a slice of pie.
You are going to find it very difficult to get a loan. What i suggest is you find someone that has no money, but a steady income and team up with them. I know this is sometimes easier said then done, but where there is a will, there is a way.
Hope this helped
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
There is another post very similar to this one floating around at the moment.
I agree with TerryW, buyers agents can often do it cheaper than you, and it is not sight unseen (well, it is by you).
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Excellent post… I rate it highly!
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Personally I would go with the cheaper ones, and here is the reason why…
Look at the recent boom Australia has experienced. A typical $600,000 property would have gone up to $800,000 over X months. Over those same X months, a $400,000 would likely have gone up to $600,000. You often find properties go up by roughly the same value, rather than the same percentage, which means the percentage for the cheaper one is higher.
This does not mean the cheaper property is always the best investment, however all things being equal (which they appear to be), the cheaper one leaves more scope for capital gain.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Another option if you are pressed for time or inclination to travel interstate is to look at a buyers agent. I agree Captain to an extent… you wouldn’t want to buy totally site unseen, but persoally I would be confortable if someone representing me had seen it.
Often if you are buying interstate, or especially overseas, it is cheaper to pay someone else to do it than to do it yourself, after taking everything into account.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
The best way to go about getting a loan is the same as over here… go through a mortgage broker, they do all the work getting you a good deal, and you don’t pay for it.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
It goes to show… it never hurts to ask the question!
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Hey Waz11,
Maybe i read it wrong, but didn’t you just answer your question? You said what is the benifit of low deposit, then went on and said wouldn’t you be better getting 100% loans to get as many properties as possible???
Anyway, you are right. As long as they are positive cash flow, get as many as you can (though some with a lower risk tolerance may argue).
Just another point, if a bank will lend you 100%, you can be fairly certain the are going to hit you with a massive (proberbly 3%) lenders mortgage insurance.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
At the risk of sounding like I am flogging my own product, the smaller towns in New Zealand look set to follow the larger cities (already boomed) in the same way it happened in Australia.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
What is the real question?
If it is “Do you think this is a good investment?”, we don’t have enough info to answer.
If it is “Is it morally right?”, again, no one can answer for you, as you will have different moral value to the next person.
If I were you, I would determine first (before looking at the investment) if I thought it was morally right or not. If not go no furthur. There are enough ways to make good money without having to compromise your morals. If you are fine with it morally, look at it like you would any other business decision.
Hope I helped.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
