Forum Replies Created
Thanks Terry. Yes it needs to be a business account cmason.
I have had a chat to Bankwest and submitted the paperwork.
What a great Bank!As long as theirs still one thats doable Im a happy man!
Thanks for the replies guys.So they can use any random reason? Or do they need a reason relating to the information I have given them? This clause could come in handy for future deals…..
Thanks Richard, Ive sent them an application.
Bump.
A bump for a good question K.
Some thing I too have been wondering about, perhaps we will get an answer today……Thanks for that Tammy. I appreciate it.
Scott, regarding intentions, your fairly good with your idea of what I mean. Except I wouldnt invoice her for works, she would pay direct, also the half of the profit at the end is minus my pay during project.
Scott, I fail to see why I must be a builder if I am only renovating and not 'building' an enclosed structure. Sure I will need/have an ABN, however, that is no different to a contractor (subcontractor made it confusing I see…novice talk by me) who you get in to maintain the property. Of course major jobs such as rewiring etc will have to be done through a proffesional. Im talking about doing the main bulk of the work which does not need a proffesional builder/trade certified party.
Scott regarding capital gains that will only be for her half yes?
Tammy. JV Agreements! Interesting, never heard of them before. I thought there maybe something like that which may fit the bill. It looks perhaps like it may be more of a legally binding contract on us both, rather then a renovating/development contract signed by us both.
Regarding the reno and tradies…all good.Anyone else with thought?
Yes the caveat loan has died a grim death in this deal.
Anyone know of any private investors interested in loaning for this sort of deal?My partner doesnt want a loan over the property as he has been bitten in the past when doing 50/50 deals and sees a clear title as the answer to his fears of loss.
Even though (as I explained to him, if worst came to worst and I defaulted, as he has the other name on the title, he would be offered to take over or repay the loan (which he would be able to do), and also the loan amount would be less then half of what my share is so he would actually win from me defaulting. But no…Fear instead. Thats OK though, we all deal with things differently. I just have to find a solution.
The caveat loan after a bit more research interests me. Ive sent you a PM Richard.One option is caveat loans on my existing loans but..mmmmmmm..dodgy at the best of times, 6 months would be needed.
My partner wants a clear title on these units so loans out of the question.Credit cards a no go as I havent got a job..will try for an over the phone increase on one.
Any ideas people?
Some medium/high interest no security loan from private lender available…..Local surveyors are usually in the know as well.
Firstly, I must say I havent relocated a second hand kitchen..however Ive been on the prowl (low budget) for info and kitchens and have a few ideas for you.
Firslty get an idea of what you want idealy in your kitchen.
Then have a look on Ebay and trading post online for whats on the market.
Look for a good 3 weeks if you have a certain design in mind…all sorts of random kitchens come on the market. Ask them questions regarding measurements, dimensions, quality etc.
Size wise, in regard to U shape kitchens, you are likely going to have to modify the kitchen you buy. This isnt to hard if you have played with wood before and a new bench top could be sourced for around $500 installed. Melamine is easy to cut and screw. Plus your doors and edging can hide minor mistakes.
A reasonable kitchen can be sourced from $1000 to $1500. Just figure in new bench top if needed and screws and you should be right……oh…also the kick panel is sometimes in need of replacement…(cheap).Buy Steves book $1000000 in property in one year.
Got me motivated and looking and finding deals.“Ya cant trust a pig with watermelon ya know!”
Thanks for the link Amanda.
I understand where your coming from and I thankyou and the (hopefully) future others who may/can assist me in my ventures. However, like you say “many of us here on this forum, live and breath property, and donate our time and resources to help others. We are not here to steal your deal, but to offer assistance, free of charge,” many of us is the key phrase here. The area I am looking at is too small to mention as it would only take 1 or 2 larger investors to buy my chance out. Which I dont really want to happen.
Im sure most people on this forum are trustworthy however being a forum it is open to all and sundry including the not so nice people which rather then use their brain, pinch other peoples ideas…..
No its not in SEQLD, Im not that established to be able to afford their yet; a pity as contacts would be good; however, Ive been on the phone to the Shire CEO and Surveyors who have both assisted me no end. An application for preapproval is going in tomorrow so we shall have to see what hapens from there…….“Ya cant trust a pig with watermelon ya know!”
Thanks again. i have spoken to one surveyour last week and he had a couple of good ideas/reasons for the plan.
Im going to speak to the surveyours again and the townee to question and answer a bit more. You were right in speaking again to them in your first response. i thought I would get some backup before i question however ive realised I was starting to come from the ‘their the enemy’ postion rather then ‘they can assist me and me them’ approach.
Im afraid Im keeping the position close to my chest at this stage.
It is classed residential if i remember correctly.“Ya cant trust a pig with watermelon ya know!”
Thanks Amanda.
Ive spoken to the town planner and they are receptive to my ideas as they want the town to expand however no new blocks are in the forseeable future, thus they are willing to listen to me….however i need a good argument to make sure it happen rather then a halfarsed attempt..
My blocks would be 25m wide which is more then adequate to build a house on and have ample room around for aesthetic, adequate space to utilise and lifestyle reasons.
No road works are needed as im using the current road frontage with access to sewer and water and power.
can anyone else answer my questions please?MMMMm…sorry about that I clicked on a smiley and posted and all the writing is gone!!!! Mmmmmmmmmmmmmm
what i was asking is:
Im looking at an area that has good potential to subdivide 200m x 100m(road frontage) block into 4 25m x 200m blocks. The council is receptive to the idea however they normally have a 5:1 block depth ration and this will be a 8:1 depth ration, thus I need a good argument to back me up…just wondering if you people have any thoughts to assist me in this venture?
Also why most councils opt for a 4:1/5:1 depth ratio and the benefits of a 25mx 200m block?
