Thanks to everyone who have eplied and given me some valuable information. I will work out some numbers and take it from there. I have actually spoken to my accountant and he seems really interested too so I might speak to him a little further first (seeing as he is here and has the funds readily available). I really am just wanting some start up…[Read more]

Does onselling the land before it settles also raise the issue of 50% capital gains tax as it was sold before 12 months expired or is that only for houses? Does it attract stamp duty, etc?

Hi Grossrealisation,

Thanks for your comments. My frst post wasn’t really to sell the idea otherwise I would have worded it better. It was more to find out details as to how to proceed looking for an investor and what things I would need to know. (But I guess I should have worded it better anyway.) Sorry for that! Sometimes am too honest for my…[Read more]

Hi,
I actually thought you would multiply the monthly rent x 12 (this gives you yearly rent) then divide it by 52 to gve you the true weely rent. This is how the real estate people and banks do it. But please correct me if I’m wrong.

Regards. [blush2]

Hello,

I am no developer although am starting to go through this. I can help on a few points –
– I calculate stamp duty at 4.4% – this gives you near enough to exactly what it will be. Although I generally use 5% as a giude and htis gives me a little extra to play with – so stamp duty on 330k is $14.5k.
– The block if in feet is converted by ft…[Read more]

Don’t forget too that the bank will be paying in progressive payments upon each stage of development so you will not be hit for the entire lump sum all at once. Also the bank will lend based on the valuation of the end product (based on seeing the plans) so if they are worth $300 ea say to sell when finished they will loan up to 95% (depending on…[Read more]

Hi Cata,

On this same topic, would it be worthwhile to get a trust started if it involves only one person? I asked my accountant about this and he said for just one person there wouldn’t be much need as it could still be broken apart and sued seeing as I would be the trustee and/or the only beneficiary so it would look as though I am controlling…[Read more]

Hi Mee Chee,

I agree with Dazzling there. Call a few house removal or salvage companies out of the yellow pages and ask them to have a look at the house and give a quote as to how much they would pay for it to take it away and clear the land for you. You could sell it whole or bit by bit. You could place ads in the trading post for say the…[Read more]

Hi Andrea,

I ahve one for sale if you are interested. Please meail me at [email protected] and we can chat.

Regards Andrea
(Great name by the way [biggrin])

Hi Kiwi,
What a your terms (how long) is the lease for? I am from Melb and don’t know much about Sydney – is it a good area – will it grow in value really well? do you have any pictures you could send through – my email is [email protected]. If I decided to buy it for a buy and hold can you organise to have it rented through a real estate…[Read more]

Hello,

I have recently bought a block of and also with a house ($430k) on it in view of building 3-4 townhouses on it and either selling one or two of them or renting them as cashflow positive. (I have tenants in currently whose lease expires in oct – gives me time to go to council) although is negative cahsflow to me at the moment as their rent…[Read more]