Why don't you do a JV with the current owner that way you save on stamps? You pay the costs to hold & reno costs and spilt the end result via a percentage. For me I believe 10% – 15% to be a low return on investment when others are offering 25%+.Good luck

Cap B wrote:
They mortgage insure all loans. Have high set up fees. Have high exit fees. The rates are not as stable as the banks. They pay high commission. Not sure who what works for. Actually I am sure. The Broker!

<moderator: delete language>. Firstmac have been very competitive in the marketplace for a very very long time. They are QLD…[Read more]

Couple more for you guys.These guys are predominately associated with commercial finance front however i'm sure they would do smaller loans as well.Recently we have had the delight of dealing with a company called Finance Solutions Australia (FSA) through a recommendation. Scott Wyllie is the main front for this organisation whom i am confident he…[Read more]

Matt,Give me a call tomorrow i know of a cracker of a site up there right now for sale and would love to employ the services of a chap like this.Cheers

Good find. I have used BMT on numerous occasions before they are usually spot on!

In this market with the amount of good deals around, if your not achieving around 30% NP its not worth it. To work off 20% or less is really disaster in the making. Things always come up and your margins will always move so you need to have a good amount of buffer in it!Buy right, develop the right product and you will reap the rewards..

Mate tread carefully, property developers are not stupid. Everything is priced on a square meter rate and you need to make sure you are paying the right money for the project and that you can make a minimum of 20% on the back end once all sold off. Too many times have we seen people go in and purchase a project way over the real price and do there…[Read more]

Find a Thai resident and set up a company to purchase in with them. Effectively if you purchase as an investor/non resident you can only purchase crown land i.e. you will only own 49% of the property as the King will control the difference and will be given back after 99 years, aka like a crown lease.

Ummm RP Data is shit… PDS live is so much better, easier to use and updated regularly…

Investorarm, What is the status of your project? Do you have CC? Have you marketed to start selling off the plan? Is it viable to be building right now? When does the DA run out?We have access to funds whom will allow you to borrow the building costs with no presales but you will need the following:Good exit strategyGood builder GMP in placeGood…[Read more]

Boogz great thread, options are great fun … Matt excellent information and advice.Boogz just because your situation may leave you in a position not to do anything currently, find someone whom is in a position to do something (cash'd up friend/family/investor) whom doesnt know these terms or is risk adverse and utilise your experience/knowledge…[Read more]

Hi Kaylon, I'm not too sure what size of project you are looking at doing, but there are a few things to consider. The usual set up is with an entity – a unit trust and company as the trustee for the greatest protection. With any development the lenders will require pre-sales unless you have additional equity to use. Australian banks want blood!…[Read more]

Dreamteam,I don't know your income details, asset protection setup or what your investment strategy is, but if it were me I would look at borrowing up to 80% on both properties and using the equity to better advance yourself – i.e.Total value 1.25 x 80% = 1m1m – 600k (total existing mortgage) = 400kThis leaves approx 400k to either purchase…[Read more]

MrsC,If it is a standard style & measurements of an L Shape kitchen, then you might want to go round to second hand places and auction houses as you can pick up some really good stuff at fraction of the price. Friends of ours were renovating their place and picked up a secondhand kitchen for $600 including some appliances at an auction house in…[Read more]

I love extended settlement periods, it allows you to be more flexible with your portfolio… Never have any problems with market trends/variations if you buy right to start with!

I love extended settlement periods, it allows you to be more flexible with your portfolio… Never have any problems with market trends/variations if you buy right to start with!

That's how most of us started. You have to be very committed every day of the week not just after hours. You might start by doing the research online and find a value add for a developer to take you on board as a 'lacky' so to speak! It is a very competitive market, requires a great deal of patience, knowledge, creativity, stress, cost and above…[Read more]

Best advice get an equity partner (cash man) involved if you have limited funds available. You can borrow up to 75% via a first and second mortgage but it has to be a very strong deal!How big is the subdivision you are doing?Most of the majors will allow you to borrow up to 80% if it is 4 units or less on single title.

Well said barnard888Bruce, living on the sunny coast myself i know your pain with Sunshine Coast Regional Council. Get acquainted and very comfortable with PD Online http://www.sunshinecoast.qld.gov.au/sitePage.cfm?code=pd-online this is a tool you need to know how to use backwards, some of the council staff are really helpful also!You really need…[Read more]

Richard, agreed and also if you have a direct relationship with the bank.Also agree with the 95% LVR having no issues with the deals. They have to be strong servicing deal though before the bank will sign off on them!Cheers,