CBA or Adelaide bank will do this type of security!

<moderator: delete language>. Firstmac have been very competitive in the marketplace for a very very long time. They are QLD based, very well set up, well backed and have previously offered some ridiculously low rates through the GFC like 2.99% fixed for 12 months. There set up fees are pretty standard with the banks once you put all the add-ons into the equation, sure there exit fees are higher over the first 4 years but this is to mitigate client turnover so they can borrow their money at a better rate…

I would love to see where the broker benefits from this as its certainly not reflected in their commissions.

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

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..

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.

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 strategy
• Good builder 
• GMP in place
• Good project managers

You must understand most aussie banks will now require 110% presales of the full debt coverage and are only lending to experienced developers.

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! They will only currently lend 50% on land and 80% on construction costs and required enough pre-sales in place to cover the total debt inclusive of interest. This makes it very difficult for developers to go forward. However there is light! Overseas and local private funders we use allow greater flexibility for developments lending up to 70% on the land and 100% construction with only 50% pre sales.

Within regards to tax this is a tricky one. All developers look at the best structures to reduce tax via their accountant. For instance sake, we take units instead of profit as we only have to pay stamp duty on the transfers (from company to personal trusts) rather than GST, capital gains, company/trust tax and personal tax. You also need to discuss if it is worth while going on the margin tax scheme etc depending on size of the project.

*If your happy to travel to the south west of Sydney, i can highly recommend my accountant Peter Hawketts of Hawketts Accounting on 02 4677 0361. Mention I sent you, but please be patient as he is stupidly busy at this time but well worth the wait!

The next biggest part of any development is your consultants. YOU MUST HAVE THE BEST team around you at all times no matter of the costs, as this team can save hundreds of thousands or even millions of dollars in the long run. Again if you want some help with whom to speak to, drop me an email and i will give you their details…

The last thing i would like to say is be prepared to take a hit somewhere down the track. All developers take one at some stage in their career is just a matter of how hard you get hit and how early you detect it that makes the biggest difference. When you do, make sure you get up and keep going as this is the type of tenacity it takes to hold the line and achieve your dreams.

Wish you the best of luck

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 Sydney and had his father fit it.

It pays to do your research.

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 all TIME. Don't expect to just do a few months worth of work and think your a developer it may take many years. Expect to take a hit (loss) somewhere along the way also unfortunately this will be your greatest lesson. I believe there is a development course you can do now also at uni which wasn't around when i started.

But if you are truly passionate about becoming a developer and really want it, no amount of NO's will stop you achieving your goal!

Regards,

Well said barnard888

Bruce, 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 to set a strategy/plan for yourself as to where you want to start, what area, how big, why etc etc. Expect Sunshine coast council to take between 3 – 6 months for a code assessable application, 6 – 12 months for an impact assessable application and up to 2 years for anything way outside the box… Also expect to pay handsomely on the S94 Council Contributions of between 18 – 30k per unit!

Personal experience has taught me that you have to give the council a reason/benefit as to why your project is worthwhile approving! Also staying just within the boundaries (grey area) negates the need to advertise thus no objections.

If you would like to have a chat or coffee, feel free to give me a call.