Thanks for the Wilko.
 
Is it foolish to think that the land for stage one (leave the rest aside) will be worth more WITH the DA and everything in place and ready to go.  Would it not be reasonable to then approach a bank with everything in place and then ask for finance based on the DA and value on completion?

We can then use the finance to…[Read more]

The owner doesn't want to get involved with the development, but I think we'll be work something out where I can settle on one part of the site at a time and possibly even settle on completion with a premium added to cover interest.

This is not my first property as we have several investments.
No previous development experience, but I have to…[Read more]

Thanks for that Freckle.  The placement of that sentence at the end of my post was deliberate.  If I can't make money then there is no point.

DA = Development Application
CC = Construction Certificate
OC = Occupation Certificate

Check this out.  The figures aren't right at all for where you are, but it's not a bad start.

A lot of the advice above is very good.  Don't be too fussed about where your broker is as it's the skills you need, not the face to face time.  My broker is in Kempsey NSW and I have only ever met him once.  He's sharp and quick to respond, which is what I want so that I can move fairly quickly.

The advice on free seminars is good as I've learnt…[Read more]

In Launceston, about a 5 minute walk from the site.  Why?

I really like this list.  Nice to have it all written out.  CTRL+C, CTRL+V

Thanks for the advice Daneo79.  I'm serious about getting this stuff right from now as I basically have no protection at the moment.Just bought the book by N E Renton from fishpond… it was the cheapest I could find and free postage helps.  I'll get that read and then keep going.

I had a quote from a lawyer for a $2 company as trustee for a discretionary trust.  They wanted $2.5 to $3.5k.  More if it needed some 'massaging'.  That price was just to do what I specified as they didn't really want to advise me on how I should structure things.  After all my reading it seems that you really have to do your own research and get…[Read more]

Can I clarify with an example?I have PPOR valued at $250k with a loan of $170k.I want to borrow another $30k – up to 80% – to use for investment.So I should set up another loan secured against the PPOR with an offset against it (NOT the other loan)Put the 30k in the offset while arranging the investment and then use it when ready.The 30k loan…[Read more]

Just finished.  Overall, it was a 1 hour sales pitch for the 2 day event comming up.  That said, I still listened all the way through and took notes.  A couple of things caught my attention and gave me somthing to think about.  Was it worth an hour of my life?  Not really… especially if your've heard Dymphna before.  What did other people think?

How did you go with Lyn amyhunz?

Hey Wake… Happy to chat about Orange and my experience.  I have PM turned on, but I'm guessing I havn't posted enough on here yet.  Email me at [email protected], J

Listening to it now.  Lots of talk of upcomming conference and not a lot of content so far.

I live in Newcastle, but my family comes from Orange originaly and I've been going there looking at property for years, so I also know the area a bit.  I use to drive through Blaney heaps on my way in from Canberra, when I was there.  I pay a bit of a discounted rate as I bought my first IP in Orange through Fishers and now have multiple p…[Read more]

I use Lyn from Peter Fisher.  She is the best manager I have ever had, bar NONE.  She has saved me hundreds of dollars by the way she has handled tennants and always looks out for my interests.  Best manager I have used by far.I know that sounds pretty strong, so I should state that I have no interest in Peter Fisher's and am not related to Ly…[Read more]

I've read all the above and I'm just going to reword what is already there.  If your PPOR will EVER (even if it's unlikely) be rented out, you should have the loan on IO and avoid paying any of it off.  This includes a redraw.  The same goes for your IP.  A 100% offset account goes against the PPOR as long as your living in it so you reduce the…[Read more]

I have a house very similar to what you describe.  The kitchen, laundry and bathroom were all lined with asbestos.   As a home owner you can remove some asbestos yourself, but you need to do your reading and take the propper precautions.  As we renovated each room I removed it, double wrapped it and then disposed of it legaly.  Once the insi…[Read more]