Forum Replies Created
hi meak
my advice is swop broker there are any number on this forum don’t email me,
you will get better advice and he’s supposed to be working for you and should know.
a couple of brokers here have very good pencils and should be able to help you out ask a few.here to help
Hi Resiwealth
Not sure if we can cut the time down as mine is still need of time to run.
Not sure if you have read my earlier post but have spoken to steve re his mentoring programme and its not on the same lines as this, as his is a information and fall back position mentoring.
I would like to take the wager except I don’t gamble never have nor would I but it would be interesting to see who makes the most profit and remember this is not which group makes the most profit its what you make personally that counts.
as for masterminds sorry but I don’t know any but I do know good projects there the ones I get involved in .
Not sure of your barrister I have 2 and Marcel and Jason are very expensive so I don’t get them involved unless I can recoup there costs.
and sorry to harm your ethics as we all have different ideas on ethics and I don’t look as these business ideas with ethics in mind.
We have some time yet to run but once all is in place I will ask who wishes to post there deal and by all means you can post yours.If you wish you can post earlierhere to help
hi all
not sure if we are going to a meeting to make money as a rule I make it in the market place.
What do u want.
Who can help
What to research
Mastermind teams qualifications
Set levels for people on different stages
Set time limits
Set topics
these are well and good and seem ok but they remind me of the section from a teli marketing campaign.
I was under the impression that this was a meeting of like minded investors who wish to share ideas.
I agree that a form of structure is required but the above is not something that I would be recommending.
not sure about masterminds I haven’t met many that arn’t from some sort of circus as they always try to get the money out of your pocket while your not watching.
india has heaps its just they don’t call them masterminds.
is bill gates,packer,corrigan,pilkington or smorgan any of the masterminds your talking about.
as for setting levels who will be the person to pick a level.
I would be interested in this level proposal and were am I on this level playing field.
interestinghere to help
hi suzieq
it a risk for profit if no profit then don’t do it.
sorry to be hard but business is hard.
what if you don’t get the property are they still will to pay your expenses.
what you are asking from my understanding is bird dogging and althou I like it as it shows enterprise few here have my view.
good luck and pm me as you can do the same for me.here to help
hi robo
drx idea is the best and is similar to what I do,
you invest in a positive that then off sets negative property making both neutral but the neg usually has high capital growth.
the structure must be set up for each group and they work very well.
It helps also if you build the neg property.
As you can lend on the property and get cash flow.here to help
yep
I have the letter of offer on the project above and still haven’t done my due diligencies.
getting money is not difficult,
making money thats a different question.here to help
hi all
I think that this group has been going very well and maybe resiwealth might pop over to the next meeting a give us some help as the more the merrier as for chairman maybe toni or milaka might want to put there hand up or another postee out there this is a very informal group at the moment and it does need structure and I think both roy and len have done a very good job.here to help
hi all
As far as I know each type of trust is for different reasons not sure why people are of the opinion that a company gives less protection.
I was of the opinion it gives more protection as
a its worth $2.00 and then after that it has atrust underneithe that has basically nothing as its a trust if the individual owns the trust then the individual is still in line if any problems occur discreationary and hybrid are only different ways that you can claim or disperse monies.
I am trying to organise atrust person to talk at the next sydney meeting to clarify a couple of these trust issues as there is alot of learning to be donehere to help
hi Qlds007
yes to property must be in qld.
or yes to allhere to help
both are techicalities
here to help
hi roy
organise a trust person(not supposed to say guy in this perfect world) and see who comes.
see I’m trying to be politically correct sorry I can’t write correctlyhere to help
hi Qlds007
Does the property in this company have to be in qld to get this exemptionhere to help
hi Qlds007
with qld companies if the director change with in the company and one goes out and one comes in there is no stamp duty the same as vic companies is that correct.
and do you need as with real estate a qld solicitor to set these companies up as in vic.
This is off the track of kp question but I’m interestedhere to help
hi
1. Know your risk against profit feelings
2. Don’t invest in anything with money you can’t lose ( this one need thinking about, if you can’t afford to lose it then don’t invest in it).
3. Investing in anything, anything, get second and third opinions and do your own due diligences.
its your money and if you have a problem go to number 1 and 2here to help
hi robo
fines are fixed does matter the size of the project.
the builder should carry the cost we are builder and developers under my system.
If you haven’t exchanged yes as the money has not and can’t be deposited until exchange so what I do is leave the real estate with a nice cheque 10k (holding 2 sites currently with two 10k cheques) but it can’t go any where until exchange so yes if the finance falls thru you cancel the cheque.
If you exchange and have subject to finance on the contract.
no you don’t get the deposit back as the vendor can get you finance at 14% interest rate.here to help
hi foundation
we all have to learn and some people just don’t know so we must bite our lip every so often.
you are correct in your post the other little point is that with most depts they don’t have sunset clauses so if they find out in 9 years that you have done the wrong thing you can’t say its been to long so you can’t get me they have very long arms and very deep pockets so just do the right thing and you have no problems.here to help
Hi Roy
Its not my idea but I think that the group needs a name.
either name is ok to me its a discussion point and lets see.here to help
hi all
developing is not a case of buying
1.
a block of land ,
getting a loan for the land.
exchanging on the land finding a lender for the build and then getting mezzinene finance to complete.
developing is
2.
finding a site
holding the site either or (option, caveat,5% deposit or less,)costing the construction with the help of (broker, lender, builder, solicitor and accountant if need be)but all cost must be calculated.
value the end product ( real estate)
work out profit margin, calculate in contingencys
once this is done then get the bank to lend the land and construct ( banks hate it but get the formation correct from the start).
when you have the approval in your hand then exchange on the land.
mine is similar to above just a little more creative but this is a minimum structure.
with number 1 you will lose, the cost blow out and you don’t or can’t find the money and the lenders like to see a floundering customers because they need money.
The best time to get money is when you don’t need it.
with number 2 if the figure don’t stack up you lose max 5% but if creative you only lose time.
I get lots of project but only do the ones that hopefully make money.
so far they have.
As the name says this is developing not wishfull thinking, gambling, tossing a coin.
I have taken the good part of 3 weeks on the current project just doing my due diligences and haven’t even got to the calculation of return.
resiwealth is correct it risk against return.
This market place requires alot of work and it not just the building side that is only half.
I will give you a couple of examples that you can’t factor in.
1. (ohs) inspector drive past your site in nsw.
A.$5k fine for no helment for each worker to the builder/developer
B.emergency and occupation folder not in it correct place( nobody could find it) $5k builder/developer
c.caps on exposed steel no enough $5k builder/ developer
d.uneven scaffold and not correctly fixed $5k
and the rest.
This might seem excessive I can tell you we just paid this bill and it came to a total of 55k and is billed to the developer.
if we don’t complete with in the time the bank has organise the interest for
you could be on 8% interest but if you run out of time the interest jumps to 14% on a total cost of 6.7mil for us.
The contingencies is there for the cost unforseen problems.here to help
hi Psychiatrist
just a couple of question
how did you get your lend for this property as they would be the first port of call for these rebates.
you don’t have to answer the next question but why qld if your in sa for the first investment it is good that you have invested and and any start is a good start for me just wondering your reasoning on investing first out of your state it is a lttle unusual.
For qld info send a pm to qld007 hes a broker up there and will be able to help a lot better then me.
It is my understanding that to purchase in qld you must use a qld solisitor and he /she would be the third port of call.
hope this helps.
And spi we will get you into that first property yet.here to help
hi Psychiatrist
I would change my name back if I was you I thought the other was better but I’ll add my .002.
a few people will know that I’m very creative with a pen but I don’t nor would I gamble an thats what you are thinking of doing. checks or no checks the dept of anything has very big pockets and they don’t take prisoners so for the risk you are taking and this is a investor board so you look at risk against return the return in your case is not worth it.
sit down and work out if the dept take a dim view and they may what is your loss.
I’ll tell you a lot.
I would do as simon has said and make sure all business transactions are above board and very transparent and as depreciator has posted the last place I would ask for this advice would be on a bulliten board.
but thats my answer.
If you are in business and that is what you aspire to be (by being an investor )you will be audited and when you are it must very transperant.
you are the start of a long journey so don’t start off with three wheels on the car.here to help
