Forum Replies Created
hi all
I posted to get feed back.munjy you may want to take a back seat while the others drove the vehicle and see how it goes.
nobody mentored me but this seems like a better mentoring possibility to me.here to help
Hi dan_76
you haven’t posted the structure you have or you are buying in that would also help.
my advice if your broker isn’t to hot get a new broker and see what they thinkhere to help
hi Nehal
If you had 1.5 mil and dropped it into a term deposit account with anz westpac or any bank.
Found a 20 unit development site with a fixed price contract from a builder for 3.9mil.
The land would be worth 3.2 mil.
The bank would lend you 80%.
You would have to take out 640k from the term deposit which is with the same bank.
Then the bank will lend the builder up until its complete the bank will capitalise the interest and your 840k is there security hence you don’t need serviceability.
When they turn the key at completion you have a loan of 7.1mil 50% more loan then you have asked for.
unfortunately for you unless you have sold any you also have a 7.1mil debt
and if you don’t sell any you will also have lost 1.4mil but that business.
So in answer to your question you need about 1mil
and if you wish I can give you a better breakdownhere to help
all these readers and no takers
here to help
hi The Wild One
do you get extra stars for the guitar player[chill]here to help
hi gardenerguy
Thanks spi yes I do.
you will ned to email me as I can tell you what i’m involved in but I can advertise or recommend syndication and you must ask me what I’m involved in so I can explain how your system can work.
you are not allowed to ask me to assist in the first tence as this is seen as advertiseing and will put you under the 2/20 rule and will come under asic.
2 / 20 rule is either 2mil or 20 investors per yeareach ever is the higher or you must do a prospectuse to asic.
There are people like me that are structured for this market and if asked can assist.
It might sound funny but some times when you see those guys going in with the wigs on there heads they aslo look funny but they soon wipe the smile off your face when it goes agaimst you so you try to avoid in the first place.here to help
hi gattaga
post the price of the property and the state.
is this a ppor and have you got the deposit.
Then the wise wizards on here may be able to give you some clues.
You could get the contract put at $250,000 and if you settle within 7 weeks (normal time)they will give you a 10% discount the lender will lend on 80% of $250,000 depending on valuation.
post the above and let our creative pens give you acouple of ideashere to help
hi calvin@thirty4
I might be a bug in the oitment but as arule I check with two brokers one I aim with private lender and the second with a bank and which ever comes back with the loan offer first if they are similar I run with them and the brokers i work with do the same with me.
I am in a bit of a different area but there is nothing unethical about it but you must let both brokers know what you are doing and as richard says you don’t go back to your orginal bank as it doesn’t do you, the bank, or the broker any good.here to help
hi ruth
you will find many companies that will give you different short term money but this is not for the novice and as posted this is not advice as you must be willing lose the lot in under a day.
send me a pm and will let you know more if you wishhere to help
hi gogo
If anything should be deleted that last post should as its not a word and should be deducted from your post count with an extra 1 post deduction for trying to cheat the system.here to help
hi JJ&Jo
having read the posts you will already know the told you so bit so i won’t down that path to far except to say that all these types of jv partnerships must be drawn up by a solicitor I in the middle of one this week and the company that does mine michael talks to me about it and his partner in the firm talks to mario so we both now the exact position of each person and things like you question don’t happen.
Having said that mu idea would be to value the rental period that the person lived in the house.work out all cost to each party remove that from the profit and then split the profit by 50%.
now comes the hard part also having read your post I would emagine that there was no trust or company structure in place because if there was or is then talk to your accountant because depending on your respective tax brackets you may wish to change that split for tax reasons.
now for my ideas
whoever is in the highest tax Bracket gets the majority of the losses and the person who is in the lowest gets the profit you get to as close as 50/50 as possible file any huge profit loss off to learning and ask the person to go into another deal but this time make sure you setit up right at the start.
you have the most to lose ( why the person who puts out the most money has the most to lose)
try not to make enemys you will find heaps along the road of investing no need to add to them, if you run out I can send you some of mine.one for outside the square
draw the equity out of the property to the tune of the rental split that and go off investing on your separate ways, stay friends and keep the property.
I’d go for the above.here to help
hi all
couple of things
1.The reason Mortgage Hunter is right is because he does this for a living and as I have post a few times get the best advice you don’t need to act on it but look for it.
2. Shelley D have a look for different brokers and get afeel for only that you can work with to get over your current problem look at diversifying your lending across different areas ie 1 neg and 1 pos property = 2 neutral prop this is a very simplistic equation but it gives you the idea unless for tax reasons you want neg properties with high growth it has to be taylored to your needs and that what a broker does.
3. BenJones I’ll try to answer your post I think simon is right with the account it gives you easy accessable money if you need it I wouldn’t give this advice as I don’t know you situation if you were 18 ( and you have to be to invest) I would put it in the off set account and then lend it out on the short term money market at 3% per month now thats growth but is the highest risk currently there is so its horses for coarses.
your idea of paying off your loan is reasonable good but you have come to an investor board.
this is not advice so don’t take it as and for any advice talk to an accountant.
leave the loan(I hope you used a trust and company or similar structure) as it is.
Get a second loan neg geared in a very high growth area using the excess cash you have, use excess cash into the off set account as discuss earlier and link the payment for the loans to this account.
any losses can be carried forward for any future gains.
keep for 5 years
draw the equity ( as this property because high growth is worth a large amount of equity)out of both properies. throw this cash into a commercial returning 15% and then go back to your lender or broker and get a single loan for all three properties at a fixed rate of 7% for 5 years
and your happy.
sounds simple but isn’t the figures must be set correctly and you must be willing to go outside the square sit down with an accountant and he will discuss.
any body like to cut down my little example do so and don’t post you don’t understand it if in trouble do it on a piece of paper.here to help
hi joe8080
bit of a difference.look back about 3 weeks and there was apost on the same issue and have a read.
that was a 2 br from memory and in the melb city.
any of these types of investments are look at on acase by case bases and are not the norm they have other cost that must be taken into account.once you have found the post and require more assistance post here or again and I will try to assist I am not one for investing in managed resort style or hotel investments unless the return is in the 15% and you only get those in the island outrigger resortshere to help
hi Mukta
what do you wish to know.here to help
hi Doncossack
I think russa is in the eu and you can get lending from eu counries using the euro.
look at london and there lending you will fiend the banks are very interested in lending to eu companies and individuals.
let me know at what rate you get finance.here to help
hi misty
Not sure of the place you purchased your pencil from but its faulty so take it back.
The cost to do 4 townhouses working on a 8ok per site and thats not metro area with the price to hold for da and then construct and depending on the products, I would use styrocon you won’t be comming out of this little deal for less then 1 mil, I’m doing 2 duplex currently and thats 1.2 mil 3 hrs out of sydney. and thats on a da site.
ball park your looking at about 20k for plans and drawings and if you go for brick your town houses are going to blow out to 250k each.
yes building finance is a specialist area and I’m in it.
do all your figures first i’ll give you an example
merryland builder gets lend for 1.4mil bank of qld
pays for da 17 townhouses out of his pocket starts construct gets 1/3 of the way in and runs out of money job stops everyone chases him for money and he comes looking for a lender.
currently 5 lending institutions won’t lend him because they want it from the start and his figures don’t stack up.
Now I can be very creative with my pen and usually are but not half way down the track when the lenders already have the figures.
You must use a specialist building broker and set the deal up from the start they usually charge more and different ways then normal brokers and don’t get paid until the loan is approved.here to help
hi Qlds007
Its not latin.
and with regard to your post, most aphrodites are blonde and as you didn’t post male or female for the teacher I take it that it was a very rare aphrodite and yes they did understand the greek and roman as they were said to be found on both continents.
as you haven’t posted your age and if you were being taught by these ancient tutors no wonderer you do so well in business.
could you send me a drawing of a unicorn also found around those times.here to help
hi voigtstr
Nothing wrong with amway just don’t buy anything but go to the meeting and learn all you can.then when you meet a system similar you know what to expect use knowledge as a form of armour.
and I thought you were in melbourne voigtstr but if not would like to say hello if your in sydney.here to help
hi sampson
we’ll it survived longer then I thought so that one plus for you if only in part.
couple of things.
voigtstr you are right I had it at 7% return without expenses hence I had a 25% growth to accommodate for the lack of income return.
for cillenmolin I work on four levels of investment.
1. rental return against cost usually commercial as the rent/lease is higher and it must be in the 10 to 12% range and easily rentable.
2.low rental 6 to 7% but high growth or potential growth residential 20 to 25% ( reginal 30%)
3.gross realisation ie development sites with gross realisations of 20% and above.
4. speculative business or land banking an area that nobody should enter into unless very experienced in this area similar to red or black in the casino but when hedged with other groups can be very successful.
using a calculator this deal came into number 2 and for me it didn’t stack up my bin is cleared each day with deals that don’t stack up for me(for me is the important part here)this deal would work for a normal home owner or a person that fell in love with it and an investor wanted to live it some day but I first crunch by calculator if it gets thru that, then I crunch the numbers.here to help
hi Celivia
two things
yes you can post in the cavet section in somersoft but you must be a member and post 35 or 40 posts before you can advertise and it hard to post there as most of the post are out of date I post maybe 1 or 2 a week if that.
and they would cut this sale to peices as it not from my point of view a great investmenthere to help
