ok
i’ll bring the tim tams

here to help

hi fast track
couple of question
1. What form are the deposits in,cash put calls deposit bonds etc
2. Are they all arms lenght purchasors ( no similar names, or 30 in the same name)
3.Is the site raw, da, cc, or under construct
4. Why not using the current finance company.
5. Why is the property selling with such a high pre sale content.
6.Who is the builder and what type of finish.
7.Address not the number but were.
8. Cost of land and build cost
you can post here if you wish or take it of line and send it to me
This maybe the best deal avail but unless you crunch the figures and look at the project nothing is heaven.
give you an example I went to yesterday.
30 town houses in newport syd
land 7.9mil option
build 7mil
resale 30mil
great drove 3/4 hr to site great site opp water walk to the local pub (i’m in heaven)
went to pittwatter council spoke to the lady she introduced me to sarah.
sarah is the angel from hell because she is the person respossible for all seep5 developments
resale just went thru the floor to 15mil.
look at the figures.
the petrol cost was more then you would make out of this deal.
all is not what it seems untill you do all your paperwork and check everything.
but post or send it and let me have a look.

here to help

hi roy
great idea put you will need an alarm clock or somebody to tell me to shut up.
I think you will be looking at more comming because a few newbees haven’t posted but will once they have read the post.
So I’d be pitching at 15 and if needbe ask the people next door to use there office as well.
oh I like tim tam (or arn’t we allowed to make requests)

here to help

hi Jenny1
Not one for hitting the girls as a couple of you ladies are reasonably smart investors.
so invest
I am not with dazzling about getting out of this property for only one reason and that is you said that you wanted to move into it at some time, so it must be within your time line of where you want to be with 5 to 10 years.
If it is not a major part of that then I would be looking at cutting my losses.
sorry I don’t get attached to real estate it is purely a vehicle to were you want to get to and if this one is flat you don’t keep driving on it remove it, throw it away and get another wheel.
as for developer supplying cheap product unfortunately this is wrong.
A developer works out what is in the market and if he/she doesn’t get a 35% return they can’t develop there.
So if its cheap maybe yours is dear.
my sugestions is (A) if you can hold do so ( you can off load the losses to tax and if your search was correct in the first place then the property will be worth what you originally guestimated it would be worth)
( if the value is not there and you suspect your orginal ideas, then sell, wrap, auction to the highest value and move to the next property not knowing the area but reading yours and dazzlings post this has been going for some time you need to re check your guestimations.

here to help

hi lifeX
like your style.
On the line when your young is the only way to fly, I will watch with interest and if you should fall from those heights and i’m still on the perch email me.
see if I can help.
Ive flown that route and you may stumble but make sure you don’t get in the tracks of others fly put of the group and look for returns or growth ( go for a risky one every so often they have the biggest return).
Not for the faint hearted but the return at the end is more then most.
Consolidate at least every 2 years and then fly on.

here to help

hi Magellan
why darwin it is a sleeping city for me.
I know little about it but I am also interested in darwin from a watch and see point of view.

here to help

hi MissK
I must admit I do bait some times and this was one of them.
You would do well to talk to a broker like mortgage hunter there are a couple that float around this board and will be able to give you alot of helpfull advice.
As for posting the more you ask the more you learn there is nothing wrong with asking just make sure that you accept the reply your given you don’t have to act on it.
and last but not least this quote
and stop looking at all those glossy property magazines that are so disheartening..).
Is not a smart move the more glossy or non glossy papers you read the more you learn what’s out there and you may see in that glossy magazine a 3a unit developement site and then you will remember my reply to your post and you will think I’ll let that nice grossrealisation know about this one (I hope)
Look forward to your posts in the future.
hmmm

here to help

hi AUSPROP
just afoot note and if you cpi increase in your rental and leases.
Then it must grow quicker then the cpi because The return is the same at all times.

here to help

hi Linar
Have you looked outside the square and costed to strata the builing.
A you would increase the value of the units.
b lending on each unit is easier.
Not sure if I should be helping a lawyer I may sit on the fence on that one. but you did say criminal law so I suppose that counts me out of that one.
Also don’t just look at banks have a chat with a broker re private lenders you’ll get 8.75% currently and they will go to 80%.
and the last but not least drag as much out of your home equity in cash and drop it into the loan as it will be at resi rates and split the loan for tax purposes.
This should not be seen as financial advice and should not be used to gain finance.

here to help