Forum Replies Created
hi young investor
I think I have answered one of your post before.
I’m not sure what state you are in but get involved with like minded people in your area if you are in Sydney then the have a meeting comming up some time soon which is agood place to meet and get some reference I don’t think my guys would want me to stick there name on a bulliten board.
Go to the post it was by camber (I’ll find it and revitalise it)you can let them know to email you when the meeting is on.
not sure for the other states.
I don’t have the same opinion as shake-the-disease but each to there own.here to help
hi all
rule number one
Never get attached to real estate I don’t.
If you think that its a bit hard to negotiate then find a negotiator to do the deal on your behalf.( no i’m not applying)
Your local school has lot of parents and some of those will be real estate people, car sales people (they make good deal crunches) and they are removed from the deal and working for you.
As for cash it makes a big difference anybody who say it doesn’t hasn’t handed over rolls of notes.It makes handing it back very difficult for some people.
As they say money talks, —- walks.
and to put your mind at ease 40 k is not that large amount of cash, one of my fast food clients carries that in his till at the end of a day and it isn’t a case.
I think you have been watching to many bond movies no chained brief case either just the normal leather computer bag for me.here to help
hi giddo
I am no saint and I work off a very old neville wran saying there is nothing illegal as long as you work within the system and the guy in the wig has not already said its illegal( para phasing him) there are alot of systems out there that people use that are not dishonest but they would not be called honest either they are in the grey area of business and some the ato hasn’t fallen on either side( yet).
Some times I have to walk like a jedi and use the force because there is no rules in some kind of finance deals.here to help
hi giddo
I have dealt with the ato on a couple of occasions and I would like to think this was the case but (sorry)its not.
I have no problem overstating your income at a bbq or the pub but the view from the ato is simple this, which did you deceive ( working on the premise that this has happened)
The ato I hope not or you have inspectors looking thru all your paperwork for weeks.
or the lender which you hope not as the loan will default.You will be required to pay back and I would find it difficult to find a lender that would lend to person or company that had just had a loan cancelled for deceptive practice.
I have a couple of friends who are also in finance and one very good friend uses a saying for his business.
I don’t get you to the start line I make sure you finish the race.
This topic came up last friday night over a couple of beers re this type of loans and I thought I would post a thread for interesting postings.
should you have many of these types of loans or discrepencies, don’t run for the nearest bus to get under it see your accountant talk to them and get it fixed so the paperwork matches.
how ??.
thats what the pencil boys are forhere to help
hi all
couple of things.
1. why can’t you show you financials
2.have you wrapped or are you looking at wrapping
3.have you anything to throw into the pot to make it look anything like some thing a bank will get fuzzy about.
4.what are you renovating.
and dd what is vanilla home loan and magic cap loans.
no doc loans were introduced into the market place for a particular reason and so were low doc they are not the be all and end all of lending and should be taken with the use of a broker who know what and why they should be used.
a little bit of advice which should be taken by all no doc and low doc lenders make sure that even if it is a no doc low doc loan that your own personal tax returns reflect what you have give in your no doc, low doc loans.
I don’t offer either as its not my area but it seems to be away of increasing the cash injection to a project and as long as both sets of paperwork line up alls ok when there is an error the tax dept has very long pockets.
low doc, no doc are regulated loans.here to help
hi KylesM77
have a read of the post for the last week get an understanding of the different types of investments and why people invest in different ways.
I do not have age, race, number of kids, or ages of kids, because you are a single mum works both ways easier to move easier to make decisions,
My advice is first read and if need be post again with (single mum needs help) and let me read.
But this time let me know your goals for 5 years from now. and a couple of people can give you very valuable advice.here to help
HI Jimoan
Not sure of the question from a lender point of view you would like better then 106 % or you are looking at a no doc 100% loan.
If either what do you see is in it for the lender.
I don’t do 106% lending I know a couple of brokers here do and I have recommended a couple before but I am interested what you think would be better then no cash outlay with a 106% lend on a 8.5% rate.
I have a lot of commercial who would beat me with a stick to get that.
but I will watch with interest as this is not my market.
and I live and learnhere to help
hi all
I’ll put my bit in and give you my last deal.
commercial passed in at 600,000.00 three timezs at auction.
Went to general meeting ( association owner)with 40,000.00 cash, no cheques.
Asked for a special general meeting vote walked out without the cash and owned a 400,000.00 property got a tennent in within a week on a 5 x 5 lease at 12.5 % return cpi middle sydney.
cash talkS.
The real estate must give an offer.
go low ( i did) and come up if need be.
Make sure you know your market and never go 10% over what you think its worth.
I don’t and I deal in real estate.
sorry you can’t buy from me I’m on the other side developing and we have to buy at the right price also.here to help
hi adco
From your post this is going to be a business.
The first thing in making a good business is getting the right people involved.
With your business look thru the posts.
I did read a very good list of people you need.
From accountant thru to finacial advicer I think I posted two.
next after reading that you need to decide how you are going to run your business and what structure.
You will then know if trust or company I won’t recommend either as I’m not allowed to.
I run three companies and 5 trusts all for different reasons.
I would not recommend either individuals or partnerships unless this is your primary residence
and your are reno and sell complete.here to help
hi clea
I don’t usually bite the hook but for this one I think I will.
1.dazzling I like the email and do you answer to this email address.
2.$265 p/week at a 7% gives you a $196,000.00 lend neutral with out other costs
3.At your income and the cash deposit you have I would be looking at diversifying with a high income property group and to bring the tax down a high capital growth low income property group ( if you want to stay in property)
They call this hedging most business and super funds use it.
As for your email dazzling with regard to this issue I don’t think that most people on this web site would understand hedging, put call option or diversifying to this stage, that is why I think that clea needs to know if not from somebody.
My recommendation to you clea is talk to a very cleavour accountant to organise for you. when you get to 110,000 a year you have to be very careful how you organise your investments.
I can’t nor would I give this advice to a bulliten board sorryhere to help
hi young investor
I’m not even close to a young investor and my only advice to you is I only invest in sydney.
I live in sydney.
I invest in sydney.
and I work in Sydney.
I have alot of people that work with me outside of Sydney in there own area’s.
But get your area right first before investing in fiji( fiji is closer to me then perth or darwin).I can tell you that if you give me an investment in perth and you live in melbourne you will find a better and easier investmet in melbourne and I don’t know the melbourne market.
What you need is first to find out what you are looking for and sorry I can’t give you that (thats why you posted young investor)learn your market get out the local paper and know as much about your market as I do about mine.
Sorry if this sound hard but that’s businesshere to help
hi pkluge
Forget the hurting your head this comes with any real estate.
the rule is 1br first, 2br second, 3bd third, then town houses and the free standing houses next.
1bd is a very good investment if in the right area.
I’m a little bias here because I look for growth not rental maybe a couple of people will give you a different view at the end of the day you must organise your mix to suit you.
You haven’t given an area so that makes it difficult.
my recomendation is chat with a local real estate to find the following.
1.is 1, 2, 3, bdr in demand.
2.whats the return
3. do they have access to rp data
4. cost of managing your units
5.work up a relationship with your local real estate using there systems(and they have very good data bases) to decide what is required for your area.
if then 1br are required get involved I just put 19 x 1 brs in a area here in sydney that needs 1 br they sell a lot quicker then any other.
reasons
1. below the $330,000.00 thresh hold for single lending
2.if 60 to 65 sq 2 people can live in ok ( I could when single)
3. low over heads. starta by fsrI like 1 brs but they must be in the right area and aimed at the right market.
here to help
hi Bob Dobelina
I have read your post and it makes very good reading.It may come as a shock to a few but I do a lot of both land sub division and gross realisation lending.
I have sent coreyjay an email with a 18 million land sub division I am working here in sydney on so he can get an idea of the way to value this type of land.
when you are asked the value of any piece of land its value is (a) what you can do with it and (b) who wants it.
In coreyjay case (b) is not me and (a) hes working on.
I am how ever looking for 2c unit development site( and have not made that any secret and 3a commercial residential development site )if you find these then I would have a very strong interest.here to help
hi indigo_violet1625738
***deleted – advertising***
here to help
hi all
***deleted***
oh and Qlds007 can you email me with your one bedroom build cost per unit on your last project. I read you have just finish some 1br units.
email me if you are interested in development syndications.here to help
hi all
I read most post and I’ll give my bit to this one.I don’t think that I would invest in it unless the area has a growth rate of 15 to 20%
and even then I haven’t had the question of why they wouldn’t lend themself.
I can get very nice no doc, low doc, and any other type of doc loan and I think there are at least 6 other brokers that can do the same on the site.
my advice stop playing around and sit down with a bank or broker and nut it out as the information currently for me as an investor doesn’t add up.
you would do better with a westpac term deposit and no headaches.
Are we recommending term deposits now.
If any body reading this post does think that term deposits are the way to go email me I have a couple of syndicates that would like to hold your money.here to help
hi Brizza
Not sure If I can answer your question but the answer is basically yes.
You can lend to develop it depends what are you looking at putting on the site.
I like that qld007 has done 100% gross realisation lends and would be very interested in the banks, lenders or private lenders that will do this I have a couple of deals that I would love to pass past that group.
And westinvest send me a email if you do gross realisation lending I couldn’t see it on the website.
Post what you are looking at developing and I will give you my advice,
I start at 2,000,000.00 and stop at 10,000,000.00.As for letting you knock down.
I look at it from a different angle but I see it from your point of view.
There are many ways of getting finance you just need the right person to apply correctly for the correct type of loan.here to help
hi Matt R
I don’t know were this home is and you don’t know if there going to stay.
so first find out if they are going to stay.
then get out your local phone book and ring a couple of homes near by see what has been going on.
may be they have been going well and all will be great get the inside story.
ask if they would like to sign a 5 x 5 lease ( that will tell you if they are interested.
and the last part is that nusing homes are on commercial site usually note sure of this one I bought my last nursing home 35 bed at $115,000 per site the value at the time was $140,000 a site so they can be valuable.
there is 18 units sat on it know.
kept the name castle leap nursing home became castle leap apartments.
check all options.here to help
hi all
yes it is possible but there a few hurdles that need to be got over.
There are a lot of easier ways of doing this but the cost is reasonably high and unless there is particular reason for it Ie income spliting or creditor attack minanisation.
I wouldn’t recommend it as with all this type of setup when asked by the ato you need to explain why you did it this way in the first place.
a good accountant and a word with the ato would be a good recommendation.here to help
hi sharn
how many houses have access to this easement.
If only two ( from the part just moved in are these people tennents or owners) I would surgest a relatively cheap automatic closer unit( approx $600.00) with 4 transmitters on your land.
Giving them two hand sets.
You can then close the gate when open and they can open and close the gate at will.once they have lost there hand set and find it cost $75.00 for a new one they will go from the front.
If tenents the owner may pay part of the cost.
I am going thru the same thing with a site.
Four house use this lane that will soon have an extra 28 cars using it and they are trying to stop us using it as the main entry point to the garage area My recommendation to them was look at the survey, I have access, I have access,
The above I think is your best move.here to help
