Healthiswealth

Healthiswealth replied to the topic Mexican standoff in negotiations: Creative minds needed! in the forum Help Needed! 8 years, 9 months ago

Thanks guys,

Yes already attached parts of P&B demonstrating structural issues immediately after receiving report back, whole property needs to be gutted anyway so vendors are aware of the condition of property.

275k is my limit, there will be no milking of me haha.
Vendor is also keen for quick settlement but wont budge on price.

Looks like…[Read more]

Healthiswealth replied to the topic Mexican standoff in negotiations: Creative minds needed! in the forum Help Needed! 8 years, 9 months ago

275k Is my limit.
I need something that will work for both parties that doesn’t involve simply putting more money down,
that’s not very creative

Healthiswealth started the topic Mexican standoff in negotiations: Creative minds needed! in the forum Help Needed! 8 years, 9 months ago

Hi guys,

I am in need of some help with my current situation.
I have come across a residential property on the central coast of nsw.

It needs significant renovations and so once I went through the property it was obvious that the 300k selling price would need to be lowered.

I came to 270k as an offer and vendor cam to 290k. I then got a P&B and…[Read more]

Healthiswealth started the topic Joint venture partner needed for Subdevelopment Penrith Nsw in the forum Help Needed! 8 years, 9 months ago

Good Morning potential partner!,

I am seeking a team mate for a very promising sub development prospect I have near Penrith NSW.

I am specifically looking for a partner to provide the financing abilities while I can provide the knowledge, time, locality, connections, organisation and expertise to complete the deal.

The profit margin and…[Read more]

Healthiswealth started the topic Subdevelopment tax implications in the forum Value Adding 8 years, 9 months ago

Hi Everyone,
Could someone please give me some tax implications info on sub developing and selling?

Say I was to subdivide a 5 acre block where an elderly couple lives, buy the other half off them and build a house and sell.
What sort of CGT costs would I be up for assuming:

Land PP: 200k
development of house: 350k
Sale price 700k