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Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of I-will-get-thereI-will-get-there
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    @i-will-get-there
    Join Date: 2008
    Post Count: 12
    July 6, 2008 - 12:34 pm

    With careful thought I have decided to go a dupex site to begin with, and build 2 townhouses or units.
    I do not believe that Perth is going to go right down pricewise. I just dont think thats realistic. I think it will level
    out and I am basing my selling price on just below market value. Thanks:)

    Profile photo of I-will-get-thereI-will-get-there
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    @i-will-get-there
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    Post Count: 12
    July 2, 2008 - 3:06 am

    Ok,.so who do I speak to about all this? I do not want to deal with the banks direct but I really want the best chance to get a loan
    our last broker realy did not try very hard.

    Profile photo of I-will-get-thereI-will-get-there
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    @i-will-get-there
    Join Date: 2008
    Post Count: 12
    July 2, 2008 - 2:33 am

    Hi Richard
    what type of income should we have to have serviceabililty? We only want a 1-2 year term and ill explain
    our proposal to the bank or broker. We are able to use one of my parents properties as equity as they want to help
    us out. The tax declared is after all costs have been removed. We have HUGE costs in our business such as freight and purchasing stock so pre tax our actual incming and outgoing would be very high I think its 60-90K in a 3 month period.
    Our tax returns should be back in about 3 weeks I am hoping. I tried to get a low doc loan around 2 years ago but they would not give us one with no tax returns. This is all very confusing for us.

    Profile photo of I-will-get-thereI-will-get-there
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    @i-will-get-there
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    Post Count: 12
    July 1, 2008 - 3:39 pm

    Are the bank bills generally easier to get than a loan, or about the same? Thanks for your help by the way, you are showing me options I would not have ever thought of:)

    Profile photo of I-will-get-thereI-will-get-there
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    @i-will-get-there
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    June 15, 2008 - 10:39 am

    I thought that sub division costs would be;  council application, fencing if required,
    sewage, and electricity. I do understand a road may be required but I did not think it would cost 100K. Gee I might get a bitumen truck myself lol.  I have been looking into it, and its really strata lots I am looking at.
    I am in WA.

    Profile photo of I-will-get-thereI-will-get-there
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    @i-will-get-there
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    Post Count: 12
    June 14, 2008 - 3:13 pm

    So selling the property with DA will be profitable in itself do you think? When you say go it alone
    do you mean go ahead and get the dwellings built, or do you mean split them up and sell the
    blocks? (Sorry I really am newish). Can you get subdivision approval for lets say 8 blocks if zoned R40?
    Or do they usually only approve building developments? Thanks:)

    Profile photo of I-will-get-thereI-will-get-there
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    @i-will-get-there
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    Post Count: 12
    June 14, 2008 - 10:43 am

    Okay
    It is across from a new estate ad park so it would be worth more as smaller land parcels.
    I agree why wouldn't the owner subdivide himself? I will make a few enquiries, I am not thinking
    2 lots I am thinking 8!
    There is another property I wasinterested in  R40 also and a 5 unit site. From memory
    only aroun 1500m sq. Again, I asked why do I have to put units on it can I not sell each parcel?
    Eventually I would like to develop in that way but at the moment I dont have enough borrowing
    power. I will have to make some calls tomorrow!

Viewing 7 posts - 1 through 7 (of 7 total)