i am in se qld,and am trying my first investment soon hopefully also,i want to build duplxes like yourself.but i suggest u contact your town planner and online planning scheme.to give you some ideas to question them about,here are some hurdles i have to deal with in se qld.1- zoning- are in in a low/med/hi density residential area- if u have the…[Read more]

well,latest update is we have finally got in and viewed the property and its fairly rough,as we expected.front 3 units are sellable for 170-180k.however they have mislead us in the ad,we get there and found out the rear 4 units are a a normal building with no concrete floors,hence no upstairs/downstrairs firewalls.all in all,i think the strata…[Read more]

i am still moving on it for now.am going in to view the worst of the 7 units today for an intial inspectiontown planner is back monday so i can reqoute the strata costs and feasabilty again.am still waiting till monday/tuesday to hear back form local broker,however after talking to qld007 it sounds very difficult to finance.our best bet is a 65%…[Read more]

where are u based maurice? aus or what?

Terryw wrote:
You could get a 2 year option and then sell all before this time.

this is all good however its subject to the vendor and their needs too.we will know more about that in the next week or so when they finally let us into a unit to view it,the bloody vendor has been stuffing around for over a week now already.so we go in on the…[Read more]

youness935 wrote:
I agree with alani…Have you thought of options…you pay the current owner a small fee, and that will give you the control and an option to buy the units. If you can sell them, then you might make the exchange and settlement date the same as the exercise of your option.while by no means this is easy, but it's doable. it…[Read more]

yes guys.it is qld.we only just got qoutes on the strata for eg last week form the planner as we priced another similar deal,but there wasnt enough in that one.in regards to interest – we can service upto 15% and make fair money from it.time wise we can hold out to 18 months.even though i have qoutes i redid my maths with 10k per unit for strata…[Read more]

Terryw wrote:
I don't want to dampen your enthusiasm, but think you might be a little low on your costs.

how so?we have priced stamp duty at 33kwe have priced strata/legals etc through council and my town planner which is 35kagents fees through our agents is 35kdeffered loan fees from loans broker today is 1k per unit if sold inside 12…[Read more]

i forgot to say thank you so far for your inputs,any more ideas or comments? something i have forgotten?

we dont plan on buying at 900k,we want to get it in the 800-850 area as we know what he paid for it and is looking to get back out of it.im not posting my whole feasabilty but short points im reading off my feasabilty calculations are:900k buy and all sold in 1 year,10%  inc ALL costs as u mentioned duties/commissions,strata/deferred…[Read more]

Qlds007 wrote:
JasYes with a decent equity injection from your friend then a gross realisation loan maybe possible.Mainly these lenders want to see either some previous experience or pre-sales or at least the deal well covered by security.Subject to the numbers interest capitalisation could be possible but the rate of interest and set up costs…[Read more]

Scott No Mates wrote:
Are bank bills still an option? Do you have the $ for the 40% deposit on a commercila loan?

i am waiting to hear back on commercial loans now,its 30% lvr on commercial,i have 70k in LOC ready to go,this should near cover the strata titleing costs.as a res loan i only have capacity for 123k now as my wife just lost her…[Read more]

sorry it should say jv not jc partners