Yuo have the same problem I do PK
Every time I type ‘the’ it comes out ‘teh’

Anyway, thats a rough rule of thumb stating that your profit may be $60k.
Your costs and timeframe can blow out very easily and eat away at your profit margin.

There are lots of costs that have not been included, in your example.

Have you worked out how the three…[Read more]

This thread is going on forever and ever……one of the most popular.
must reflect Perth’s status atm.

Anyone feel like a bubble is forming ??

kp

Sounds like you are offshore currently, and got the blues…

Seems like the portfolio is dependent on your job income to maintain it..
Have you considered sourcing other streams of income that are more inline with your property investing experience?

eg…you can organise syndicates for other investors and take a success/management fee.
you could…[Read more]

The best ppl to know should be the developer….
But they will not be able to give you and exact date.

The best you can hope for is to contact their settlement agent closer to when they expect the titles to be released.

kp

*** Nice view ***

Marisa, is that who you bought the block through ?
And how much was the required deposit ??

kp

Surely you need a licence before you can operate a betting establishment??
And you will have mucho problems getting a licence…so it would be an illegal activity without the licence….thus leading to criminal charges.

No licence no bets imo..

kp

Depending on who is responsible for listing all the conditions that need to be met (eg…for strata subdivision it should be the local council and for green title subdivision it should be the relevant govt. department)…once all these conditions are met, then the title is usually created and made available for dealing…

Some of the conditions…[Read more]

Originally posted by DannyBoi:
Originally posted by Dazzling:

“You can’t teach new dogs old tricks”.

Are you aware that the more well known saying is “You can’t teach old dogs new tricks”. This really seems to be true in your case. You are way too opinionated for your own good.

I could argue with you all day but there is no point. After all…[Read more]

Originally posted by Don and Liz:
Nice post KP. Heaps of detail in there already but could you share what sort of house and land you rolled the profits back into. Are they single homes on blocks of seperate title or have you split another block/s and built dwelling on each.

Oops!! Sorry Don n’ Liz…haven’t logged in for awhile and missed your…[Read more]

What the ?????

CGT is a federal tax administered by the ATO.
It applies equally across all states.

Who told you such misleading info vernon, and on what basis was it referred to?

There is a 5 year rule but it applies to GST payable on the sale of a NEW property or house.

GST is due upon the first sale ( ie, not due on subsequent resale of the…[Read more]

Thats the point Kerwyn,
There are always opportunities out there.
Does everything come to a grinding halt coz the RE market is not performing??
More a matter of ones mindset, and whether one wants to bother looking for those opportunities.
Misnomer as far as I am concerned, as it still is performing as far as I can tell.
Anyway, the more ppl…[Read more]

Ahhhh…that would explain it
Thanks Steve.
But…posing the same question again…can you originate a loan for a customer (me) who is in WA for a WA property ??

A broker in Melb has advise me that they can do it.( for a WA property)but I am not sure how ??
I have used the same broker to organise a loan but it was for a Qld property.

kp

Wheres part II Redwing ?

OK…here is one completed in March this year.
Duplex subdivision ( green title) in Perth

Purchase property $305,000
Closing costs $ 12,000
Subdivision costs $ 23,000 (incl demolition)
Loan to purchase $244,000 (80% lvr)

Construction cost $260,000
Construction loan $260,000 (100% of…[Read more]

Originally posted by yack:
Time to Consolidate?

Forget about buying any property now.

If you got properties just do what you can to consolidate.
Pay a little more off or maybe do a little renovation.
Wait for it to come back. Save a deposit in the knowledge that prices will possibly fall a little or remain constant.
Don’t buy now just to find…[Read more]

Awesome result Terry…
Can you clear this one up pls?
I have spoken to a broker in the eastern states who has advised me that they cannot organise finance for me in WA unless they have a CPL as issued in WA ?
Is this correct, and if so, how did you manage to organise finance for Dev on their WA purchase ( apart from the obvious, that maybe you…[Read more]

PS….. out of curiousity, where is this ‘hot’ market you are operating in, such that you have to offer ‘cash’ as an inducement / incentive to convince sellers to sell ?

I was of the understanding that most markets for property are steady to luke warm at the mo’

kp

OK I understand.
I thought by the banner under your sig that you were maybe offering a service….

Myself ????? mainly buy, subdivide, build, and sell.
Similar to you in that we turnover property and take a profit on a regular basis.

Its a bit of a bad habit that I am trying to get away from…( ie…diversify and look at other areas of…[Read more]

Thats great JD53
Can you get them to open a branch in Australia, and I will be their first customer !!

kp

What is it that you do again, Xenia ?….
Only kidding, just trying to stir it up again.

I have to agree with Daz and Wayne.
No reason to hide from what you do.
Its not against the law is it ?

You will always get the naysayers and doom and gloom merchants, and those with a narrow perspective that respond out of ignorance or envy.

Screen out the…[Read more]

Well thems rules ain’t they Apostle??
If you didn’t bang them pegs in the ground and just went for it, then that would be ‘no rules’

But seriously, we are doing a subdivision in Qld, and the rules are no different from elsewhere in Oz.( obviously not!)

You have to consult the council, and get a consultant town planner on board, as well as an…[Read more]