Forum Replies Created
- dcwwood wrote:Why is it every time I log in there are like 400 'guests' and only 10 'users'?
Maybe the 'guests' don't know the benefits of becoming a 'user'?
So all the 'users' lets create a list of why 'guests' should become 'users'…it benefits everyone!
I'll start –
1) You can actually engage the forum and post questions/queries and thoughts about property
2)Maybe some of the 400 guests are user's like me – they have a look around and if they feel like responding or have a question then they sign in. ??
Sash,
Thanks for your reply. Hopefully your project issues will get sorted soon and you can get on with building!
All the best
MattHi Sash,
I read your post with interest as I am considering meeting up with the "Property Subdivision" Company and found your post google-ing to see what experience others have had with them. Hoping your happy to answer some more questions.
How has your project been going since your last post (Nov 2010)?
What size of development is it ?
You mentioned that they said they 'make there money in the build', how have you found this?
Did you get them to source your property or was it one you already had?
You mentioned a $100k + profit – is this before costs or after?Thanks in advance!
MattFYI
Carly will be on Channel 9 "the secret millionaire" show Monday 23rd Aug 9.30pm.Helping others gives new meaning to creating wealth.
Matt
Try Benjamin King Money in Camberwell, have been around for 50yrs – they understand property investing, devleoping and trust structures.
LIfesjourney
Richard,
I Have the July API didnt see you in it.
Cheers
MattBoth have sold
Thank youHi Homerun,
There is a Resource by Martin Ayles called "Development Blueprint" which used to be available for sale through this site, but is now out of stock. I put up a post yesterday under "General Property" asking if anyone is interested in buying it from me & noticed your Post & thought it may be a good place to start out & give you the knowledge you need? It was produced in 2006 so the info is still very current.
There is a link HERE (will open in seperate window) which is from the "products page" from this site, and explains what is included in the package.
If you are interested let me know via email.Thanks
All the best
MattI have obtained a copy. Thanks
Hi Ali,
1) So you mean we can actually sign the contract and pay a nominal deposit, like a holding deposit, without having the vendor sign as well? Is this contract binding in any way then? YES! it is binding and agents use the contract to present an offer as it makes it harder for you to pull out.
2) I thought once you sign, it means you are ready to exchange contracts?
This is what I thought – I think it depends on the agent or where you live. As i had only signed when we were ready to exchange and vendors agreed to all terms, but recently buying in Melbourne every agent wanted to present an "Offer" to the vendor by signing a contract, which can be dangerous if you arent prepared or believe the agent that it is just an offer. A good website for info on the offer/contract process is http://www.lawyersconveyancing.com.au I have used them.
3) And if the vendor sign as well, do we just get 5 days (cooling off), instead of 14/21 days, to have our building and pest inspection done? Still get your 14/21 days as well as cooling (3day in Victoria) NOTE: I believe coolin off period is from when the purchaser signs not when the vendor signs, so if they counter sign and you have passed 3 days – then you arent protected! Dont rely on cooling of period to get out..Just suggestions…seek legal advice – Try website above: good resource and helps you in being protected even if your not in Victoria.
Regards, Matt
Ali,
When you sign a contract, you would only offer a few hundred dollars to "secure" the property and should the vendors sign as well then you have say 14/ 21 days to carry out a building/pest inspection or what other conditions and if happy to proceed pay the deposit by the date set out in contract 14/21 days. Most ok with 5%.
Be careful of the standard Real Estate agents special conditions, ie: building / pest inspection as it is designed to LIMIT your opportunity to end the contract – as it only allows you to pull out only if it has major structural defects, you are better putting in your own condition that states if the report is not to your satisfaction then you can walk away and all monies refunded.
Regards
MattI bought it a year ago and have used it on a loan with an offset attached (which is supposed to have most errors) for a statement period of 6 months so far and found that i am in front $40 and errors in bank favour were only 8c! I thought it would be the other way around – better in my pocket. You reminded me to check the other 6months.
I was consolidating another account and found the amount written as a deposit once added to the balance was worth an extra $18. Worth checking your statements.
MattHi Maria,
I have sent you and email,
Thanks
Matt
Lisa,
Good job – those brown walls were pretty sad!
did you paint the tiles in the toilet?
MattThanks for your reply,
The way the article reads may lead people to thinking that only "your" PIT has these threshold benefits “…..In Victoria it's very similar to NSW, except our Property Investors Trust will get a $20,000 land tax threshold…” Although I realise these type of articles are designed to give general info whilst selling the "product", which is fine.
Enjoy your day, Matt
HI Golfin,
Would there be a problem selling off the 2 blocks once sub divided even if the tennants are there? A 1.8/ 2mtr fence would hide the units? Then use the money to start doing the units up.
If the tennants are in breach of their tennancy agreement you could try and get them out…legally, not sure of actually process.
OR pay them to leave – tell them you need to sell and offer them say $500 to move out as compensation and pay for ute hire???
Just suggestions…
MattCBA has risen 30bp on fixed and the "majors" will most likely follow in the next few weeks, not sure what variable is doing…no bank wants to be the first to raise, but will once the first has.
Cheers Matt
I have noticed that agents like including garages as this can add a extra 4-5 sqs!
Matt
Terry and Richard,
Just talked to my Broker and he talked to ANZ again and was told that the info that he was given previously was incorrect! (my first post concern) and was told that it can be set up as initially intended – I just need to be a guarantor as I am a beneficiary of the trust.
I am glad that this has worked out as My Father is my broker and didnt want to have to go elsewhere!! so a good lesson for both of us.
Thanks
MattThanks Terry and Richard I will look into it.
Terry, How long ago did you use ANZ for this purpose?
And Richard have you used AnZ to do Hybrids?
Matt
