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  • Profile photo of macca12macca12
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    @macca12
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    April 5, 2012 - 11:10 pm

    Thanks Richard! Have you ever worked with those UK lenders & if so who do it?

    Profile photo of macca12macca12
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    September 29, 2011 - 11:45 am

    Sorry when i say 'here' i mean i have equity in a property in Aus and im live in Aus as well

    Profile photo of macca12macca12
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    September 29, 2011 - 11:42 am

    Hi Richard,

    I mean using a residential property here as security plus around 50k cash. Im really 'green' when it comes to overseas investing but think that the UK would offer some great opportunities at the moment to purchase at a reasonable price and maybe easier to get CF positive.

    Any info on how to buy in the UK would be greatly appreciated. When you say you are sourcing properties for clients do you mean you act as a buyers agent as well? What sort of $$$$ are your clients investing?

    Cheers

    Profile photo of macca12macca12
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    August 24, 2011 - 11:30 pm

    Canada….no thanks!!!

    Hobart unit was purchased for $100,000 7 years ago. We re-financed to buy the house that we build the unit out the back of (Property 2 as detailed above).

    Since posting yesterday I feel like an idiot after spending the last 24 hours thinking about it…….why the hell would we sell a property that virtually pays for itself and is located in a great area.  We would be best to sell Property 2 that costs us $10,000 a year to hold and free up that $50,000 equity to have cash for a reno project, whether thats a reno to sell or reno to hold proeprty. 

    From what I have read lately I understand the need to try and make properties CF positive or as you say Catalyst worst case neutral particuarly given mine & my brothers crappy incomes otherwise we will hit our serviceability ceiling very quickly.

    Thanks for your thoughts

    Profile photo of macca12macca12
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    February 3, 2011 - 9:14 am

    Thanks Leo – good advice

    Profile photo of macca12macca12
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    February 3, 2011 - 1:13 am

    Couple of things to check, firstly see local council and check their land size requirements for a second dwelling, generally the land size required to build and strata title will be less than that required to subdivide.  For exampl in my local council in Tassie you need 350m2 to build a second dwelling but the next door council resuires 375m2 so this does vary from council to council.  Also check with them what the land zoning for the property is – for exampl a property maybe zonned rural residential which would prevent development as oppose to a high denisty residential zonning.

    Also while researching a particular property ask the agent to see a copy of the property title and schedule of easements – make sure there is nothing there to prevent development. For example you may find a house that has a large block that fits coucnils land size requirements but if there is a drainage easment through the backyard it may impact your usable land.

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