Thank you Richmond

I did. Still not clear to me if they invest in positive cash flow properties or develop or …

Maggie

I am sorry[]
I guess you mean to borrow most of the money.
It looks like I am still sleeping, just came to work.

It sounds good but keep in mind that $1000000 even
in the bank will bring $50000 with 5% interest (what is at the moment)

Thank you Michael,

You are very helpful.
Yes, we do intend to draw a plans and go to the council and talk to them first before we do more detailed plans. We know the regulations and the Res Code. Usually the Res Code is not that strict that’s why some people after they have knock back from council go to tribunal and very often they win.…[Read more]

Michael,

I have checked out the web site.
Impressive, it looks like you have built a lot of projects.

Can you tell if all of them are subdivisions or you do both (single homes one on block and subdivisions)

Do you work only with investors’ money or the company has projects that are finance by the company and at the end sell them to inve…[Read more]

Pebbles,

You scared me, we have bought a corner block with 60 years old house on it (which we are thinking to demolish, still exploring the options). The thing is that the area is very good close to shops and train station and guess what a lot of old people live around us we know for a fact that one of our neighbors will be trouble but I think…[Read more]

Very good info!!!

Can you please tell us, when you do calculations to see if a project is worth doing how much profit you are seeking to achieve per unit?

Hi Paul,

There is no doubt that if you subdivide yourself you will make much more money.
We do subdivide blocks in Melbourne.
It is very long road though it takes time could be easily a couple of years by the time you get it through the council then find a builder or if you decide to subcontract the work yourself. If you have not done this before…[Read more]

Terrific!!! Thank you all again.

For some reason I am a bit scared to buy in Frankston although I rather do that then go in the regional area. This is just me.
We have been in the subdivision business for a while and I think would be good for us to buy something for investment but I am much more confidant in what we have been doing.

Kevman, that…[Read more]

Thank you guys,

Unfortunately I have not found positive cash flow properties in Frankston but I will be happy even if it only pays for it self after of course when I pay the 20% deposit.
I am getting close to that figure.
It is just the fact that I am hearing from a lot of places that the prices in Frankston are yet to go up but I am also aware…[Read more]

I just read all your responses and just felt to quickly answer.
I did say that at the moment positive cash flow won’t be at any benefit to us is simply because our income is already too high so let’s say we have 1 IP cash positive bringing us 50 a week we will only see 25 of it with no or little chance of bringing us any capital growth in…[Read more]

Thank you all guys,

I did check it and it turn out to be more like a hotel accommodation and the corp. fees are high so it is not for me.

Regina,
In regards of subdivisions, we do the same. I just thought that would be good not to put all eggs in one bucket.
As you know it is very difficult and time consuming with council and thinks but the…[Read more]

I will investigate this further.
Just today I really thought of buying something like that in the city.
Everyone is saying that apartments in the city are not good investment at the moment as the prices are expecting to fall.
Is that really the case, not sure? I don’t think especially with the cheap once.
What are your thoughts on that?

Maggie

Thanks,

The property is studio apartment.
The price is $115 000/$120 000.
Rent $184 per week.

Maggie

Forgot to add:

Do you take into account the stamp duty, solicitor’s fees insurance rates and so on, when you calculate.

Maggie

Hi Richmond,

Thank you for your input.
I know that return is good by looking on the price and compare it with the rent. If the rent is enough to cover the interest and all associated cost I am happy with it.
It was not clear to me if the yield % is before you pay tax or after.

Thank you anyway

I don’t believe the brokers are aware of all possible loans out there, and think that they push and recommend only the banks that they are accredited to work for.

In our case the broker even misled us about the ANZ package told us wrong details.
I think like in everything else they are good and bad once operating.

Good luck
Maggie

Hi all,

Well it is over!!! I am exhausted and I am nerve wreck but glad that it is over and the price well I think if we had passed in (the unit) we would not have gotten better price later.
Initially the agent said he will try to sell it for $370 000/380 000. No one else told us they can get such a price we ended up selling for $359 000 which…[Read more]

Thank you everyone,

I will definitely explore all possible way of at list speaking out about it.
It is an unethical and unmoral the way all agencies operate. What a terrible way to make a living.
What upsets me more is his ignorance he does not care not a bit if we a happy about his service or not.
I feel he simply walked all over us without any…[Read more]

Hi everyone,

What exactly this meeting at Swinburne will be about? What topic?

Cheers