mattnz started the topic Help with 1 RP Data Search in the forum Help Needed! 5 years, 8 months ago
Hi, I am hoping someone with access to RP Data or similar may be able to assist me with a one off search to find out the name of the owner of a property on Gold Coast. Thanks! Matt
mattnz replied to the topic Valuers Pain ! in the forum Help Needed! 11 years, 3 months ago
Why didn't you use a different bank first time around that would accept the higher valuation?
mattnz replied to the topic Help > Vendor finance in the forum Help Needed! 11 years, 3 months ago
If they are poor tenants, I wouldn't consider selling to them under vendor finance.
mattnz replied to the topic Multi-apartment development – should I? in the forum Value Adding 11 years, 3 months ago
As a first development, 18 units is far too large and with limited capital you would likely get yourself into trouble.
Even if you were to get a DA approval and onsell the project, you still need to ensure that the profit margins stack up for the eventual developer based on the design that you get approved.
In this scenario, you still need to be…[Read more]
mattnz replied to the topic RP Data and Price Finder in the forum The Treasure Chest 11 years, 3 months ago
You can get free trials of both services and discounted group memberships at my site http://www.smalldevelopments.com.au
mattnz replied to the topic geting out of a property deal in the forum Help Needed! 11 years, 5 months ago
So is there a sunset clause that is for 18 months?
mattnz replied to the topic RESULTS Mentoring Program… in the forum Help Needed! 11 years, 5 months ago
I haven't done the course, but know people who have.
Unless you have money to invest during a mentoring programme, you probably aren't going to get the most out of it. A lot of the value is in having access to experienced people to assist you with investments at the time you are making them.
mattnz replied to the topic Foot into Development in the forum Value Adding 11 years, 6 months ago
About to go into Beta testing in about 2 weeks, official launch early August.
mattnz replied to the topic Foot into Development in the forum Value Adding 11 years, 6 months ago
Hi Nathan,
I started small and recommend the same for anyone else as well.
I have created a series of videos which cover the types of developments that I would suggest you start out with (and how to use RP Data to find them)
1. 2 lots on 1 title http://www.youtube.com/watch?v=perF03avcZw
2. Corner blocks…[Read more]mattnz replied to the topic Buy, reno sell… what am I doing wrong in the forum Creative Investing 11 years, 7 months ago
I would suggest doing a buy renovate and subdivide, especially in Brisbane, where there are great opportunities to find 2 lots on 1 title.
I have created a video series exploring some of these opportunities, this is the first one http://www.youtube.com/watch?v=perF03avcZw
Note that the website mentioned in the videos won't be live for another…[Read more]
mattnz replied to the topic National RP Data subscription with Investor Group in the forum The Treasure Chest 11 years, 7 months ago
Hi Geddo,
I have sent you a PM. The opportunity to join is available on an ongoing basis.
I can now also offer a free 3 day trial for anyone who is interested, just PM your email address and I can set it up for you.
Cheers,
Mattmattnz replied to the topic National RP Data subscription with Investor Group in the forum The Treasure Chest 11 years, 7 months ago
You can join at any time, there are no limitations. It is a national subscription.
I'll send you a private message with the full details including subscription price options, which are significantly lower than the normal rate you would pay.
Cheers,
Mattmattnz replied to the topic Finance for first time developer in the forum Just sent you a PM. 11 years, 8 months ago
Just sent you a PM.
mattnz replied to the topic Finance for first time developer in the forum Finance 11 years, 8 months ago
Only if you can demonstrate serviceability. They will only allow around 75% of your rental income. Are your properties still cashflow positive after you refinance the $300k? What would they rent for in worst case scenario? Is this also cashflow positive on the cost to build?
Its normally around 65% GRV and net of gst, also based on the valuation…[Read more]
mattnz replied to the topic Finance for first time developer in the forum Finance 11 years, 8 months ago
When you say $300k in equity, are you referring to equity that you can redraw, or total equity stuck in properties, that you would need to sell to extract?
i.e. $1.5M in property with $300k equity you can't accessDo your numbers include interest payments and gst on the sales?
mattnz replied to the topic Vender Finance in the forum You want the interest rate to 11 years, 8 months ago
You want the interest rate to mirror your loan with your bank. Don't set it at 6.8%, as if interest rates hit 9% again, you are going to suffer a huge loss.
Set it at Standard Variable Rate for your bank plus x%. In the deal that I have, it is 1.5% above the SVR of my bank.
Make sure that the borrower gets independent legal advice from someone…[Read more]
mattnz replied to the topic Option Agreement in the forum Help Needed! 11 years, 8 months ago
As a developer, I am probably biased, but that sounds great from your perspective. You get to pay off your mortgage,have more cash in the bank and keep the house.
Just check that the deposit is non-refundable. Some of the options strategy gurus advise their students to offer deposits that are fully refundable if they don't proceed.
Obviously get…[Read more]
mattnz replied to the topic JV on Commercial build ? Advice ? in the forum Commercial Property 11 years, 8 months ago
$800k build sounds really low to me. This calculator estimates $1.3M incl gst for a low spec build of that size http://www.washingtonbrown.com.au/building-cost-calculator/
mattnz replied to the topic cheap builder, 2 townhouses Melbourne in the forum Help Needed! 11 years, 8 months ago
Look into Dixon Homes if you want a bargain basement build cost
Here is an example http://202.131.91.250//newsearch/designs/details.aspx?LID=3150PHC9&DID=DC6001
mattnz replied to the topic Subdivision easement in the forum Value Adding 11 years, 8 months ago
What are the side setback requirements for building in the area?
Can you run the easement down the length of a driveway, in which case it won't impact you?
18m is a decent width and you will still have a large 800 sqm block to work with. Unless they are building a mansion, it shouldn't be an issue. Plenty of building plans will fit on ~15m…
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