Originally posted by JULES1:
I also thought it was a bit strange that the Bank would not provide the loan based on the great deal that this looks like being. I don’t really want to provide the full sum up front and wait until the subdivision before I can sell.

But the land really looks good. So I don’t know what to do

Jules1[blink]

I can…[Read more]

Originally posted by JULES1:
I have the opportunity to buy land which will be subdivided. However I have to fully pay for my block which I can see on the subdivision plans, before the subdivision and infrastructure are put in place.

I am thinking of buying a couple of blocks.
I know I will make a profit on the land when the subdivision is…[Read more]

I can give you the names of some great property lawyers in Melbourne and Gold Coast.

One’s who understand property well and I have reffered many clients to – and they ahve been happy.
Sorry I or am not prepared to give their names on a public forum (to protect them) but ssend me an email and I would be happy to pass on their details.…[Read more]

Originally posted by Ricksters12:
Hi Mortgage Adviser and HolderCommodore,

Thanks for the reply. The site was very informative.
Holden, are you sure about selling property in melbourne dont require license if not getting commission?

Regards

Rickster12

Anyone can sell their own property and you could sell onefor your sister as long as you…[Read more]

Originally posted by Sonja:
Hi Michael,

Perhaps I heard it from you at the Reno Kings seminar in November? It’s not something I’ve personally used and I suspect that with your reputation as a frequent buyer you may have more luck getting it accepted than I would. It’s definitly worth being aware of though.

Cheers
Sonja

Hi Sonja

Youa er…[Read more]

Originally posted by AusProp:
Originally posted by Sonja:
I recently heard something along the lines of “subject to approval by purchasor’s solicitor” which I quite liked the sound of. It doesn’t sound too long winded or list lots of conditions that may make the vendor baulk but it gives VERY broad protection.

Regards
Sonja

I saw this the…[Read more]

Originally posted by The Mortgage Adviser:
Hey, good info.

One question, why are there two websites for the same thing or did I miss something?

Simple answer.

The old web site was http://www.metropole.com.au It’s almost 3 years old now and needed a face lift.

You caught us in the middle of the change over

We have just been upgrading the old site…[Read more]

Originally posted by Rebecca2:
Thanks Yack,
Thats what my hubby said. Bugger I hate it when he is right.

Beck.
“You have to leave your mouth open for a very long time before a roast chicken flys into it.” Early Proveb.

Maybe you were right after all.[biggrin]

But then I am biased, because Pam my wife runs Metropole Property Management…[Read more]

This is something I see many clients initially suggest as they think it decreases their funds required for a development as they don’t have to fund the land.

The problem is this rarely works.

Lenders won’t fund the development as they can’t mortgage the property as it is being built, since it is on someone else’s land.

Also if you don’t have…[Read more]

Originally posted by persistence:
Can anyone tell me how I would find out what the value of a block of a particular block of land is? This block currently has a v run down house that I want to demolish and I am trying to work out what to offer. There are no other vacant blocks in the area that I can use as a comparison.

It’s in Victoria.

Any…[Read more]

Originally posted by Piper:
Hi. Could anyone who has excellent Property managers working/ acting for them in Inner City melbourne,vic, recommend them for me to talk to- to look after a property there/ Also(2) What are the general costs and charges that these PM charge?
Property is a private dwelling . Tks /Piper

My reply may be too late as I…[Read more]

Originally posted by Ambo72:
Hi all,

On many of the advertisements I have seen for commercial property, it often mentions outgoing costs. What exactly is included in outgoing costs and what are the tenants of a commercial property responsible for paying?

Thanks,
Ian [?]

Tenants of commercial properties usually pay all outgoings which include…[Read more]

Originally posted by Rugbyfan:

Thanks Michael for your advice, call me silly but I am going to go out of my comfort zone and give it a go. My father in law has done a few dual occ’s so I will be getting some advice from him, but I really wanted to do something a little different to the usual.

I see that buying +ve cashflow prop’s will be harder…[Read more]

We have been running a series of articles on property developing in our monthly newsletter that may assist you. As my company is currently involved in 65 individual development projects around Melbourne, I believe we are in a good position to advise on proeprty development.

Usually development costs are based on a cost per sq mt as you suggest…[Read more]

Dale is a great accountant and understands property -well worth the trip.

You probably will only need to see your accountant once or twice a year. Most routine questions can be answered over the phone or by email

Michael Yardney
Metropole Properties
http://www.metropole.com.au

Lenders won’t lend to your trust as it is not a legal entity -they will lend to the trustee company, using the property as security. As the trustee is ususally a $2 company they will request you guarantee the loan unless you keep the loan to value ration under about 60%. This way they feel they have sufficient security and may not ask for a…[Read more]

quote:
I suggest to keep things simple, Fullout.

There are two kind of options.

A simple one page option which just details the property, a price and a time within which the option should be exercised etc. (which your solicitor will say about that it isn’t detailed enough).

Or an option created by your skillful, knowall, theorising solicitor…

[Read more]

quote:
Hi all,

Just hoping some of you might be able to give me a couple of names of financial advisers / accountants in Melbourne or the western suburbs (ie. Altona) that specialise in property investing? Michael Yardney (thanks Mike!) has been very helpful in finding me a solicitor and I’m looking for someone to help me with the financial…

[Read more]

quote:
I Look in the sunday age
and the sunday sun
all the reported ones are listed there

What I meant was look at Sturday’s Age and see which auctions were listed for that day. You will find many of them will not have results reported on Sunday

Michael Yardney
Metropole Properties
http://www.metropole.com.au

quote:
how can i find those properties that didnt sell in auctions?
I read in the newspaper that the auction results and ratios are not accurate, since the agents dont report the aucts that didnt sell.

Fullout

It makes sense to look for these properties as when you find them you will almost certainly find a motivated vendor who has had the…[Read more]