Then if worst comes to worst go to a non-conforming lender, if the figures work for you. They charge a higher interest rate, depending on circumstances.For example Liberty start at 6.99% approx and can go up to 10% or higher, however, this is normally for customers with major credit default issues.

Just hang in there, it’s only early days yet.…[Read more]

Definition of small;

Some lenders; 4-8 units, 10-20 lots of land (still for the inexperienced a good project manger will go a long way)They will start to look closely when loan amounts go over $1.5m for inexperienced, although is still possible to go higher.
My suggestion; start off with 4 units, the next do 10 lot land, then jump to 8 units and…[Read more]

Try this link;

http://www.infochoice.com.au/banking/calculate/flash/stamp-duty.asp

That will help you out with stamp duty etc.

There are lenders and private also that will fund more than 100% of development projects – Gross Realisation, is the term as mention previously, by others.

However, to elaborate a bit further, some of these lenders will fund this amount to people with no experince in developments. So if you are thinking of starting developing or don’t have the…[Read more]

Another point;

Depending on the lender, even though the marks on credit files come off after 5 yrs, 7yrs bankruptcy, they (lender)can still see the marks on your file, even though you can’t (if accessed publicly etc.).

Reason being; they pay big dollars for access to files that date back up to 15 yrs.

So, don’t go saying you didn’t have a…[Read more]

Well, I tend to agree mortgage advisor, however
Richard, just trying to get something for free!

Oh yeh, I’m not using put & call on properties from mum’s & dad’s, it’s for excatly what you use them for, development sites.

I have done many of these.

There are also a few other tricks, that may assist you also. Email me for details.

Anyway to answer your questions

1. Didn’t realy find the seller, just asked every seller for the properties that was being purchased.
Sweettalking – none really, just explaining it clearly and having it all prepared by a solicitor.
I…[Read more]

Thanks Ibuycashflow. Do you have any contracts or documents, for examples, that you may be able to forward to me? Or know where to get them.

I am wanting to purchase a few properties and on sell using this method.

I think both of you are have valid points, however also a little uninformed.

Firstly, I admire your direction and determination for having your eye on your goal. Especially, after copping some flack on this site.
I think everyone here wish they had started as young as you (even if it is gaining knowledge and not doing the practical side…[Read more]

Agents need to abide the local laws in regards to signs. So call the local council, and ask what is the time frame they are allowed to be there!
If it’s gone past the allowed time, complain or rip it down.

If it is in the allowed time frame, get some local drunks that walk past in the middle of the night to have some fun with it!

Thanks for the feedback!

Mel,What is Bernad’s returns?

Mel, funny you mention they can do more than one deal.

A developer in particular has increased his projects to $120m in a relative short time.

The link is below, if you would like to check out, one particular developer, I was considering to invest…[Read more]

What your talking about is already being done.

However the company doing it works like this.

Company pays for renovation (let’s say $10000). Their fee is 100% ($20000). Registered as a second mortgage($20000).
When vendor sells, company recieves fee at settlement, vendor recieves the surplus.

Documents are drawn up giving the vendor 6 months to…[Read more]

Some of the best deals currently;

LOC: 6.69% – 7%

2yr fixed: 6.69% – 6.89%p/a
4yr fixed: 6.99% – 7.09% p/a

Standard Variable: 6.8% p/a
no ongoing fees
$600 application (can be waived in certain circumstances)
Interest rate can be negotiated or buy your interest rate to low as 6.45%p/a* terms and conditions apply

Top rates – 6.45% – 6.83%…[Read more]