hi beedie,
whenever i’ve decided to do anything – the market is not just right. i’ve now decided things are not ever going to be exactly right. so now is as good a time as ever…..i hope
i have 500k for everything. buying property, building, etc. anything above and beyond 500k i have to borrow. so i guess finding out exact costs is critical as it will tell me how much i need to borrow and which bank will trust me with that much money.
ok can you please tell me what is a DA site? and what does B.A costs stand for?
i’ve tried to look at everything that could be DA and BA and can’t work them out myself.
all your other suggestions are great. ie. house removal costs…would not have crossed my mind otherwise.
is there like a magazine or a book that gives a list of items i should consider before jumping on the developing wagon?
oh my god thank you soooooooooo much to everybody. this is great.
i’m taking everything in like a thirsty sponge.
initially when i decided to do property development, i thought to myself what’s the big deal. buy a piece of land and build a few townhouses on it. but now, the more i know, the more i realize how little i know. there is a sea of information out there. it’s sooo hard to sift through it and decide what is good and what not and especially what is relevant to my situation. so my hat goes off to the people who are already doing it. coz now i know this isn’t as easy as it looks at first.
yeah maybe 4 properties is a bit of a big project. but i thought since i’ve got 500k the bank can lend me the rest. i haven’t done my homework at all. i have no idea what the townhouses will cost in real terms. i’m just putting figures together based on other people’s estimates of similar projects. and what the real estate agent is telling me.
i’ll start taking this a little slower i think. and a bit more serious. this is hard work. but so exciting. love challenges. and this is one of them. i know i’ll succeed. i’m not being smug or anything. but gotta stay positive right?
thanks again everyone.
if you have anything else to add, Please Please do so.
Cheers
S
i can only wish the domain in question was emex.com.au – i would give it up in a heart beat. no problems.
unfortunately it is not.
i don't know if it would be wise mentioning the domain here but let me give you some facts on a hypothetical domain name – let's say it is NiceDay.com.au….
the facts (and a timeline) are:
1. 2003 – they have a trade mark in class 16 for "Nicer Day" 2. Early 2003 – they brought out a Newsletter called "Nicer Day" 3. Late 2003 – I registered the domain NiceDay.com.au (at this time i did not know there is a Newsletter called "Nicer Day") 4. Mid 2005 – I applied for Trade Mark in class 35 for Niceday.com.au 5. Mid 2006 – They registered their Domain "NicerDay.com.au" 6.Early 2007 – I launched my Website "NiceDay.com.au" 7. Late 2007 – They launched their Website "NicerDay.com.au" 8. Late 2007 – They offered to buy my domain for 10k 9. I refused (as i have spent a lot of money developing and working on it) 10. Early 2008 – They applied for Trade Mark of "Nicer Day" under class 35 (which is deffered as my application is ahead) 11. 3 weeks ago – they asked me to hand over my domain and pending trade mark application free of charge as they say i am breaking all these laws such as the trade mark law, misleading and deceptive conduct, etc.
i hope you can shed some light on this for me. I have a lot of traffic on my domain because mine is the correct spelling and theirs is a mis-spelling of the words involved.
thanx mortgageman,
good advice.
do you know of any draftsman that does the sketches for a few hundred coz i’ve spoken to a couple and they all charge around the $4000 figure for a one unit sketch.
and if you could direct me to a planning consultant that would be great.
all universities offer their courses through distant education. its done thru open learning and you can get more information by calling any business school of any university or by visiting the website: http://www.ola.com.au
good luck
ps. accounting is very difficult (for me anyway)[cap]
i must be missing something here.
when i first read calron’s initial post about private funding sites…i was infact VERY interested in replies…coz that would have helped me get some ideas too – in regards to financing properties through means other than the usual bank loan – instead, this is turning into a debate about whether it was advertising or not.
having said that, i am still interested in finding out how to get funding through other channels if an opportunity should exist which would benefit all parties involved. whether you brand that as advertising or not – bottom line is it is beneficial to know something like that.
Love is a funny thing.
…
NP. However the one before her was a shocker! She fell off the biggest ugly tree in the world and hit every bloody branch on the way down!
[biggrin][biggrin][biggrin][biggrin]
that is sooooooo funny.
biggest ugly tree.[biggrin]
and hit every branch on the way down!
[jerry][thumbsupanim]
we let them get away with it, because we forget. and they know we forget. so they continue doing what they were going to do anyway. its a cycle.
and even if we remember what they had promised, yet deliver something else (ie. GST), we jump up and down for a while, then settle down because another issue has taken precedence. who feeds us the other issue? they do.
i’m not politically involved at all, but things like this tend to stick out a lot.
that john howard site gave me a big wake up call. politicians do ANYthing and then lie themselves out of it. and we just accept this because it has been repeated so often, we consider it the norm.
why should we accept some liar as our leader? i think that a law should be passed, where we can vote a Prime Minister out (during his leadership period), if he has been caught lying or has been deceitful to the people who voted him in.
i started paying 7% initially then negotiated it down to 6% and now to 5%. my agent tells me they can lower it further, if i have more properties to rent out. and i’m talking about melbourne victoria.
how can i contact somebody off the forum? i want to ask tim barret some questions regarding building. tim, if you are reading this, can you please email me on [email protected].
thaaaaaaaaanx. []
quote:
Im a TV Producer with a pashion for property!
Ive been investing in property for a few years, but because it was mainly on a negative gearing basis Ive been wondering until recently how I was ever supposed to stop working and reep the rewards!
Now im focussed – Cashflow positive property. Ive sold off almost all of the neg. ones!
Ive also been doing some more active property investing (small scale developing) as it’s the easiest way Ive found to extract $ from property in the Sydney market. Im current project is 6 townhouses on 2 blocks in the Dundas Valley.
Great to hear all your stories!
I havent been a ‘net forum’ person but this one is terrific.
i am doing this in my subject at uni which is law of investments and financial markets. we are advised, that when operating any business, and i believe holding IPs is included, you should set up a company with a discretionary trust within the company as trustee. this is the best way to minise tax.
i haven’t read anybody else’s posts so maybe somebody suggested it already….but how about selling this house, buying one for half that price and investing the remainder.