Forum Replies Created
- jazz77 wrote:If you dont have a builders licence you will have to go owner builder.
You cant do multi unit work as an owner builder anymore.Yes you can. For example, buy a block with your brother/sister etc. You can owner build 2 dwellings on the block where each individual has one each.
Don't forget to call the relevant water authority to determine if there are any flood overlays.
Oscar
Derek wrote:Not a broker.Always use a broker because of their;
1. Knowledge.
2. Tailor made finance package.
3. Loan structuring.
4. Access to multiple lenders.
5. Focus is on customer's needs and not the bank's need for security.Always???? I don't think so. I've had better outcomes, especially with development loans, going direct. All 5 points you have mentioned can be achieved by ones self when armed with a bit of knowledge.
DWolfe wrote:Anyone got any experience with this. A few REA have been rattling on about DHS (Vic) buying up large sub-dividable blocks, or whole blocks of units etc in areas. Anyone heard this rattle?My question would be, does this mean I have to compete with Tom, Dick, Harry and KRUDD to develop? Does this work in a plus that I can flog off presales to the govt?
Just curious.
D
DHS buying is over for the moment. Stage 2 buying needs to settle by Dec 2010.
I'm in the process of building 3 units for them in Warragul. They found me the site and got the planning permit for me in 4 weeks. Council had very little they could object to. Having said that, it did comply with Rescode.
Cheers
Oscarkeiko wrote:Hi quick and simple answers,Which bank is the best and why?
ANZ
ING
Bankwest
Bank of Adelaide
NAB
Don't forget Bank of Queensland. They are great, especially for development loans.
Cheers
Each council is different. Start by calling them or a local surveyor.
Buy below market value, rent out at market value or slightly higher with a few creative techniques (not difficult).
Worth buying? Well thats your opinion. The above strategy is fact which I have completed many times this year and as recently as last week. Hard? No! Easy? Not as easy as picking an apple of a tree.
Good luck!
Oscar [biggrin]
Last time i checked it wasn’t up and running. It was a voluntary run site and i guess the volenteers just ran out.Way off there Richard. It still operates. Melbourne runs smoothly and is getting bigger and better. Check out: http://www.financewraps.asn.au/default.php
Nathan: Join up and if from melbourne come along. Its only $150 for the year.
Cheers
Oscar [biggrin]
Richard
I use Frank Libman. Very experienced and has done work with Steve. You can call him on 9888 6255.
Cheers
Oscar
Hi Steve
1. Discussion on development finance
2. Raising funds through equity partners
3. Discussion on the Psychology of investing.Cheers
Oscar [thumbsupanim]
coops t
whats wrong with buying property and then sitting on your arse and waiting for the value to rise? Easiest way to make money provided you choose well located properties with scarcity value and you are able to service the debt comfortably with appropriate risk management e.g. interest rates, vacancies.
Bill Zheng (finance guru) showed a chart with median prices for every 10 year period for the last 40 years. Averages roughly 10% growth pa. median price in 1994 was 144k. 2004 is 368k. 2014? over 900k!! Sounds bloody good to me as the future is just a repitition of the past.
Obviously adding value accelerates your wealth. But again I ask, is sitting on your arse and waiting for the value to rise such a bad approach?? Its worked for my family and friends older than I and will continue to do so in the future.
Oscar [suave]
cloudancer
“Thing is I do not intent to get out.”
easy answer….DON’T!
Oscar
Hi Marisa
Without knowing much about your future goals via property, I would be reluctant to sell a property which has grown above the avarage growth rate.
E.G. property worth $350k…annual growth rate of 9.5% = $33250 (on avarage). Surely this is far more than any maintenance required per year. That amount is also greater than $10k p.a too.
Why not consider redrawing equity to fund further purchasers?
Cashflow funds your lifestyle…equity makes you WEALTHY!![thumbsup2]
Cheers
Oscar
Giddo and foundation
Would you sell your own home if it went down by 10-15%?? I dont think so and nor will many others…INCLUDING wrappees!!
I take it both have not constrcuted a wrap deal???
Oscar [cigar]
PM me and i’ll put you through the finance person we use that allows wraps.
Cheers [aacool]
Oscar
Simon
They are really a marketing company more so now. Previously more accounting stuff.
I haven;t dealt with them personally, however, I know I can buy better property myself. It seems they play the ‘cashflow’ lines on overpriced property through depreciation and rental guarantees.
Oscar
Hi
If you are interested in JV’s for wraps/vendor finance transactions feel free to PM me.
Cheers
Oscar
Sonja
I have been dealing with Stuart for close to 2 years…fantastic guy!
I wouldn’t compare him with the guys on the seminar circuit…he makes his money by finding deals for himself and his chosen investor clients. The amount of deals he has going at any given point is just amazing.
I have completed a few deals with Stu and its been great.
I suggest you visit the website…
Cheers
Oscar
If people put the same amount of energy they put into worrying about interest rates to putting together DEALS, it won’t be a huge issue!!
You should put your more energy into things you CAN control.
As for interest rates, all you need to do is make an opinion and be prepared for any future movements…..not predict it.
Cheers [baaa]
Oscar
haz_obst
Can very, but generally the following:
1. 10-20% margin on market price of the property
2. 1-2% interest margin
3. as for repayments, it varies from area to area. i.e. market price on properties. I’m completing one at the moment where the repayments are $225 per week and the market price of the property is $115k.As Leigh suggested have a read through the past postings….there’s a wealth of knowledge to be obtained from it.
Cheers [cap]
Oscar
