PaperChaser replied to the topic 3-4 unit development. Query re: getting plans drawn up in the forum Help Needed! 8 years, 1 month ago
The zoning allows it to have 6 units, but the demographic contains a lot of seniors and baby boomers (Lakes Entrance, VIC) so I’m set on doing single storey units, which would be too small if I did 6.
I definitely note your advice, but I’m still happy to do 3-4, especially given my target market. I’ve done (conservative) calcs and it works out…[Read more]
PaperChaser replied to the topic 3-4 unit development. Query re: getting plans drawn up in the forum Help Needed! 8 years, 1 month ago
Probably a few factors for keeping it to 4 max.
For one, it’s my first development so I don’t want to go too hard too early. I see 6 as being more risky at this stage.
Secondly, the deposit would probably be out of reach for me, especially since commercial loans require a greater % deposit.
Thirdly, and I may be wrong here, but when I first…[Read more]
PaperChaser started the topic 3-4 unit development. Query re: getting plans drawn up in the forum Help Needed! 8 years, 1 month ago
Hi all,
I don’t often post as I can normally get the information I’m after just by browsing.
I do have a situation now though, and if this has already been discussed, feel free to point me in the right direction and close this thread.
Basically I have a block of land (1460m2) that I plan to develop 3-4 units on (depending if I can do 4 as res…[Read more]
PaperChaser replied to the topic Retirement Strategy While Still Negatively Geared in the forum Help Needed! 14 years, 4 months ago
What if I set the LOC up while I still have an income, have the interest capitalised, and then retire?Would the bank or the ATO find out somehow? and would they castrate me for doing it?btw thanks for all the suggestions, it makes me learn new concepts and ideas
PaperChaser replied to the topic How to aggressively build a portfolio in the forum Finance 14 years, 4 months ago
Thanks Terry, I’ve heard cc is a bad idea so I didn’t want to accidentally do it without knowing what I was doing.
On another note, I have a question regarding retirement strategy. Seeing as though it’s kind’ve off topic, I’ll start a new thread:
https://www.propertyinvesting.com/forums/property-investing/help-needed/4332743
PaperChaser replied to the topic How to aggressively build a portfolio in the forum Finance 14 years, 4 months ago
Thanks Richard, your answer leads me to another question regarding cross-collateralisation.From what I gather from your reply, if you get a second IP financed thru the same lender, the loan just gets bigger rather than having 2 seperate loans. Is cross-collateralisation when you access equity from that loan for a 3rd IP, regardless of who the 3rd…[Read more]
PaperChaser replied to the topic PPOR to IP – claiming new A/C and dishwasher in the forum Help Needed! 14 years, 8 months ago
too easy, might go do some shopping.
Thanks
PaperChaser replied to the topic Purchasing IP as a trust/company/individual in the forum Finance 15 years, 2 months ago
yep good idea Terry, I’ve just found out there’s no stamp duty in WA for FHB up to $500K so I think I’ll be doing that.
Sorry to get off topic, I’ve got a few questions but I’ll open a new thread. Here’s the link…..
https://www.propertyinvesting.com/forums/property-investing/help-needed/4328898
PaperChaser replied to the topic Purchasing IP as a trust/company/individual in the forum Finance 15 years, 2 months ago
I’m pretty much in the same boat Emma, except no PPOR due to being in my 1st year out of uni. I’m saving 4K p/m so like yourself I’m looking to buy as many IPs as I can.
After reading some Kiyosaki books I’ve been trying to get info on starting a corporation so that the +ve cashflow can be used to buy more IPs with pre-tax dollars. Judging by…[Read more]