Forum Replies Created
Hi John,
I think what is meant is that instead of immediately entering into a Contract of Sale what will happen is that the owner of the land sells an Option to Buy to the investor whilst the same investor sells an Option to Put to the investor
(which allows the owner to force the investor to buy the property in the event the investor doesn’t exercise his Option to Buy).The ultimate outcome is that using this strategy the situation is just as if the two parties had entered into a Contract of Sale.
The advantage to the purchaser may be at least twofold :
1. he doesn’t have to pay the stampduty on the purchase immediately
and (possibly)
2. if the Option is held by a fresh company the investor may be able to sell the company and thus achieve that a second lot of stampduty is avoided. (there are some doubts in my mind as it looks to me that this would be a case of evading rather than avoiding to pay stampduty).
Pisces
>>im getting tired and must sleep..<<
Have a cup of coffee and you will be bright as a spark and wide awake George.
Pisces
Shaun, you are aware aren’t you that you need Council consent to use your land for that particular purpose ?
Pisces
>>There is the possibility of building ONE additional property at the rear of (either) his or my house, however if both properties are pulled down, following subdivision, council will most likely allow the construction of units.<<
Perhaps it may be possible to build another dwelling at the rear of e-a-c-h of the blocks by using the one driveway for both of the new dwellings. To a great extent it very much depends on whether there is room at the rear of each block to fit another dwelling and whether there is room for a driveway between the two existing dwellings.
What makes me think it is a good site (or opportunity) for development….size, location, and just because I want to??????
If it isn’t zoned for medium density at the moment what reason would you possibly have for thinking that in the future Council may rezone the area ?
If you talk to the chief townplanner he may possibly, if you read in between the lines, give you some clues like : “We are working right now looking for suitable locations as we do foresee a need for some further medium density rezoning” and (when you ask what criteria he uses he may well say something along the following lines) “Normally we would look for land close to the station or close to the shops etc”
It would, in my opinion, be worth it to employ another townplanner to do the talking for you as he speaks the same language as council’s planner.
However, the way you are talking it appears as if council may already be in a position to approve a medium density development.
If that is the case what about being prepared to pay the full price to the neighbour provided he gives you time to put a plan into council (by way of granting you an option to purchase).
There isn’t any need to go into great details filling the neighnour in as to what exactly you have in mind to do.
Having sufficient time (to prepare a plan and for Council to deal with your application) and no real commitment to actually proceed with a purchase, you eliminate a lot of the risk.
Cheers,
Pisces
George, if you are or were thinking about a coffeeshop I know one particular shop in Sydney where the coffee is the best in the world. (no kidding).
Really nice and smooth.
The man who runs it roasts his own coffee and everytime I go there I think ‘what a marvellous opportunity to start selling franchises using this 65 year old man’s ideas.
I can see the opportunity but unfortunately I haven’t got the energy to start such a venture.
Hey, it looks as if you may well come to Sydney to have a look at this shop. What a marvellous opportunity for Kay and myself to take you up on that dinner invitation. [biggrin]
If you do I can tell you one thing, you will be the winner as this particular coffee shop is mindblowing. The product cannot be surpassed.
Pisces
There is another thread actually started by George :
https://www.propertyinvesting.com/forum/topic/9432.htmlI really think they should all be amalgamated under the thread https://www.propertyinvesting.com/forum/topic/5255.html
Mr Moderator, where are you when we need you ?
Pisces
>>Nijntje? <<
Celivia, it looks to me as if that author had a speech problem and left the ‘K’ out of the word.
So to me it is and always will be ‘knijntje’.
BTW Westan, How come someone who is so capable in finding suitable cashflow +ve properties cannot work out how to find the avatars ? [crying]
Pisces
Sounds to me like being in the same category as being the boss of the Mafia.
Plenty of power but where is the glory ?
Pisces
Is it possble to create a second block ?
Is it possible to build a second dwelling (no, I mean Is it possible to build TWO additional dwellings) at the rear under the Dual Occupancy Act ?
Jo, I note that you haven’t as yet addressed my question as to what makes you think the site could possibly be rezoned for medium density in the future.
Pisces
But I thought that often an exploration company
may drill perhaps as many as let us say six to ten wells in the same area, so too bad if one sinks $ 3 M into a dry area only to miss out on the right spot because one’s bank has only sufficient money to drill only the one hole.Pisces
Hi Jo,
You haven’t really told us how big the land is and why you think it could become a development site.
He may well not have given a sole agency which means that he is still able to sell it to you pivately.
At the very least )if you want to proceed) obtain a building inspection report so that you can use this to negotiate the price downwards.
Same goes for a valuation.
Cheers,
Pisces
Aceyducey, someone told me that you are contemplating franchising the oil well drilling business. [wink]
Is that true ?
Pisces
Thanks, Kay.
Pisces
Just someone’s opinion.
The economists just don’t have a clue either.
There have been occasions where the rates were raised only to be lowered again a couple of months later.
Ask 10 economists and you’ll get 15 different opinions.
Some of the soothsayers talk from the corners of their mouth, talking in riddles so they can claim they predicted whatever comes about.
What nonsense, a 15% chance of something coming about. What rot.
Pisces
>>Please drop, please drop, please drop… I want to see blood on the streets!!!<<
Lucifer, are you a ghoul or a vampire ? [cap]
Pisces
Let us hope that ‘the mob two blocks away’ doesn’t steal your idea and sets up in competition. [grrr]
Cheers,
Pisces
Well that’s very nice of you to say that George.
I actually phoned Kay and drew her attention to your post and said to her that we probably can get a free dinner out of you.
She, being the smart girl she is, replied that, as you live in Victoria, she thought that there was very little likelyhood you would throw in a free Virgin flight as well. (?)
Regards,
Pisces
>>ps – if you dont wanna give a dollar to a beggar go buy him/her a sandwich!<<
Ever so slightly diverging from the topic, the above reminds me of something that happened to my wife.
She went into Kings Cross railway station, only to be accosted by a young man asking whether she had a couple of dollars to give him so that he could buy something to eat.
Well, she knows better than to start digging into her purse only to have it snatched from her.
So she replied : “I haven’t got any money but you are welcome to share my sandwich.
The hungry young man replied : “What is it”
When he learned that it was a wholemeal sandwich
with salad on it he said : “No, I only eat white bread with peanut butter.” [smiling]Pisces
don’t think you are for real Donchristie.
You sound more like a Jenman or Bec type person trying to get someone to say something favourable about your suggested illegal fraudulent method so that you have something to write about.
Not that I would ever think that Jenman or Bec themselves for that matter would get up to such dirty tricks.
I guess we will find out by the time you have posted your 100th post.
Pisces
>>Probably the other thing to think about is moving costs, or what it may be like to live in a house where you can’t use the bathroom for however long!!<<
Beggars cannot be choosers.
If one wants to make money fast (well, as fast as possible) then one cannot avoid having to put up with the inconvenience of living in a house which is in a constant state of upheaval because of the renovations required.
Cheers,
Pisces
