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  • Profile photo of Property PassionProperty Passion
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    August 18, 2005 - 8:45 am

    knowing this could mean profit or no profit in a small development project, so do i go about working it out in advance?

    this might be a silly question, but if you never ask you never know.

    cheers

    Profile photo of Property PassionProperty Passion
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    August 18, 2005 - 1:31 am

    hmmm good to know

    Profile photo of Property PassionProperty Passion
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    August 18, 2005 - 1:23 am

    When looking at a development site, how do you project the…
    1. stampduty cost ?
    2. Capital gains tax ?

    whats the simple maths of it?

    kind regards

    Profile photo of Property PassionProperty Passion
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    August 18, 2005 - 12:52 am

    ok good to know, i guess i will learn a whole lot about the process in building this unit behind my PPOR, im sure im cut out for it! It something ive always wanted to do, just wish the whole council process was a little faster.

    been looking at a lot of properties latley and WOW there is a lot to consider when looking at building on them.

    easements, zoning, overlays, sewers, stormwater drains, big trees, front setbacks, land size just to name a few.

    yep definatley going to take some time to find a suitible property

    Profile photo of Property PassionProperty Passion
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    August 17, 2005 - 9:27 am

    count me in ! first meeting for me, should be interesting

    Profile photo of Property PassionProperty Passion
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    August 16, 2005 - 12:07 pm

    thanks for the input Rick, will keep that in mind

    Profile photo of Property PassionProperty Passion
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    August 16, 2005 - 11:52 am

    i’d love to be doing these sort of deals one day!!

    how long did it take you all to get to this position, where your able to make these sort of deals ?

    Profile photo of Property PassionProperty Passion
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    August 16, 2005 - 11:38 am

    im thinking about doing it myself, not sure if i will be able to as the bank has made it clear that its a little harder to get a loan when your an owner builder, but yes its something i am considering. Not 100% sure which way to go yet. Need to get the drawings and permits done first i guess.

    Profile photo of Property PassionProperty Passion
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    August 15, 2005 - 6:31 pm

    that puts a smile on my face, good to see she enjoys property so much [biggrin]

    Profile photo of Property PassionProperty Passion
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    August 15, 2005 - 12:10 pm

    yeah, im going to stick with him, he seems that he will do a good job, and have seen some of his work which has impressed me.

    thanks for the advice people

    Profile photo of Property PassionProperty Passion
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    August 15, 2005 - 9:30 am

    hmmm this is quite true, and and now looking at intrest only loans as an option, i guess you learn all the time, thats why this forum is so great.

    cheers

    Profile photo of Property PassionProperty Passion
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    August 11, 2005 - 5:32 am

    yep i realise thats an important part of investing.

    thanks for all the above advice

    Profile photo of Property PassionProperty Passion
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    August 11, 2005 - 4:26 am

    your doing great at 22 to have 2 IP’s already!
    i save deposits the old fashioned way. SAVE SAVE SAVE! i find that the most effective way. Im sure there are more creative people that have other ideas [biggrin]

    Profile photo of Property PassionProperty Passion
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    August 11, 2005 - 4:22 am

    you can find out pretty much anything about a property in another state if your reaserch it enough. It something i havent done before but there are many others who have taken the leap interstate.

    why dont you look for great deals in your state ?
    bottom line is that if you are really serous about a property interstate, it might be worthwile spending a few hundred dollars going there and taking a more hands on approch. It could save you a lot of headaches and money

    cheers

    Profile photo of Property PassionProperty Passion
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    August 11, 2005 - 1:59 am

    ive never heard of such a thing, remember to always state that your purchase is subject to finance !

    Profile photo of Property PassionProperty Passion
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    August 11, 2005 - 1:53 am

    you know ive been thinking the same thing as i am also in the process of buying a new home. There are 3 properties on one street and i have contacted the agents to get some basic info on the properties. They are advertised at mid to high 300’s and im planning on offering 310-320k.

    A wetherboard home just sold a few doors down that i missed out on at 320k. so i base my price on that and hopefully not buy too much over that value, as the other homes in the street are Brick as opposed to timber.

    my strongest suggestion is that you start LOW and i mean low, and make sure that the agent doesnt dismiss your offer there and then as they tend to do that alot. Get the agent to approch the vendor, even if it means putting it in writing.

    remember you can always make an increased counter offer, but you will never be able to bring down your price

    hope that helps rabprop

    Profile photo of Property PassionProperty Passion
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    August 11, 2005 - 1:39 am

    Ok now its starting to make a little more sense.
    Rick im very much like you in regards to finding it scary to NOT pay an IP off (at least some of it) but im starting to think that i need to expand a little and buy more than one property every 3 years. Maybe paying the intest in my IP’s and freeing up some money is the way to go .

    Ive seen many people over borrow nad then explode a few years down the track, due to bad management, intrest increases or unforseen circumstances. i dont want to be one of those people!!!!

    On the other hand i also want to step out of the square a little and push myself.

    cheers [biggrin]

    Profile photo of Property PassionProperty Passion
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    August 10, 2005 - 10:12 am

    GPS wayne and shake, thankyou for your advice, i really do appriciate it.

    just a couple of questions, firstly what are P&I loans and what are intrest only loans?

    Also if i dont try and pay of any capital, and just cover the intrest, yes it will free up some money, but IF intrest rates go up then am i at risk of losing the property, or at least getting myself in over my head?

    feedback would be great ![biggrin]

    Profile photo of Property PassionProperty Passion
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    August 9, 2005 - 9:24 am

    people keep telling me i want to do too much too quick. maybe there is truth in that but i guess i have a drive to do as much as i can. Although i appriciate your praise, what i wanted to know is how i can improve my real estate investing techniques. I seem to be buying a property every 3 years. What steps would i need to take to be able to buy more properties more frequently ?

    If there are others that invest more frequently than this id like to hear from you .

    cheers

    Profile photo of Property PassionProperty Passion
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    August 8, 2005 - 9:09 am

    lots of people talking about USA. maybe i should check the place our instead of wondering what its like

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