Fair enough then.

Regards
Michael

i dont get it???

1. You know you will make 200k from this subdivsion ( im guessing from past sales etc)
2. You want to somehow get hold on this 200k BEFORE the subdivsion ? …?? from who? the buyer? the bank??

Regards
Michael

Maybe your speaking to NAB customer only

Every bank has their problems…It’s just a matter of finding the bank for YOUR needs at any particular one time.

Regards
Michael

Agree with Luke.

YEs +VE sounds good…but every property has it’s downside and upside- but each one has a part to play depending on your financial and overall strategy. Never buy JUST because you can afford to.

Without knowing much about the exact location, property type, rental type ( is it a commercial 5 x 5 lease?) , condition of the place, history of the area ,strata cost if any?– it’s hard to comment just based on “numbers”.

Example- you wouldn’t buy a car just because it’s cheap and the numbers works out would ya?

Regards
Michael

80% LVR is a bit high given it’s vacant land only- unless it’s located in a good region ( which i doubt from your description of the town lol )
If you dont mind me asking- whats the postcode ( PM/email me if you prefer).

Do you have another property? or would this be your first?

Regards
Michael

I can tell you a lot of ppl will tell you to buy the property 3 as it’;s +Ve( given the location ….) i won’t tell you which one to choose; but more consider the following, when deciding;

1. Your goal
2. Overall investment strategy( each buy should hold a purpose in terms of your overall strategy…not jsut based on the numbers…ie will you sell it? and when etc…)
3. Do you have any safety buffer ie unemployed for 6 month?
4. Age, dependents? married? want to get married?
5. Location of your buy?- good sign of CG?
6. CG-Tax?
7. Managment? do you lvie close by?
8. Any repairs/ renovations that needs to be done? Strata?
9. Vacancy- how stable are these rental income and what is the average rental vacancy period?
10…+ a lot more…

Regards
Michael

Yea it’s a slow market

Regards
Michael

I say talk to a valuer first-because spending $20k on a new kitchen or bathroom- as spending 20k may not = $20k in value in terms of equity/valuation.

You be surprised….what you think is worth 20k is not the same as what a valuer may think.

your best to
1. know the rules of what a valuer looks for
2. play by the rules
3. Use the funds wisely

Sometimes a simple process of cleaning up the place and giving it life ( new paint) and more space, maybe change some vanity only + have some fresh coffee smell brewing o the day the valuers comes, brings a higher value then any physical renovations.

Regards
Michael

1. Stick with full doc if you can…not to sure why you think sub-contractor = low doc???
2. Need to know a lot more info to know how fine the serviceability is.
3. As bumskins mentioned- there’s a lot more involved then just “the basic numbers….you be surprised at how much cost is involved when all the small fee’s are added together- selling cost, advertising, CGT etc, finance, council,

Regards
Michael

Finance and re-sell cost ( capital growth); in Summary

– you need a deposit of 20%+ ( so no 90-95% LVR loans etc…); this drops down quite a bit based on size
– Good income and strong employment
– Rental will be discounted at 70% as a min
– Not all banks will do this sort of security
– Size- should be larger then 15 sq meters
– Configuration of the unit will play a part
– Valuation; need to have simliar unit sold in the last 3-6 month

Regards
Michael