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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of Suri007Suri007
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    @suri007
    Join Date: 2012
    Post Count: 21
    December 23, 2020 - 12:46 am

    Thanks Benny!! Your suggestion helps a great deal in fact :)

     

    Profile photo of Suri007Suri007
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    @suri007
    Join Date: 2012
    Post Count: 21
    June 30, 2020 - 10:39 pm

    Thanks Terry!! Hope you’ve been well :)

    Profile photo of Suri007Suri007
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    @suri007
    Join Date: 2012
    Post Count: 21
    July 2, 2018 - 2:41 pm

    Thanks Jaxon I am not sure what went through council tbh.
    Because I had a company handle all of it for me.
    But basically I have approval to build 3 townhouses with some tree protection agreements in place.

    The company is asking me to pay 10k for civil engineering, structural engineering, energy rating and another 7.5k for final working drawings.

    Profile photo of Suri007Suri007
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    @suri007
    Join Date: 2012
    Post Count: 21
    January 12, 2016 - 2:26 pm

    I have an investment property and the offset is for the investment property.
    I am unsure whether it’s better to keep the cash in the offset, buy another property and rent it, or put the money in someone else’s account so I don’t pay tax. The money came from their account so legally it is theirs and I can give it back to them I suppose.

    Profile photo of Suri007Suri007
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    @suri007
    Join Date: 2012
    Post Count: 21
    June 30, 2015 - 9:00 pm

    i bought at auction so no way out. i have it on good authority if i develop 2 townhouses in the back, i could make around 300-400k from the deal. problem is i bought over my budget and development costs money and is time consuming. i’m not sure how i’ll support the loan and the development for the time it takes. i could subdivide the land. that’s a good idea actually. thanks. but this is all so worrying though :(

    • This reply was modified 9 years, 6 months ago by Profile photo of Suri007 Suri007.
    Profile photo of Suri007Suri007
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    @suri007
    Join Date: 2012
    Post Count: 21
    November 10, 2013 - 11:28 pm

    I'm in Melbourne.

    Profile photo of Suri007Suri007
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    @suri007
    Join Date: 2012
    Post Count: 21
    August 20, 2013 - 1:08 am

    Thank you everyone!!! 

    I didn't put in an offer after driving all the way down there and cutting my work day short. I didn't feel right about it from the start but I was succumbing to the push of the estate agent. Boy is he good. 

    But when I was sitting there, I realized building 2 decent townhouses would cost me around 220+ each. I wasn't going to make any money. Maybe if I was lucky, I'd break even.

    So it was no deal. 

    I am going to make an offer today of around 285k (based on wilko's calcs) and see what comes out of it. If I get it good. If not, also good. There's plenty of fish in the sea :)

     

    Profile photo of Suri007Suri007
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    @suri007
    Join Date: 2012
    Post Count: 21
    August 12, 2013 - 4:40 am

    I can afford to buy a house outright in some surburbs. But for investing I am not familiar with those suburbs and can't trust investing everything I have in a place that I don't know. I want to invest in suburbs that I know, grew up in and understand. But in these suburbs I am would be happy to get a one bedroom place for 400k.

    For example, there is land being sold this weekend and most likely this will be around the 700k mark for one piece of land. The land is around 750sqm which means I could easily put 2-3 townhouses on it. But I can't afford to do that on my own and would need one other person to share the cost and profits with me.

    So that's my dilemma.

Viewing 8 posts - 1 through 8 (of 8 total)