Sorry folks, been away from the computer of late – have been a tad pre-occupied with the project.
Thanks one and all for the suggestions – have listed the development with out of town agents, who have clients/customers seeking investment properties. Have estimated returns in the region of 6.5% p/a or thereabouts, (rent + depreciation) which whilst…[Read more]

Thanks AusProp and GQ,

Re the mock up – good call but can think of nowhere to stage it, not to mention the dramas n $$$ of putting together a real ‘exhibit.’
So am now considering getting a virtual mock up done so people can do a walk thru etc – may well be a good step as I think yor’re right – people have trouble visualizing the end product…[Read more]

hi Kattan,

Don’t know of any offhand, but you might try Owner Builder magazine, lots of people share their ideas + plenty of trades specializing in O/B advertise in it.

Cheers

theloanarranger

Hey luckyone,

Pick a broker, any broker..
There’s still 1 or 2 lenders who’ll give you a discount on their fixed rates on certain loan levels, but it’s nothing to write home about – around 0.1 or so off advertised rates. If you intend fixing it all find out what you can get elsewhere and then have the unless-you-match/better-this-I’m-outta-here…[Read more]

Hey alwayscurious,

On face value I can’t understand how the 25 y/o unit is costing you $200 p/m (unless you’re paying way high interest..??) It should be creating + cash flow, in which case I would NOT be selling it.. Whether to renovate would be a decision based on if it would increase the rent, increase your deductions or to keep your tenant…[Read more]

Sounds like you’re a wee bit un-unbiased there Rob.. 20 large, huh?

Mind you, I had a good laugh when I read the article too – I’ve had a few of their ex-clients with stories to tell, and problems to fix..

theloanarranger

Yep – the writing is on the wall for some.. There’s going to be some fall-out for banks, borrowers and brokers, and it could get very messy indeed..

My colleagues and I were scratching our heads when various lenders brought out regulated Lo Doc Loans – I appreciate most are funded offshore -but still believe the majority would breach the UCCC if…[Read more]

Hi Dingles,

I too hate selling unless absolutely necessary.

Be aware that if you sell the IP you probably won’t have as much $$$ to play with, after sale costs, CGT, etc – and you’ll forgo any more capital appreciation. Only way I’d sell the IP (don’t forget market in most areas is slowing/retracting) is if you could use the $$$ freed up from a…[Read more]

Quote:
Originally posted by spider2:

Steve McK has stated in his book that he favours self gratification

He does..???? [ohno] That would explain the glasses..
[biggrin]

theloanarranger

Hi Pin22436,

If you want to send me your contact details, or details of the deal, etc either send me a PM or (preferably) an email – I’m not on the forum boards continueously.

I’m a MB in Sydney, grew up in country NSW..

Cheers,

theloanarranger

Elbow,

Unless the outlaws still have a reasonable mortgage on their property and/or they could expect the property to rise in value substantially, they might bebetter off to sell it. Reasoning being that any loan they raise on their property to buy a new o/o property will NOT be tax deductable, so they’ll have a o/o loan (even though it’s secured…[Read more]

Hey Bionic,

If all else fails, try going to the relevant council, (the rates dept)and ask to see the sales register – basically a list of all property transactions going back several years within council boundaries.
Some councils charge, others don’t. Should give you the address, price paid and settlement date.

theloanarranger

Go WAF!!! [thumbsupanim]

Re occ: broker ‘n private sale consultant

theloanarranger

So who’s this herman guy[evo]?

theloanarranger

My 2 cents worth.. R/E sales agreements have the
extension clauses (ie up to 60- 90days after expiry) to ensure agents can claim commission if a buyer that was introduced during the agency period approaches the vendor to buy after agency expires, witha view to saving/splitting the comm. Some agents use this clause as a de facto agency, or for…[Read more]

So I build my house on your land, huh? We really wouldn’t want to have a disagreement about anything before settlement now, would we?

theloanarranger

Misty,

If you think a lower val price is possible, consider getting a val done either privately (ie you pay for it, and ensure the valuer is on your lenders panel, so you can use it later), or use another lender than your existing to do the val. (probably still have to pay for the val, but will probably be cheaper than getting one done yourself,…[Read more]

You called ??

theloanarranger

Agree with Simon re property presents better furnished, and possible rent discount. Talk to the tenants first – you’d be suprised how many want to buy the property they live in. If they can’t afford a normal loan – I know a good place to find info on wrapping..[biggrin]

But if they look after your property well, treat the tenants like family – if…[Read more]

Depends on who we is…

If it’s the members of the club, and you have to borrow the funds to do it, think very long and hard before you go down this path..

Every borrower would be potentially responsible for the entire debt – would get very messy very easily.

If everybody’s going to throw in and buy it, what happens when someone wants out? Or…[Read more]