Forum Replies Created
Hi Sooshie,
I can’t help you much with any detail on the matter but I sent an email to API seeking further info’ but I haven’t had a response yet.
I thought may be if a few of us contact API they may run something on it in a future edition if they don’t repond to individuals. I was also very interested in the concept as it sounded as if it would suit a deal that I’m presently trying to execute.
I will try contacting API again myself and let you know if I have any success.
Regards
WayneGood evening hwd007, sorry I’ve been out of circulation for a couple of weeks but I said in a posting to you a couple of weeks ago that I would see if I could find the articles on property syndicates for you if I could.
The first article appears in the australian proerty investor on page 14 through to page 25 of the oct/nov issue 1999 and there is afurther article in the API on page 33 of the the dec 02/jan 03 issue by Geoff Doidge & Paul Eslick titled tapping the power of joint ventures.
I hope this info’ proves to be of interest.
regards
wayneHi, hwd007 & others.I think this is a great way of helping each other get into a market that we may otherwise not be able to access. However the articles I have read on the matter indicate that you need to do a lot of home & set the syndicate up properly.
There were some exellent articles on the subject in the property investor magazine a few months back and if I can locate them I’ll post the details for your information.If you would like to discuss anything further please give me a call on either 0350 188420 (w) or mobile 0419 500203.regards
wayne wilkieHi Smirky, just a word of encouragement as I think you’ve just stepped outside the square and on the road to success.If you listen to the fast track tape I’m pretty sure Steve say’s he’s still renting as a business choice so go for it and I’m sure you will be a champion.
wayneHi hwd007, firstly to give you any idea of what your costs might be I would need a floor plan, type of construction etc. If you wish to fax a copy to my attention on 03 50211899 I would be happy to see if I can help.The only other comment I would make is in respect to the alterations and the body corporate and that is you don’t normally need the B/C consent for your internal modifications but if you are intending to change the exterior facade you would need there approval.
oh! may beyou better mark that fax attention
wayne wilkie.Hi getting there, I would have to agree pretty much with regina’s comments in respect to this matter.However don’t be daunted by the processes they are just another part of doing business and it’s only a matter of getting in and doing it.
What your proposing can be very profitable and exciting as you gain confidence and progress.
My suggestion though would be to make the local council planning dept’ my first port of call and get the good oil from the horses mouth because it’s my experience having been involved in the industry for many years that it will save you a considerable amount of time and effort. If you would like to give me a call send an email to [email protected] with a phone number and I will see if I can help to minimise your concerns.
wayneHi fallout, you asked how much 45 acres is?
45 acres is approx 180,000.00 square metres or equivilant to approx’ 300/600 sq/m blocks or 212/850sq/m or ratios of 180,000 divided by the size of the block you want to create.However you won’ get that many blocks out of it as you have to allow for roads recreation areas etc. Up our way it costs around $35,000 per site to develop if you allow for services,road constuction and drainage etc.
Hope this helps
God bless
WayneHi Will, the area you are seeking advice on a number of variables and depends an which state you are dealing in so if you would like to contact
me just email me at [email protected] and I’ll be happy to provide you with my phone # and explain it to you.
But for general information which may assist other members I will compile some web site adresses and post them on the forum.Wayne
Hi Honkytonk, Idon’t know how it is in western australia but in victoria you can transfer the property to a spouse without a lot of the cost of a normal sale but I would imagine that would need to be done before any divorce etc.I would suggest you should speak to a solicitor who can advise you in such matters.
Hope this is some help and God bless.Hi genises, I live in mildura so if you would like me to research the property for you I would be more than happy to help.However I will say my contact has indicated that serviced apartments are very difficult to rent here. My email address is either [email protected] or [email protected]
litle mermaid, I don’t know a great deal about buying in the company names and transfering them into trustee accounts but if you are using the companies as trading accounts you may be exposing the properties to potential liability in the event of claim against the company depending on how the company operates.
AD,sorry I’ve taken so long to respond to your posting and to the the other members that responded to my original posting.
However, I was wondering whether I could persue the matter further in respect to the posting I added to my original one of “To sell or wrap my existing investment property” as it is owned by my company which could be claimed on in the event an insurance claim hence the reason for a possible sale.
Also, AD,your explanation made everything clear in what you had statedSooshie,AD,Mike,JP,Jacque& Steve sorry I went missing but I posted my
question the night before going away for a few days.Just getting back to business now, however I will be away for another week from friday 22nd nov.
Thank you all for such a welcome and the valued comments.
In answer to your question on my location, I live in a placed called Mildura which is on the vic’ nsw border.
Further to my posting there are a couple of issues that will probably affect the way things could proceed and that is that the property is owned by my company and from the postings the tenants may not be able
to afford it any way.
AD,I’m having bit of trouble understanding some of the comments
in respect to the amount of cash flow and backend, however I’m sure I
will get it as I go along.Sooshie,sounds like most banks are tarred with the same brush but I think things are changing slowly.
Steve,I was Most interested in your comment about lease purchase as I had persued this idea with my old accountant and he could understand what I was talking about.Is there any information available on the subject at all ? I think I better leave things at that and look forward to further discussion.
