Thanks ballerina, that’s pretty much what I thought for already approved DAs. Now hopefully the pending DAs are just as easy.

Depends on your own individual tax position and also the property that you purchase. If subsequently the margin scheme can apply to your development.

If so generically

If you have a end sales value of 2 million. Your max gst could be as high as 200k
Applying the margin scheme. You pay roughly 10 percent of the difference between purchase price,…[Read more]

Firstly. If your broker has less properties then you. Or rents, stop listening to your broker.
IMO a broker who doesn’t invest themselves. Is a sales rep.

Cash and equity wise you have enough to buy several properties. The question is what type of properties do you wish to buy. Ie would you buy a new unit. Yes Low maintenance etc but once you…[Read more]

If you obtain 1 presale for a home for say the end sale price 400-500k for one of the homes. Some banks will consider funding it. As it should be residential/ investment type lending up to 80% LVR and including rental income from the properties in the servicing.
Also technically your 1.1 million is producing a income a high interest account of…[Read more]

First 2 years are the hardest.
I would recommend that if you have friends or family that work in business if you can be employed on a on off type arrangement. where you work fulltime hours whilst at work and then when you are renovating you have time off or say you cannot work for 4 weeks. I say friends and family because not many normal…[Read more]

If you are going to be subcontracting back to the builder and Doing the majority of your work for him. Could be seen as sham contracting.

You also have to look at things like job security. As a subby, if things cool down and there is no work you have no income, a full-time job means you do have a level of stability.

Also getting 37 as full…[Read more]

Were you given a form 1 by the real estate agent?

This should of contained a copy of relevent council searches.

If not then you might not be in contract. Even though you have already settled.

That price is about right as well. Savings can be made with your landscaping plan. Usually I do that myself as some can charge $500-700 for landscape drawings

You need to get into contact with a good independent town planner. They will put your fears at rest and be able to give within reason sound advice. Look for someone located in that area as most likely they have put in applications before on behalf of clients and will have a idea already if they can get away with it.
I wouldn’t say this is a rule.…[Read more]

Negotiating good deals, creative deals you have to look at the buyer.
If you have a family in a family home and they are selling there’s Buckley’s chance you’ll get early access as they would want to stay there till settlement. So you need to look at investor owned properties or already vacant properties.

Offering unconditional with early access…[Read more]

Which bank/institute goes to 6 and 10 respectively Richard, before turning commercial?

I’d say as a beginner whilst LVRs down that low 30-50 % would be great, realistically would be unachievable for a beginner. More likely you would find yourself in the 65-80 percent range and only 80 percent if you were building residential under 4 dwellings or so.

Full DA shouldn’t be that costly.
2 homes – 2-3k plans
1k-1.5k for a cover letter from a town planner
$500 for a contour plan
$500-700 for council application fees

Development polices are only put in place as guidelines. You can submit anything you want to council but the majority of the time if you play within the rules bar like 1,2,3,4,5 different things then the merit of the proposal out weighs qualitative measurements like being 8sqm short. As if the block is still able to be a functional and usable home…[Read more]

My advice would be to get some money together yourself and put yourself in a position to leverage that money to buy renovate and sell a property. Because if you are confident you can make a profit then putting down your own money wouldn’t be a issue. Unless you had some skin in the deal and something to lose. A investor isn’t going to take a punt…[Read more]

In my honest opinion. If I was going to invest up to 400k I would be looking to leverage it a bit better then making 40% of the profit on a 400k investment. That means your looking at buying under 350k properties with some money in there for renovations bills sales costs and marketing and a contingency and I will say interest (because if that…[Read more]

REST software for property managers

Plus you have to acknowledge that you will never be able to make the best possible start. You should though make a start and you will learn and become more experienced through repetition and practice.
You should however aim to not lose money.
Don’t buy a over valued brand new home in a fringe location that won’t see any growth for the next 10…[Read more]

Well if you are unfamiliar with property investment or just investments in general. I would read up about the topics that interest you. By the fact that you earn jointly over 200k I would just avoid renovations. If you have the financial capability you can do something that leverages people’s time better. Property development for example,…[Read more]

Security substitutions can happen. But most banks only do it for PPORs and require same day settlements. And even then they still do updates on your pay-slips or incomes.