Can you subdivide the land into more land? Even if you cant split one into two, if the three are together (not mentioned previously, and I assume they are not), you may be able to split three into four or five.
I would build the biggest house (2 story, so you still get a backyard) on the land, one by one, rent them out, and then see if you can…[Read more]
In tweaking the formulae a bit, how does the following action plan sound?
Tie up all 4 properties (owner has three, and an option on a fourth) with, say a 12 month option. BTW, what is the going rate % wise on an option. ie if the blocks are going for 2 mill cash, how much down and what strike price would be…[Read more]
Just a quick note to say that I read in the SMH today that about fifteen thousand people have signed up as organ doners recently[^][:X][^]. Strangely, they attributed this increase as a result of the David Hookes tragedy, and not directly to my personal postings on this site![][]
Couple of answers- show me the money- unfortunately, the owners want a contract, not an option, or they will let the properties rot till they get their price.
Pieces (no offence taken)- but I have no experience in developing. However, I have an intellegent brain, a willingness to learn, and an old man who can hopefully steer me away from…[Read more]
I also thought on a similar level to Kay. On ricks tape set he says that he always tries to get access to the house (under the guise of interior decorating/maintenance etc)prior to settlement, so that buyers are ready to go. He also says that his time limit is a couple of weeks, tops.
As for manofactions comments regarding advertising locally in…[Read more]
Well, it looks like in mel and jaktar are in the opposing corners of the HK camp.
Interestingly, his sister (AKA bridgecorp) was basically running HKs system after asic went after HK. What was even more interesting was that it was his sister that voted to liquidate! Imagine what sort of dealings that you would have to be put through in order to…[Read more]
Mel, thanks for your input. Re ASIC, they have a ‘minimalist’ approach to small property syndicates. It sounded like what you were saying, just what I was after- till I read the fine print. There is a maximum of 15 investors, and each must have at least 5% of the funds invested. In trying to raise a couple of mill, that makes their investment in…[Read more]
I too have wasted 20 minutes of my formerly pleasurable life reading this inane thread[8][][][:o)][][}][:0]. I will soon reveal to to you the answer[^][^][^][^][^][^][^][^][^][^][^][^][^][^]-
‘THE MAN OPENS THE DOOR AND REALISES THEN HE IS GOING TO DIE’
Thanks for your replies. It does seem as though I may be labouring under a misapprehension!
The opportunity is presenting itself is as follows. 3000m in a line, opposite a shopping centre, next door to a medical centre, and townhouses and units popping up everywhere around. Asking price 1.3 mill. Couple of crappy houses (minimal rent, eyesore,…[Read more]
KateA, if you were intending to set up a split loan and PPOR loan (or already have) and use your theory, I think that you would be on very shaky ground. My vote goes with Mel, if the ATO loses, they will get parliment to bring in a law that says that interest on interest is not deductible. Probably wouldnt be retrospective though.
Im with mel on this one. Make an offer, your price, your terms, your settlement. What does a contract mean? Usually what the REA has talked the vendor into!
Why not get a contract, contact the owner and use the jenman phrase.-I would like to buy your house, how much would you like? If they crap on about how it is going to tender in 6.12 weeks…[Read more]
Michael, I talked last week to an acquantaince of an acquantaince in the finance and RE field. He said that I would be best to start with a company (easy to set up and easy to get extra funds down the track (as opposed to a trust)), and an ASIC approved prospectus. Cost of prospectus 3-5 grand, and about 6+ months, and all up I should get change…[Read more]