Hi Grossrealisation,

I agree with everything you are saying. I just thought your initial comments pointed to unlisted funds as only being smallish, when there are some very large ones.

It’s actually quite interesting going through the Financial services legislation. You can operate outside of its duristiction if you only deal with “sophisticated…[Read more]

Grossrealisation, you haven’t got it completely correct, there are some very large unlisted property trusts, some of which are open ended some closed. These are operated by companies with a Financial Services License, same as listed vehicles. I agree that the fees for these often make them unattractive.

Regards
Alistair

Most of the people I know in Vic who wrap use Lewis O’Brien. I haven’t got his contact details at hand, but if you do a search for him on the forum, I’m sure you will find him.

Regards
Alistair

It is really sad that a group such as WWW is under attack, especially when you consider the large number of unscrupulous people in the industry. I have spoken to a number of women who are part of this program and they all seem to have gained from the experience.

Regards
Alistair

On their web site they say they get paid by the developer, not the client. There is no problem with this, and both the companies I mentioned do this. What you want to make sure, if you want to deal witgh them, is that they get the properties for their client at a discount, which is what both GPS Network and WPB do. There are some less scrupulous…[Read more]

They look a bit like a marketing company. They might do good deals for their investors, but they would be no better than those offerred by some of the people who contribute to this forum, such as Roy from GPS Network or Danny Smith from Wholesale Property Brokers.

Regards
Alistair

How much you borrow is really dependent on the situation. If the place needs a lot of work you might be better off borrowing extra straight away, but this will cause you to incure some costs such as additional LMI.

If it doesn’t need that much work, given that you are going to live in it for six months, you may be better off simply paying for the…[Read more]

In your situation I would be most concerned with creating capital as your main problem with building a portfolio, in the inital stages will be funding deposits. Buying a place that you can do some minor renovations to, to add value would be a good option.

Regards
Alistair

Thanks to Danny for organising the night and Tony for standing in as speaker. As always it was very entertaining and informative. I look forward to hearing of Ozi and George’s US adventure at the next meeting.

Regards
Alistair

Hi Gardenerguy,

I have a client who puts together syndicates, to invrest in commercial property. He has a free ebook on the subject on his Internet site http://www.gal.com.au.

Regards
Alistair

It is possible, in some cases, to get up to 95% for serviced apartments. The rates start to get high as the LVR goes up, but if you can buy well enough you can make money out of these.

Regards
Alistair

It will almost definately be Res 1. You can check it out by having a look on one of the zoning maps at http://www.dse.vic.gov.au. Alternatively, you could ring up the council planning department and get them to look it up for you.

If you still have no luck email me the address I am quite happy to look it up for you.

Regards
Alistair

Hi Leoau,

Assuming the units are in a Res 1 zone, you should not need a planning permit for this. The relevent part of the planning scheme is Schedule 32.01-3-6. You therefore should not have to advertise your proposal.

You’ll probably need a building permit, but these can usually be organised much faster. I’m no expert on this part of the…[Read more]

See you Thursday Danny.

Regards
Alistair

Hi Misty,

If you want a one year turnaround, make sure you buy something with permits. I’m probably telling you how to suck eggs here, but i have come accross people who have budgeted for one or two months for the approval stage before. This is a bad mistake.

As Richard mentioned, construction loans are quite interesting. When choosing a lender,…[Read more]

There is some good free information on Commercial property investing at http://www.gal.com.au.

Regards
Alistair

Hi Mybazzar,

You have a lot of options with regard to finance, you should speak with a good independent mortgage broker, who can go over these with you.

Regards
Alistair

Hi John,

You really should give Roy a call. He knows his stuff and, from what you have said, his services match your needs.

Regards
Alistair

I have a mate who lives in that area. I think its a great place and will be very expensive once it is fully developed.

AB,

I suggest you take up Roy’s offer of a chat. He’s a very shrewd guy and your problems sounds right up his alley.

Regards
Alistair