A friend of mine used to be the property manager at Buxton's in Brighton, her name was Anna Cameron but she was married recently so i don't know if she still uses that surname, she's really good though.

You can probably get the 9 financed with no pre sales, if you're prepared to pay higher fees and rate during construction, you could then finance out the end product with a few different lenders. You will get lower LVR, but they also value the property differently, so id doesn't mean you can borrow less money.

Hi Chris,

I don’t think you should apologise for expressing an opinion, that’s what forums like this are for. I also think your analysis of the world economy is pretty good, where I think you have things wrong are the conclusions you have drawn in terms of the effect on property prices and whether property is a good investment at the moment. Lets…[Read more]

Hi Chris,

I agree with you that the current "money printing" that is so prevalent throughout the world is going to drive inflation in those countries. However, we are not pegged to the US dollar or any other currency so there is no reason that will lead to inflation here, more likely it will have a -ve effect on inflation as our dollar will rise…[Read more]

Current CBA special offers:

* 2yrs @ 5.14% (2 year loan term)
* 3yrs @ 5.54% (3 year loan term)

I would think these are very attractive rates, especially given that cap rates remain reasonably high for commercial property.

We recently completed a 33 lot subdivision with block sizes ranging from 1.200 to over 2,000 sq m, the cost of civils was in the order of $75K per block. We had to put in a retarding basin and childrens play ground as condition of the permit, in addition to roads, services and fencing, all of which cost a fortune. Even if you had no issues like…[Read more]

Nigel Farage is awsome, I love watching him rip into the leaders of the EU. Anotehr worth watching is Daniel Hannan from the Tories.

Qlds007 wrote:
And there lies one of the problems.

New developers want residential rates and usually want to try and save on application, valuation or line fees etc.

Experienced developers realise it is more important to get the deal done and the overall interest rate and set costs are fairly minor in the scheme of things.

10% is about par…[Read more]

dlbrownlie wrote:
The Situation: We're looking at a block with a current DA for 7 units, predicted sale price of  $260,000+ each or about 1.8 million. total cost of the project inluding land, build contributions and  50,000 for contingencies is 1 400 000. We have a combined (2 brothers) income of 150,000, 300,000 in equity, and 100,000 in…[Read more]

Thanks Terry, it's still a work in progress but I think it's already pretty useful. 

Hi bnd, it is unlikely it would take anything like 2 years for a simple dual occ development. Planning would most likely take between 6 and 12 months, depending on whether there is opposition from the council and/or neighbours.

regards

Hi Neil,

We've just put up a new web site that will give you some of this info, it is at http://www.townplanning.com.au. There is a measuring tool in there which works Australia wide that will give you block dimensions and calculate total area, it also links to an areal photo of the block you are searching. In Victoria it also is able to generate a…[Read more]

bevo4650 wrote:
Thank you for your response.

So I guess the moral of the story is to shop around on brokers.

I'll have a search on here, I'm sure its been asked before but if anyone can recommend someone in or servicing Brisbane that would be great.

Thanks

You don't have to shop around, just find a good broker. I agree with the above…[Read more]

Hi Kara,

You are probably looking at 2 years plus if it is in Victoria. It's also very difficult to get a single block rezoned, unless its very large and suitable for chopping up. The reason for the length of time is that it is not ultimately an issue for the council (in Victoria anyway) it is a State Government decision, although the council…[Read more]

Hi Bevo4650,

You have received extremely poor advice, there are plenty of lenders who will accept your contract income. If you are planning on turning a current PPOR into an investment property there are a few issues you need advice on, in relation to structure.

Regards

This is true, but only because your Government can issue currency to itself and its debt is largely denominated in that currency. US Gov debt is increasing in a virtual 0% interest rate environment, how is it ever going to pay this debt back, particularly when rates o back up? The simple answer is that it won't, it will either openly default or…[Read more]

Hi BJ,

Given your credentials I'd be interested to hear your thoughts on the exchange rate. I don't have a strong opinion as to whether it is a good time to invest in the US or not, but i am pretty sure the long term outlook for the USD is pretty grim. I certainly think that is overly simplistic to think their will be a swing back in the exchange…[Read more]

Most of the banks have specific policies regarding non recourse lending (lending with no recourse to the borrower/guarantor(s) in case of default), its not that difficult and the loans don't have to be huge, we did one this week for only $975K for a client. Basically the tenant has to be of reasonable quality (ie something like a doctor, lawyer…[Read more]

Hi Natasha,

Unfortunately you are not likely to have much luck, certainly not with a bank.

Regards

Hi Natasha,

You can get non-recourse lending against commercial property up to 65% LVR, subject to a few conditions largely relating to the tenant and lease. I don't like your chances with resi property though, specifically because the leases and tenants don't meet the criteria required for waiving guarantees.

Regards