Total Members: 158,200

Ballerina

  • Ballerina replied to the topic Dual key in the forum Help Needed! 8 years, 7 months ago

    Suburbs like Alexandra Hills – Redland Council (near Brisbane) have many properties with downstairs area legal height, and potential for dual key. With reno/value add potential as well. Property can be later on sold to owner occupier without dual key flag. Person I know recently purchased one 3 bed house with downstairs rumpus and bathroom.Added…[Read more]

  • Ballerina replied to the topic DA going to be knockbacked back what to do ? in the forum Help Needed! 8 years, 7 months ago

    Hi Futurefunds

    Do you have town planner working for you, or you lodged DA yourself? First thing I would do would be looking for independent town planning advice. Experienced town planner should know how to present/defend your case, if other houses in the neighborhood already do not comply. Maybe matter is not that simple, however, professional…[Read more]

  • Ballerina replied to the topic 16 Years Old – Getting Into Property Development in the forum Help Needed! 8 years, 7 months ago

    Congratulations for having a clear goal at your age! Half job done.
    Start reading, whatever you can get your hands on. Even if you learn only one thing from the book, it is worth it. Do not limit your reading only to property literature. Personal development, goals setting, economic, finance, tax low….

    Try to find a local mentor.
    As for your…[Read more]

  • Ballerina replied to the topic LMR requirment for Brisabne in the forum Value Adding 8 years, 8 months ago

    Hi Coogee
    This info is still up to date, however, it is not set in stone. Site could be smaller and frontage narrower than that (as your town planner has stated). 3000m2 minimum is for unit development in LR (low residential) zoning, not LMR.
    To help you in more detail, you have to ask more specific question.

  • Why would you sell your current investment property, in order to buy a new IP shortly after? That would be lots of money spent on selling/buying costs, and CG tax? You may have your reasons…. Just a thought? If you use your existing equity from current properties to acquire new IP, that part of the loan would be tax deductible. What matters is…[Read more]

  • I do. And, despite Carly’s horrible reputation, material is very, very good. I am experienced property developer and learnt a lot out of it. Would be willing to sell.

  • It is very important which council is the land in. Some things which are Ok in WA, are no no elsewhere. Certainty with any development is a must, so you know that your plan/strategy have no obstacles. Talk to your council or local town planner first. Then look for the people with the same experience.

  • Ballerina replied to the topic Vacant Possession denied in the forum Help Needed! 9 years, 1 month ago

    If you are prepared to walk away from this purchase, ask for another condition: if current tenants do not move out on the settlement, seller would pay your rent till property is ready for you to move in. Agreed amount to be taken out of the settlement proceeds.

    Your seller can not have all in his favor. He also has to give something back.

  • Thank you Wilko 1, but it will not help because extract above is from the policy. And further explanation is from director of QBCC Insurance Services. We have all lodged the claims , and some have already been rejected. Ours is waiting for assessment.

    We are obtaining the quotes to complete from another builders and quotes are coming in…[Read more]

  • Hi all
    This post relates to the compulsory Queensland Building Construction Commission Home Warranty Insurance Scheme, payable for any construction work contract above $3000 (in Queensland).
    It has to be taken out (paid for) before building approval is granted.

    Just want to share something which we have learned hard way…. And to warn all f…[Read more]

  • Ballerina replied to the topic Recommended Granny Flat Builders? in the forum Value Adding 9 years, 4 months ago

    Hi SamBoy

    <moderator – delete advertising>
    Have you looked at modular kit granny flats?
    For example: emjaro.com.au

  • Ballerina replied to the topic Silly Question?? in the forum Legal & Accounting 9 years, 5 months ago

    Hi Alex

    Out of personal experience: all you need is a special condition in the contract saying that vendor grants you permission to lodge DA before the settlement, and , subsequently, signed consent letter from the vendor to be lodged with council. DA is attached to the property, not the owner.
    If you get the option on the property, and…[Read more]

  • Ballerina replied to the topic Finance for construction of 6 townhouses in the forum Finance 9 years, 6 months ago

    Hi wilko1
    Thank you very much for this information. I will definitely see how it can be implemented in the areas/councils we operate.
    Just to clarify: if you have a party wall acting as boundary, middle line is a new boundary? Apparently Council is happy to proceed with survey plan endorsement without buildings being constructed, but are shown on…[Read more]

  • Ballerina replied to the topic Finance for construction of 6 townhouses in the forum Finance 9 years, 6 months ago

    Wilko 1, this is great idea, if there is enough land. In most cases multiunit sites do not have enough land for subdivision and /or council will not allow subdivision to be done first for community title scheme. It is applicable for low density residential (individual housing zoning).
    Shane 13, check it with your town planner and designer before…[Read more]

  • Ballerina replied to the topic Finance for construction of 6 townhouses in the forum Finance 9 years, 6 months ago

    Bank of Queensland did one for us recently, for 5 townhouses, to be kept as rental properties. So, no presales at all. 65% LVR, including GST (usually not the case), because it is done in personal name. We are not GST registered. We do have development experience, strong equity position and serviceability without rental income. Managing the…[Read more]

  • Ballerina replied to the topic Brisbane Buyer’s Agent in the forum Help Needed! 9 years, 6 months ago

    We were very happy with the director of PMC Property, Brisbane based. He used to work for another agency and has started his business since.

  • Ballerina replied to the topic Changing company name – current and processing DAs in the forum Help Needed! 9 years, 6 months ago

    Out of my experience, it doesn’t matter. All you have to do is notify Council in writing and present proof of new ownership. DAs are issued for the property, not the owners. Often my clients come to me for construction documentation after they have bought the property with DA in place, issued to the old owners.
    Just ring Council up and confirm.

  • Ballerina replied to the topic Splitting a Block of Land in the forum Value Adding 9 years, 7 months ago

    First you have to check whether existing house, when moved, would fit on the half of the block. In this case it would be approximately 10.2 m wide block and you would be creating two small lots. There has to be enough room to allow for boundary clearances. At the same time you have to check demolition/removal restrictions, if any. You can do that…[Read more]

  • Ballerina replied to the topic An Urgent question for Developers in the forum General Property 9 years, 7 months ago

    Hi Benny,

    every development site with old house which has to be kept is challenging, to put it mildly. Majority of the experienced developers (who DO make profits) would stir clear from it. Or expect a bargain. Have you got any offers on it? If you can sell it for what agents tell you that you can get, sell it. It is purchaser’s task to perform…[Read more]

  • Ballerina replied to the topic 80 – 100% pre-sold. Guaranteed construction loan approval? in the forum Finance 9 years, 11 months ago

    Be aware that valuation is not always taken as for buy and hold purchase.

    It is important to understand that most lenders would reduce valuation from MARKET VALUE to ALL IN ONE LINE VALUE, resulting in APPROXIMATELY 15% discount. It means that approved LVR of, lets say, 65%, is calculated fron the lower base. It is possible to find the lender…[Read more]

  • Load More

Ballerina

Step 1 - 0% Complete

Fill Out Your Member Profile Below

Fill in the required fields below to complete your registration.

Registration not only grants you full access to this website, but will also enable us to send you our newsletter, latest investor tips, strategies and information about events/products relevant to investors. You can opt out at any time.

Used to log in to the website and for targeting with messages. Alphanumeric characters only. No spaces allowed..

Member Login
Lost your password?
×
158,200

Register Free To Unlock Unrestricted Access To PropertyInvesting.com

×
1-Day Millionaire Mastermind Workshop - Only LIVE Training in 2019!