I have lived in Melbourne for nearly 2 years now. I grew up in Perth, and then moved to Sydney for a year then here to Melbourne.
I love Melbourne, so for anyone to badmouth it you will upset me
First thing I learnt about Melbourne was Frankston. Bad area. -or is it? Cominf from Perth, I knew of many worse areas and as for Sydney, you can pay 4…[Read more]
I agree, Eastlink is going to change everything from Chelsea to Mornington.
I have a property in Bonbeach and have just bought one in Seaford. Both 300m from the beach, both have decent houses on them, both on dual occ size blocks. Bonbeach was bought in 2005 for 255k and Seaford in 2006 for 235k.
These areas HAVE to increase in value when…[Read more]
A friend of mine grabbed one of these, 3 blocks back from the beach around 660m2 and paid $555 000 with settlement expected around Feb 2006.
My parents have a house in Mindarie 850m2 with 180 degree ocean views, 2 storey (awesome place) they paid $180k for this block in 2000…
If I had a spare 550k to chuck into a block I would,…[Read more]
Mark Harris from Accounting West in Bunbury. Not sure if he owns properties or not, I guess thats a question for you to ask!
If you want an accountant that DOES own properties, I use an accountant in Perth, PM me for his details if you want someone outside Bunbury.
I am in Melbourne, and agree with others that they do not have to be in your home…[Read more]
4 properties will value at around 900k plus, but to be safe lets go on 900…(total)
Intention is to prove figures in 12-36 months time and either change loan products from that lender to another (hence my question about early pmt penalties) or stick with them on a reasonable rate… -preferably the standard variable rate
Sorry for the 10,000 questions…
Would the lender ‘Pioneer’ be one of those that reduces the IR to a standard variable rate after,say, 3 years with full financials?
If not, are there any significant penalties for early repayment of this sort of product?
One more… How difficult is it to get a lo-doc approved with a LMI company when you are…[Read more]
Might just work if I can go up to $1 mil… nice
Will keep it in mind, thanks!
Is there anyone else doing this or is this the best deal for this sort of thing at the moment…?
If they saw my last 2 years tax returns would that help (maybe slightly lower IR?)
I have just left me job you see and no longer have the PAYG income. My income will…[Read more]
I guess I didnt put much thought into what I actually expected it to be, just asking out of interest (so to speak). I am going through one of those mid life crises that you have (at 25 mind you) where I am looking at many possibilities.
Is there a maximum loan amount for this loan? (some lo docs used to be under 500k or under $1 mil)
Who is the…[Read more]
Thanks for your reply. When I say ‘active’ in the business, I mean this person wouldnt have to participate in the day to day activities. This sort of person may have another career and wants to simply ‘invest’ his or her money. This person would be regularly (weekly or monthly) be informed on the progress of the business and have the…[Read more]
There is a ‘rule’ of the website that you cannot advertise any opportunities you (or someone else) has available -so I you can just use the forums for information… There is a development section which may help, however.
With the franchise I am intending on purchasing, I can borrow up to 60% from a Bank (which is what I intend on doing)… Having funds tied up elsewhere at the moment prevents me from getting the other 40% myself, which is the reason for the search for a private investor. Sorry, I should have clarified this in my original post. [laugh2]
….and to clarify, the investor would have no part in the day-to-day operation of the business and the contract would state the period of time in which (I) would pay back the initial debt. There is however, a possibility that there MAY be an agreement in place where the investor DOES have a part in the daily operations, in which case one party…[Read more]
Thanks for your reply.
Whats in it for the investor? This investor (as a partner in the business) would obviously be taking some of the risk involved with the business and therefore the rewards. Given that the franchise is internationally recognised, and with a solid, detailed and accurate business plan, I would expect that this could be…[Read more]
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