Forum Replies Created
Hi hengjin.li,
if you offer is still out there I would love a copy of Thomas Lucier's E-Book, I tried to buy the hardcopy but Amazon wont' ship to australia, if you can email: [email protected] I'll see what I send you to pay you back :o)
Thanks,
Nathan Hosking
[email protected]
0421882268Thanks Jon, Totally agreed.. your comments echoe my research also.. thanks again :o)
Matt007, it appears that you have alot of experience with Seminars, including Massland (which I'm thinking about doing) and I would love to chat with you if you have the time, maybe I can offer some advice on various property investing strategies.. I'm 27 and Own 10 Properties in NZ and one i London so I think we could swap Ideas…
If you have a Mob I'll give you a call :o)
Thanks,
Nathan :o)
0421882268
[email protected]Great Advice Guys, really appreciate the input :o)
Matt007, you're right this is the Massland model and I have seen the Videos by Mark Rolton – that has sparked my interest. I first saw idea at a Princeton Development seminar here in Sydney and have heard about a number of other developers doing it also.. I think the idea behind Optioning a Raw Site and Applying for a DA to onsell to a developer is fairly common knowlege, it appeared that Mark Specialised in it however..
I understand what you're saying and when watching the Intro DVD, my BS meter was registered off the charts in some parts :o) I like the overall concept and I think it's important not to get caught up in the marketing hype, I'm in Marketing myself :o)
I absolutely agree with the points you mentioned. I do believe it's necessary to focus on the following things:
1) Look for areas with massive population increases like the Gold Coast, Adelaide and to a lesser extent Melbourne, especially areas where huge infrastructure is being put in place by Large Companies and the State/Federal Government
2) Do the feasiblity study and overcompensate with the figures, minimum 20+ profit +3-5% contingency
3) Establish a very high historical demand for the type of development you are trying to get a DA for
4) Don't enter into anything that you wouldn't happily build yourself if you have the time/money resourcesI think all of these are very important to get right, I believe the biggest risk is spending 40-50K on a DA then having the option expire worthless because nobody wants to buy it.
Ultimately it's like anything in life, if you do your homework, over-calculate your risk, under calculate your profit and look at historical evidence you can mitigate your risk to a point where more than 50% of what you try will work
Again I really appreciate all the great advice guys, especially with your first hand Experience Matt007
Nathan Hosking :o)
0421 88 22 68
[email protected]Thanks again guys, I did some research and found that http://www.onthehouse.com.au is a great resource for finding out the historical sales figures on a property Free of Charge!
http://www.streetsales.com.au is more of the same except you pay for it, although it does give you more indepth information
However neither of these services give you the owners name/s and/or contact details.
The NSW Land Titles Office will give you the Name of the owner but not the contact details but even for that the cost is $10.75 per Search!
So it looks like RPDATA is the only resource available that gives the name and contact details for $25 per search or $186 per week unlimited for NSW… unless you can think of any other alternative?
Thanks Again,
Nathan Hosking
0421 88 22 68
[email protected]Great advice guys, really appreciate the input…. it would mainly be to obtain the contact details of the owners of the property so if the other sites have that info, then game on… which does leave alot free cash to invest into starbucks! :o)
Nathan Hosking
0421882268
bizarre really, it’s a very small world…
anyone else in rotorua while we’re at it?
:o)
CorporateMonkey
Thanks for that Terry, I thought that might be the case… I also imagine that there must be a few people around that are doing this to avoid capital gains tax… not as an illegal tax evasion method but a type of way “around the system” I might ring the ato to be cheeky and see if they have any thoughts/policies about this(obviously giving a fake name with inquiries *joke*)….
I have enough in passive income from properties around the place to not have to work, so my aim would be to do it more or less full time which is where I imagine you could run into problems being that it would be my primary source of income in australia.. so maybe i would be taxed on profits at an income tax rate rather than capital gains tax – in any case, you would still be subject to stamp duty (6% in nsw?? with the exception of your first property purchase which is exempt under 500k in sydney metro area i think)
obviously would live in the first property that I buy in sydney for the first 12 months to avoid the issue of paying back the 7k grant… at any rate, I can’t imagine doing more than about 2 a year.. the other way around this is to join with a few other people, once a year – each buy a run down property in their name only, all work together to renovate them all then all share in the profits equally on final sale (any takers? haha)
thanks again terry, very useful information as always from you :o)
CorporateMonkey :o)
I’m here, moved from Sydney to rotovagas (rotorua) taking over the world one house at a time… drop us a line if you’re around 021 50 45 69
Massive Respect
CorporateMonkey (nathan)hey, me too Chandara!!
on the forum christmas day…I can give up anytime I want.. :o)
please email me any details on upcoming meetings!! [email protected] I live in nth sydney so anywhere in sydney metro area would be great
Thanks a bunch
let’s do this!-Nathan [
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