http://www.morganbrooks.com.au/residential/options_rural.html

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

WF

Unfortunately there is no way of getting thew FHOG earlier.

It hasnt put me off wrapping.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Michael

We have wrapped over 152 properties in SE Qld as a specialised wrap company.

We were lucky enough to have decent assets which the Bank secured and provided separate funding for the wraps to a level of 80%.

It has taken over 8 years to get where we are now so it will not happed for you overnight.

Be patient and put in the hardyards. As…[Read more]

WF

Terry is as always bang on. 2 other requirements are now required:

1) That the wrappee has repaid a total of 10% of the Installment Purchase Price including both principal & interest i.e installment price $200k repayment to a level of $20K required that is $1667 / month.

2) The wrappee signs a Statutory Declaration confirming that he / she…[Read more]

Guys

I am suprised the Mortgage Brokers on the site here haven’t listed a range of lenders who can accomadate your request.

In the meantime i would throw in Morgan Brooks who offer a 80% LVR product upto 100 acres.

Greg, sorry to disappoint Suncorp and St George have no alliance.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is…[Read more]

Lisa

Undertaking your first wrap or IP purchase is undoubtedly the hardest one.

When we started in 1996 I remember not sleeping for nights wondering if I had done the right thing and whether the purchase would make his loan repayments. Having completed over 148 wraps since then I never loose a seconds sleep these days.

As Red said if it was…[Read more]

One alternative is to obtain a copy of the Town Plan which will give you the most complete understanding of what is happening in the City.

You can either go and buy the full CD copy from the Council which comes with a the hardcopy manual or an abrievated version dependant on your requirements.

If you are trying to sought out areas for future…[Read more]

15 years is nothing in the UK Bear Stearns was the first Bank to offer 25 year fixed loans back in the early 80’s.

Still I agree with Steven’s sentiments it’s a bloody long time.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

After 8 years of property developing in Brisbane I agree with Terry (as if often the case).

Trust with Pty Ltd Trustee is the only way to go.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Depends which State you are referring to.

In Qld for example the purchaser is now required to provide a Stat Dec confirming that the loan repayments are upto date and that you do not intend to default in the instalments.

Given that the Grant is not payable until either:

1) 10% of the Instalment Contract Price has been repaid.
2) The Contract…[Read more]

Techa

The eventuall purchaser of the bowls club ended up with a site for 55 Townhouses.

We knew from day 1 that we could get the development approval but didnt think we get as many.

With the growth in development sites in the Brisbane area transaction such as these are not that hard.

The hardest part is identifing the next development…[Read more]

Jordan

I dont now where you have been but i would never pay 5% for an option fee.

I have been developing in Brisbane since 1994 and never paid more than $10000 as an option fee.

One of the projects we are developing at the moment is a child care centre and worth over $3M at present. We have paid to date $3,000 with a further $3000 payable in 3…[Read more]

They certainly won’t be units or single dwellings anywhere near the Brisbane CBD

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Fire

If you now Brisbane you now the area I am talking about.

I took an option on the Nundah Bowls Club for which we paid $1000. The underlying Contract price was $800,000. Subsequently sold the option for $1,350,000 to another developer.

The property was then sold twice more and the current developer paid $1,800,000 for the same…[Read more]

I agree with Lucifer.

We do not allow our wrappees to rent out the without out prior permission and to be honest i would never grant it.

Saying all that if it was a matter of renting it out or not making the pinstallment payments then i may think about it.

Thankfully the question has not come up to date.

Cheers Richard
richard at…[Read more]

Things in Qld are different to what Terry & Scott have mentioned about Vic.

In fact in Qld the rules changed again on Sept 1 04.

Which State are you referring to.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Fire

Not to be one to put a dampner on your idea of purchasing near the CBD and renting it out.

Just not sure if you realise what you will have to pay. You certainly won’t get much in the way of mortgage payments for $200 / week. Even if you were travelling in from the South side you still wouldn’t get much.

Somewhere like Oxley in the West you…[Read more]

KP

Find it hard to beleive that Adelaide / Macquarie wil finance wraps as both full ymortgage insure there loans and no MI Company will accept a wrap.

NAB have done over 140 deals for me although must admit they are holding rather a large amount of security and the deals are done at HQ now.

And your take on the fact it is normal financing a…[Read more]

Apples

In essence there is nothing you can do to guarantee get approval when you bid at auction day.

One thing you could do is arrange a preliminary meeting with the Local Council and get them to give you their feelings on such a deal.

Most Councils at a charge will set up a preliminary meeting with a Town Planner and representative from the…[Read more]

Steve

Not trying to appear smart but surely if you have received advice from your Accountant to apply for an ABN and register for GST wouldn’t he be doing it for you in the entity which he considers most appropriate for your financial circumstances.

Whilst I concur with his recommendations if you are purchasing a Commericial Property i think you…[Read more]