Sash, there are still quite a few suburbs in Canterbury-Bankstown which are sub-$500k. Many have rail access or the M5. You may not pick up a brick house but there are plenty of big blocks on offer suitable for duplexes or more.

if the vendor executed the contract & you have paid the full deposit, why not date it yourself?

Watch out with what yo are doing. Taking money out of a loan account is ‘new’ borrowings & the purpose is paying off your ppor which is not deductible so the new borrowings are not deductible.
Using funds from an offset account are treated the same as savings, your IP loan interest is charged on the outstanding balance.

I was having a chat with a developer yesterday about the Brisbane/Gold Coast. Although they are selling OTP in Brisbane they are concerned about the state of the market.

What do you want to achieve? Asset protection? Distribution of profits? etc

What role will you take? Builder? Developer? Passive investor?

Who will hold the building licence? You/spouse? Contractor?

Have you purchased the site already?

Have you been reading this weekend’s Eureka report?

US & Europe massively overextended. China & a few others financing their living beyond their means. Gold up 30%+ in 12 months yet people still flee to the usd not gold in troubled times.

And how much did she pay for this great seminar & tutorial?

I would be assuming that they are looking @ family day care not a childcare centre. The works are generally of a minor nature & are more oh&s issues like stair barriers, gates etc.

Just to throw a spanner into the works:

TDC: 6x$600/1.1 = $3,272,000 ex gst

Developer has ‘paid’: 3x$600k/1.1 + $500k + $240k = $2,736,000 ex gst

Net equity: $3,272k – $2,736k = $536k

If there is $500k to be made for zero outlay, why wouldn’t the vendor just proceed without a non-contributing 3rd party?

Totally dependent upon your target market. No point in having a range where the norm is u/b & hotplates.

Hi Homer,I did a trip out to Rhodes this morning to check out the Billbergia apartments (as well as whatever else was happening out there). Billbergia, from my initial contact appears very legit (currently selling Homebush off the plan and another one at Rhodes shortly). They have been around for a while, having completed a project at Lane Cove…[Read more]

Cattaby, renting of a property is regulated by the Office of Fair Trading/VCAT etc in your state. In NSW the OFT has the lease and inspection report available on line for downloading. There is a wealth of information there to be read, you must provide prospective tenants with their rights etc as well as becoming aware of your obligations as a…[Read more]

Came across this article today: http://www.news.com.au/money/property/floods-hit-land-valuations/story-e6frfmd0-1226046029114?from=public_rss

Ah Grasshopper, just as the banks are loathe to lend to owner builders and are much more stringent on the release of progress payments, so are insurance companies when it comes to paying out monies to inadequately or uninsured, untrained 'tradies' where the liability may flow back to them. They want their pound of flesh but require that the scales…[Read more]

you may need the services of a valuer to quantify land values & accountant to determine any gst payable.

If you intend to do the work yourself, you will still need to satisfy the lender of your ability to satisfactorily complete the works & not lessen their security as well as providing home warranty insurance or complying with the owner builder requirements & payments.

Applying any additional funds to other property may lead to the insurer to sue…[Read more]

I will be meeting up with these guys later this week – PM me.

the insurance company has no relationship with your bank, you direct it where to deposit the funds, not your bank.

Be forewarned that taking a payout & not effecting a building contract for the rectification work, may mean the insurance company may not accept the premises as a risk.

These numbers are for statutory ratings purposes only. The valuation has not been commissioned by you for a special purpose, you are not privy to those instructions & it has been undertaken using mass valuation methods.

So, in short, no.