No DW the alcohol hadn’t taken effect, yet!

unfortunately it is totally unethical to contact the vendor directly (details can be found by a title search). The agent will still be entitled to a commission as you have found the property off their listing.

before firming up your offer get inprinciple approval of finance. Also speak to a few building companies which are building similar developments in the area.

fwiw 22% occupancy costs would be unsustainable for most businesses. Less than half of that would be typical. How would you as a property owner feel if you had an incompetent tenant resulting in a low occupancy rate & you had no certainty of a base level rent? No base rent means the tenant can effectively live on premises rent free if they don’t…[Read more]

bonus points for the goose who has now put all borrowers out of the market until mid-2011 when borrowers will get a ‘better’ deal.

definitely require Realestate licence. Property/building inspection may require building or building inspector licence, pest inspection licence & professional indemnity insurance. Licence requirements are state based.

Robbie , be advised, there are changes afoot in NSW for buyers & sellers: soon property inspections will be paid by the vendor but reimbursed by the buyer. Thus reducing costs for buyers going into auctions & being revenue neutral for vendors (if they sell).

which state?

joe, all of your questions seem to point towards which occupation will pay the most with the least financial outlay, least commitment, least experience & least risk without giving up your current job.

What is it that you want to do?

read my option b)

consider carefully how you propose to purchase, it may be better to buy within your smsf, trust or other vehicle than personally or with the trading coy. The separate entity can then lease back to the business.

If you must pay gst on the purchase, make sure settlement date is close to your BAS report date so you can claim it back asap. Don’t…[Read more]

Catalyst wrote:
I'd rather have the money in my pocket NOW. I can use that $20,000 to go towards my next deposit. So it's not a black and white issue. As mentioned-you need to balance time and money. Everyone is different hand has differing time and expertise constraints. Only you know what situation suits you.

What you are forgetting…[Read more]

you might consider the following: a) rent to buy scenario with your mum owning the property however this may affect her eligibility for the pension/tax etc or b) you purchase the property in your names & your mum putting a caveat on it to secure her interests, she can Then get a LOC using her house as security & put a mortgage in place for what…[Read more]

yes look up the OTEN property development course. Available online/correspondence.

FP’s are all about diversification & minimisation of risk across a portfolio. This required good skills in asset allocation & portfolio analysis as well as developing an understanding of the client’s risk profile.

To achieve the right balance, most FP’S avoid direct property favouring indirect property eg property trusts, syndicates or…[Read more]

DIY = poorly supervised/overtime/over budget.

As above, unless you earn substantially less than the tradies or have copius free time & love stress, leave it to the pros.

If it is an IP you can’t claim your labour costs, generally thus leaving you with a greater amount of cgt payable upon sale. So, more false economy.

the ob restrictions vary between states, nsw is 6 yrs as well. the cost of doing ob & perceived savings are more often outweighed by the efficiencies of using a builder.
You may be able to reduce this timeframe restriction by having the other owner take up the ob licence.

fredo_4305 wrote:
Do you have problems with tennants breaking them though?

  No

fredo_4305 wrote:
The house is a small house with the smoke alarm placed in accordance with the manufacturers instructions.Unfortunately they are the sort of people who would not hesitate in taking me to the cleaners if there was a fire and no smoke alarm…[Read more]

have a look at the property development course being run through TAFE via OTEN – delivered online/correspondence. No hidden agendas or dodgy sites/schemes.

Capital growth will depend upon the area ie have large swathes of the area been rezoned/gazetted to be rezoned for medium density, is there other land available for development in the area, is it close to the city, will the area change its character, is development of the area restricted by other planning issues eg heritage, industry etc?