Firstly just because the land had a preivous DA doesn't mean you will be able to get DA again. Policy changes and you will not be able to get DA second time around. An example is the old dual occupancy code in Willoughby which changed several years back.

Talk to a town planner familiar with the council. If we are talking Hornsby – your man is Ian…[Read more]

Did I read that right – 2 bedroom and its 48sqm?

I would prefer large sqm over the idea of double storey. The one negative with the first unit is that it a ground unit but then again its got the deck area.

Regards

Shahin

Which suburb? What does the strata on each look like and whats the sqm of each? Are they the same price?

Regards

Shahin

If you are a Permanent Resident then that's fine. 

There are no issues with the above – why did the brokers say that they were not happy to structure it this way?

Why are you looking to structure the application that way?

Regards

Shahin

Some use Residex and some use PR Data – these do the job too.

Regards

Shahin

Probably 7 out of 10 times I do an APM report to give me an idea of comparable and recent sales in the area. From there you would do add due diligence to determine the value of the property.

Regards

Shahin

In short having an IO loan helps with servicing with several lenders as many take the existing repayments instead of the principle and interest repayments. 

Do you have permanent residency or are you here on a Visa? There are restrictions to consider for non-resident applicants. 

Regards

Shahin

Is this in NSW?

Regards

Shahin

Hi Sam,

I'm not aware of lenders going to 95% (unless its a lender not in the broker distribution network such as BoQ) however doubt it. 

You are correct about the cons but a lot of people have a buy and hold strategy. Now if you hold onto the property for 10 years then it becomes a 'normal property'. You can do with it as you like but obviously…[Read more]

Hi Ashley,

Are you a town planner?

Regards

Shahin

Not really. Investing via an SMSF has many benefits but this is not specific to NRAS.

From a finance perspective many lenders will go to 90% on NRAS properties. If you are looking to purchasing something for $320k then you will need a minimum deposit of around the $38k mark. 

Are you across the pros and cons of NRAS?

Regards

Shahin

Hi Mikko,

Don't use a private valuer! 

Firstly, the bank takes and uses their own valuer so no point in getting your own valuation with company "abc" if the bank is not going to use this.

Secondly, most banks offer free upfront valuations so its win/win. 

Talk to your banker and broker and see why you are paying 6.10% and about the upfront…[Read more]

NRAS has many benefits. The problem is that many developers understand this and overprice the property. This in turn affects the capital growth that you will get from the property because you have already started in negative territory. 

I am a fan of NRAS but there are very limited stock I would buy as the majority (particularly those in…[Read more]

It depends on how the application is structured. If you want to use it as a house then it needs to be submitted that way. For example, you cannot use the lease of day care as part of the servicing. 

Regards

Shahin

Most banks price on risk – i.e. LVR so if possible try and get an upfront valuation (its free with most lenders) to see where you stand.

Regards

Shahin

Challenging valuations are not easy but can be done. You only get one shot so definitiely have a solid plan of attack before speaking to the valuer. 

Good luck and let us know how you go.

Regards

Shahin

There is no way an accountant would charge $1k for one property – good to know exactly how many properties we are talking about.

Regards

Shahin

The more you can build the better. 

Regards

Shahin

Not trying to disagree but I don't think you should look at it that way. If something comes up and you need to sell the dwellings then you need to ensure that the numbers add up?

Re construction costs you also need to factor in council fees, contribution fees, site costs, demolition, fencing, concreting, driveway, etc. Not just the dwelling…[Read more]

Here is the thing – you will never hear JUST good feedback on a builder. This is because they use contractors and you could imagine some are good and some are bad. Some stuff up on the tiling, some stuff up on other things. 

Whatever builder you choose you need to understand that you need to project manage each step of the building process.…[Read more]