Just met with our town planner last night. We won’t be able to fit 3 units on the site – all because we are 4 feet short in the frontage!

Thanks for the advice on Bankwest – I will pay them a visit.

Thanks,
TK

I have spoken to the following banks:
– HSBC
– St George Property Finance
– ANZ
– Westpac
So far only St George is willing to do the deal with no pre-sales, however they don’t lend based on GR. I will be speaking with…[Read more]

Which are the banks that are able to lend to 75-80% end value?

Thanks,
TK

We are currently looking at a property in Mount Waverley in Melbourne. The property is a house set on 714m2 of land and there is legal access to the land at the back of the house. If we do buy we plan to subdivide and sell the vacant block, then keep the house for rental.

Appreciate it if anyone with subdivision experience in this…[Read more]

We are currently looking at a property in Mount Waverley in Melbourne. The property is a house set on 714m2 of land and there is legal access to the land at the back of the house. If we do buy we plan to subdivide and sell the vacant block, then keep the house for rental.

Appreciate it if anyone with subdivision experience in this…[Read more]

Thanks for the reply. Will keep them in mind.

Thanx again,
TK

I am also looking for a quality accountant. Much appreciated if you could PM me the details of yours.

Thanx very much,
TK

You’re right. Cash flow should look like this:

– Asking price: $140,000
– Closing costs @ 5% $7,000
– Rent: $13,780 p.a.
– Outgoings: Body Corporate ($3,612 p.a.)
Interest payment @ 8% interest only ($8,960 p.a.)
Council & Water Rates ($668 p.a.)
Assumes 80% loan
– Net cash inflow: $540.00
– Cash on cash return: 2%

Doesn’t look that…[Read more]