Finance
Residential vs commercial lending.

No point looking at anything if the purchaser is not utterly understanding of HOW much they can borrow, HOW much equity or cash they have and HOW much they need to fund deposits, keep LVR’s in check, hard and soft costs. Ultimately that determines where and what type of development they should look for…[Read more]

I don’t mind buying carparks.

As long as your buying the entire carpark.

But no a single carpark for a investment. Poor choice in my opinion. A limited recourse loan and 100k would get you into a 300-400k property easily, which would be a better investment.

No credit history either? (No bad credit history?) I would think nab personal loan 12.99 percent for 7 years could get you pretty high. Limited to 55k. You could prob get 30/40k with a same day approval. Valid reason May or may not be family emergency.

Please feel free to disclose said address. If you want people to do what you say and check.

1, 924,000

– costs of 1,380,000

= 544k gross profit

544,000/1,380,000
= 0.394 x 100 = 39.4 % ( and he said approx 40%)

His gross return profit calcs are fine. I think you need to change the batteries in your calculator.
And why would he post the address online. If you wanted to know badly a PM would suffice and if you really wanted to know…[Read more]

He is correct. If you withdrew 200k from your investment property and it’s used it for personal purposes. Then it cannot be seen as a tax deduction.

If you withdrew 200k and used it to pay for the deposit and stamp duty of another investment property then it is tax deductible.

This is why, offset accounts can be beneficial then paying off…[Read more]

Local council should have the details of who owns the property.

Or write down the address and do a title search on the property for the cost of between 11 and 25 dollars.

Usually boarded up houses are government housing as they are usually the only people that board up their houses.

Are you borrowing to fund the purchasing or are you using cash/ line of credit etc.

So you have gone and got
A) a planning use application
Then
B) applied for building rules consent (usually private certified)
And the c) got granted development approval.
Then it falls on your surveyor and his license that if he pegs the boundary walls (even party walls). He is then certifying they will be built on that exact boundary.…[Read more]

Hi ballerina

Once council have granted a land use application (DA). Then it is not their authority to say if community title division will happen before the construction or after the construction.
You can pay all your division fees, water fees, have your water meters connected and the block level clear and pegged and you can get the community…[Read more]

– do the land division first into 6 blocks of land.
– increase the equity in the deal.
– if the houses are stand alone, split building contract into 6 contracts one for each property.
– should be able to do resi lending (after titles are issued)

Cons are that it takes a additional 6 months or so whilst you wait for your land division to go through.

Walk away I would do. You have no money lost in the deal and have a get out card. I would just take it and move on. It’s often about the deals you don’t buy that make a successful property investor. I would think that it would
Be to much stress to nut out a deal for a deal where you have lost no cash/money at all in.
If you had a non refundable…[Read more]

Use a website called SA council maps. It will give you the policy code that your house is situated it.
Use the onkapringa development plan available online to look up that specific policy code.
Read about the individual requirements for the policy area. Your property May or may not be able to be subdivided. You’ll be looking at hammerhead…[Read more]

Get your supervisors license for residential construction in the future and for your 2nd house. Start researching properties that can be subdivided.
Schedule a meeting with a local planner in the area and ask them how to read and understand the local development policies, development guidelines. This will help you find areas which development is…[Read more]

That you should always buy near Sydney harbor.
Hindsight….

– are you working out of home/ rental. Claim office expenses, car expenses all that jazz.
– trust should be setup so it owns shares in the company. If you currently earns 250-350k on individual tax. You are paying to much.
If you anticipate earning regular that amount 250k-350k. Might be better to structure it so
Once you set up the trust owns…[Read more]

No offense to everyone’s books/seminars and courses. Which make up a portion of the learning pie.
My fastest learning was when I physically got to speak to people with a number of properties – 4/5 minimum. And speak to people who have 20 properties and 100 (unlikely to find someone who will give you the time of day)
You’ll learn basics of people…[Read more]

As a beginner property with a bit of upside. I’d look for properties that you could dual occupancy in the future.

So that means look at large bedroom places 4 bed etc
Maybe dual driveways.
Dual side Carports (or room for them)
Combined larger houses. (House that was previous semidetached) and someone connected it and then you could separate it…[Read more]

Ps your sentences are confusing because you go from past tense, as in your completed it. Into future tense stating what you are going to do.

Jimbo

Your trust bought the land.
When you built the units. Did the units end up back in underneath the trust?
they should of: as a discretionary trust could then give a payment to yourself as a individual. Which is wise to do up to 180k. (The point in which company tax becomes a better avenue for paying tax)
You could of missed out on tens of…[Read more]