Recent content by markj

OK - found details for Nick Moustacas which is who I was trying to track down.

Can anyone recommend a accountant \ solicitor for trust setup in Sydney.

Cheers Rolf

Hi Bradsdad, Purchase under trust Are partner 1 & 2 the only trustess & benificiaries? The benificiaries are set up as Benificiary 1 Family trust belonging to Partner 1 Benificiary 2 Family trust belonging to Partner 2, Befificiary 3 Company Commercial Property what is proposed/current...

Thanks for the responce Belu, Is actually a unit block, hence the smaller return. The current rents are also very much undercapitalised. Estimated return is approx $249,000 after $200K renovations based.

Just want to know if this finance has legs for approval. Partner deal Purchase under trust Commercial Property Current annual return = $148,000 approx 5% Property Value $3,300,000 Partner 1 Cash = $400,000 Income = $160,000 per year No current mortgage or other finances...

I have come up with a modification on original thought of the Vendor payback situations. The property that I would like to purchase needs a lot of renovations. So my proposal in the contract would be that the vendor pay a company for the renovations prior to settlement. The property will...

Thanks QLDs007 I have posted this in the general section Yes the insurance has been approved. The property is actually a lot higher in price than the 200k and is above 3 mil. I believe market value (in the current condition) that I have based on rental return is around the price or above...

Thanks Shady, I am interested in what the banks will consider the purchase price if I am asking the vendor to pay 200K for repairs. Will they asses the price with the the 200k or consider the payment payback clause in the contract as a deduction from the real value.

Thanks Witz I will be having a chat to the solicitor. In reality the property is above 3 mil and the insurance is 60K and the payback I am looking for is around 200K including the insurance payout. I am laying down 20% deposit, covering the addional 10% as it's commercial. I have covered...

Its all about pulling back cashflow to cover some risk whilst showing full purchase price on account ot bank.

I have a property I am interested in that was partly burnt out due to internal fire. There is an insurance payout of around 20,000 for repairs. Can I make a settlement on the property (lets say it's worth $200,000) and get the vendor to payback to me on settlement the 20,000 from insurance...

I have a property I am interested in that was partly burnt out due to internal fire. There is an insurance payout of around 20,000 for repairs. Can I make a settlement on the property (lets say it's worth $200,000) and get the vendor to payback to me on settlement the 20,000 from insurance...

Joanna, Thankyou for taking the time to respond. Yes it's company title for the unit block and thanks for the tip in this area. Re Unit trust. I was thinking the unit trust with company under the trust, bucket company sounds more like it as it's sole purpose would be to purchase the...

Hi Geoff, Thanks for the good advice. May be worth furnishing 50% of the units and 50% unfurnished to see the uptake of the furnished ones first. Thanks again Mark