Recent content by morty

Hey Timmy, I'm just finishing 11 over 3 levels and a basement and to say it's been challenging would be an understatement! The build side is the easy bit it's just the funding and the cashflow that has been a headache since the start. The banks hate owner builders and they have sunk the...

Hi TMNT, I had a fire lit in a rental property about 5 yrs ago whilst it was in between tenants. The house was deemed a write off but due to the fact i had 2 units already approved for the site it was a **** fight getting a claim out of them. It started with a recorded interview over...

Thanks for the answers and feedback guys. I can understand your points that it shouldve been sorted at the start, as this is what I now do with my company. This development however was bought when we were all in our early 20s (about 15 yrs ago) and didn't have a clue about property...

I did think of this Scott but as we are all young we have all thought about moving into them if we thought that we might sell down the track. It is a good point though. The related parties sale is weird though as we are all shareholders of the company, i can't see how that'd be deemed...

Hi Guys, I've got my accountant working on this currently but i thought some fresh and experienced eyes on it wouldn't go astray. I am currently finishing a development of apartments in melbourne. There are 5 shareholders on the project. We have sold half off the plan through a RE agent...

Hi Rixter, I have successfully done a number of these now and it has helped considerably in leveraging into bigger projects. it is however a complicated process and now that i have some equity behind me i think i will move away from it a bit. There's just a lot of legals to consider, as...

Thanks for your comments guys. LeoT good point mate and i absolutely won't be throwing all my equity that way! It's been too tough a road to build up and i want to keep pushing now that i'm seeing some results. Its just an avenue id like to explore. Rixter thanks for that. I knew someone...

Hi all, This is my first time back on somersoft for a long time. I've been busy building/developing and watching my family get bigger for the last few yrs so excuse my absence. I have finally found myself in the position i was aiming for when i first joined the forum, or a lot further down...

Hi Ian, I am a registered builder in Victoria but have spent the last 3 yrs living and building my own projects in Adelaide. I have seen this salt build-up/dampness on a number of newly built projects but only in SA. It usually occurs, as you mentioned on the edge of the slabs, in between...

Hi Ultan. I have up to 3 developments that I would like considered. Please email me at [email protected] Thanks mate Johnny

Build costs Hi Oscar, Have pm'd you Cheers Morty

Hi Oscar, It all looks great so well done. I must say though I'm baffled by how cheap your build costs are. I'm a builder/developer myself in melb and $250k for 3 units is hard to get my head around. I'm assuming you haven't included things like floor coverings, a/c, appliances...

Hi Guys, I do quite a few small developments in victoria and have one site that i have 4 units approved for. The numbers stack up ok but i was wondering if i had them NRAS approved they'd be a whole lot better! I might be way off the mark here as it may not be at all possible but how would i...

Yeah good point! Sorry guys I had previously thought terry was a broker. I'll ring him now. Morty

Yeah great points Terry, i def wouldn't proceed on broker's advice and am wanting to set this up properly. If anyone out there knows a good solicitor for a deal like this please let me know. Regards Morty