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Hi all, I am looking at a property which is only partially completed due to the owners running out of funds. I need a builder who can complete the work (plumbing, electrical, painting, etc). Can anyone recommend a good builder in the Collaroy area of Sydney that can do the job...

Hi all, Sorry I didn't know where to put this post so I thought it best to pop it here. Does anyone know a good builder in the Collaroy area of Sydney? I am looking at a property which is only partially complete and would like to get a quote to finish the job. Any help would be much...

Put me down for 2 thanks

Ker what is the process of recovering your money if the deal does go sour? So if things go south, being a second mortgage or third mortgage, you stand down the end of the line in terms of getting your money back. And getting a discount on the uncompleted unit. Will you be in limbo until...

I guess this is not strictly about development. Its more about creative financing solutions for developers and investors. You can demonstrate why developers pay the higher interest that they do to get the job done. I think its another investment opportunity to create some cashflow for people who...

Hi Joanna, Thanks for that. In terms of just passing on the opportunity that was presented to me, I didn't have the necessary knowledge to demonstrate the viability of the deal. What I would like to suggest is if there is enough interest we can have it as a topic for our next meeting in...

Hi all, I certainly appreciate the discussion around this. I will go back to get more information along the lines of the developer's situation. Please understand it is not my intention for anyone to make a decision based on my posting on this forum. If you want more information regarding this...

thefirstbruce, I didn't go into that. Questions like that I think need to be looked at on a case by case basis. Why do people get bridging finance? Money he was expecting to come though from another party didn't eventuate as promise leaving him in a lurch, banks dragging their feet in valuing...

Hi Les, It does seem like a coincident but I can assure you its not the way the deal was intended when I spoke to them about it. I don't think the developer is interested in giving any sort of discount for the property. He is only trying to solve his short term financing problem with the...

Hi Les, To clarify the points you raise. The use of the term default seems to be the sticking point here. So I will try to explain further. When you lend the money to the developer a contract for exchange is written up to show you purchasing the unit at $400,000 with a $250,000 deposit. In...

Hi, Peteb is correct in that you would be purchasing a property valued at $650,000 for $400,000. So for the sake of paying you interest of $22,500 he would stand to lose $250,000.

Hi, The unit is "sold" to you at $400,000 on default. You just hold the contract at the time of giving him your "deposit".

Hi all, I was just offered this deal but am not in a position to be involved in it. Thought I would pass it onto someone else who might be interested. It seems like a good deal and if a discussion occurs then I would be happy to learn from it. Details are as follows Background Developer...

Hi all, A client of mine is a finance consultant. Funnily enough the topic of property investment came up. Apparently he deals with bankruptcy and distress sales. He also deals with structure(?) financing deals for developers (like mezz but you get first mortgage). If anyone is interested...

Driveway is just two grooves in the earth from the car tyres. It is slightly inclined about 5 - 10 degrees not much really. The length of the driveway is slightly more than the length of a family size sedan I suppose. This is from memory but I think that the difference would not be that much.

Thanks for that I will suggest using the Loctite. Regarding the driveway from memory I think it was just earth. What would be a cost effective solution to resolve this problem?

Hi all, Thanks for that. I just find it hard to believe that all the door room handles can just fall off like that. Can anyone recommend a handyman in Redcliffe. Its a bit hard to fix it myself from Sydney.

Hi Geoff, I can understand one falling off but apparently all four bedroom handles fell off. This doesn't seem plausible to me. Do I have to pay for this or should I make the tenants pay?

Hi all, I would appreciate some advice regarding the tenant I currently have. They are wanting me to fix all sorts of things around the house that seem excessive to me considering I renovated the place before I let it out. They say that all the door handles to the bedrooms have fallen off and...

Hi, I know that there are some excel users in here. Would just like to know of anyone who does VBA programming. I have a small job that I need help with and am happy to discuss rates. Please pm me. Cheers