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  1. M

    allocating apartments to shareholders

    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...
  2. M

    Taking the next step

    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...
  3. M

    NRAS approval

    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...
  4. M

    Structuring the terms of a contract

    Hi guys, Just wanting to get an idea from anyone out there who may be able to give me advice on how best to structure a deal i'm looking at. It's a commercial warehouse in Melb that looks like i can get a good whack of apartments on. I know the vendor and he will not budge on price but...
  5. M

    Holy S***!! my IP burned down!!

    Hi guys Got a call from the council yesterday to tell me my IP in regional Vic had been burned down by vandals that night. I was pretty shocked as i live in SA but was wondering if anyone knows anything about my rights/responsibilities etc? Basically it was an old house that would be...
  6. M

    Trying to expand portfolio

    Hi Guys, Hopefully some fresh eyes on this will result in a way forward. The scenario is this: My brothers and i own 2 properties in a family trust. One is a house in inner melbourne and the other is a house in our home town in country victoria. The Melb house has just been valued...
  7. M

    Lo doc for First home buyer

    Hi Guys, My brother has just got back from living in New Zealand and is looking to purchase a property in Aus before the FHOG is reduced. he is looking to spend in the mid to high $300k mark and has a fairly decent deposit but due to some inconsistent work in NZ hasn't got much in the way of...
  8. M

    Feasibility Study

    Hi Guys, To all the developers on the forum. I'm in the throws of putting together an application for the bank to build 9 apartments in Melbourne. I'm ticking through the list of requirements from my bank (Westpac) and have never had to do a feasibility study before now as i've never had a...
  9. M

    Trades in Adelaide.

    To all the SA folk on the forum: Just wondering if you guys could recommend a good kitchen company for a reno i'm starting in Adelaide soon? I'm wanting to get it made and then fit it myself. I've used Bunnings and ikea kitchens in the past but thought someone might have a better tip...
  10. M

    Sourcing building products from China

    Hi Guys, I'm a builder with quite a few small to medium projects to be started this yr. I've actually heard about other developers buying their pc items in bulk at huge discounts in China. eg. toilets, electrical appliances, kitchens, door furniture, towel rails etc... Have any of you guys...
  11. M

    Breakthrough with my development!!

    Hi Guys! I just couldn't help but post this as i am so excited my development is getting close to reality! Basically i had a DA approval for 6 apartments in Brunswick. After getting all my quotes back, due to having a basement carpark the deal wasn't good enough for the banks. There was...
  12. M

    Interest rates for business banking

    Hi all, Just wanting to ask what the best interest rate and product is available for property held in a company? I'm on 8.74% at the moment with westpac and they say it's the best they can do. Does that sound excessive or pretty standard? Thanks in advance Morty
  13. M

    Equity partners. How to find and how much to offer???

    Hi Guys, Didn't know where to post this but hopefully i can get a few opinions. Not trying to sell anything, just want advice. I own a dev site with full DA for 6 townhouses in Melb. Pretty sought after spot, great city views, you get the picture. Valued at around $2.8m on completion...
  14. M

    Cost breakdowns and valuations

    Hi guys, I'm currently putting together an application for the bank (for 6 apartments) who are requiring a bank panel valuation and a full cost breakdown from a QS. The valuations are being quoted at around $3k and my cost breakdown and dep report from a QS at around $3500. Does anyone...
  15. M

    Renting from own trust

    Hi guys Just a question about forming a trust and renting the property back from the trust? I could get really good money to rent out my ppor at the moment and move into a smaller property bought through the trust. What are the implications, pros & cons of this and would it be easy enough...
  16. M

    Development/building loans, I'd really love your opinion!!

    Hey guys Put this in the finance section but badly need advice so i've banged it on the general forum as well. (Hope that's allowed?) I've been checking out this forum for a fair while now and have learnt a heap by reading everyones posts, especially loving the interviews! With so much...
  17. M

    Finance dilemma

    !!!Development Finance dilemma!!! Help please!! Hey guys I've been checking out this forum for a fair while now and have learnt a heap by reading everyones posts, especially loving the interviews! With so much knowledge out there i thought i'd post my dilemma and any input would be...
  18. M

    Development finance

    Hi all! Just wondering if anyone could recommend a good lender for a development project of 6 apartments in melb. I'm looking to borrow around the $2m mark (big step for me!!) including capitalising the interest into the loan. I've spoken to a few lenders westpac for example but was told i need...
  19. M

    Capital Gains Tax on sub-divided land

    Hi Guys! I'm sub-dividing my ppor into 2 lots and intend to sell off the backyard so to speak when it's finished. Will i be required to pay CGT on this sale? Any advise would be much appreciated. Cheers morty
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