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still going very good I was reading this thread again and want to report progress: 1. The restaurant is going good. 2. Apart from my friend and his wife, they have 3 more employees. 3. They have got visa approval for another chef to come from India. 4. The total cost of buying plus...

Update The new restaurant was renovated fully and started 3 weeks back. My friend has got very good response. He is doing well and had to increase the staff with all his old and lot of new clients. Has applied for the liquor licence, most probably will get it by mid Oct.

Hi all, My friend bought this property. Actually, his accountant set an investment trust (friend's wife is director and he is nominee) and the trust bought the property financed by CBA at 70%LVR. Trust is leasing the property to the business owned by my friend and his wife. Currently being...

Back with the questions Hi all, I just searched this thread (started by me few weeks back). So, after due deligence, my friend is going to buy this commercial property for his dine-in restaurant. PP is $260+GST. Question 1: The broker has indicated, If my friend buys the property in his...

I joined OneSteel in Apr 2007, and am hearing about uncertainity of its existence even before I came here. At the moment, I think it is not closing down in near future. Company just put $65m to repair the furnace and heaps of other money in other projects including a desalination plant. They are...

Lizzie, If I remember correctly, I read in one of your post that you stayed in Whyalla for some time. His current location is the down-town street which is dying and many shops are empty. So he wants to move to better part like Playford avenue or Essington Lewis Avenue, where more and more...

Thanks for the suggestions. To make the discussion more relevant: At the moment, he is leasing a place for his takeaway outlet. It is not suitable to be converted into sit-in restaurant. However, he has got some tables where some people like to eat. There is not a proper toilet and proper...

He is already in the business which is going good (in small scale). The bank before approving the loan, asked his accountant to provide the cash flow statement and last two yrs tax return. He has got appliances etc already in use and of course the cashflow for running the day to day operations...

I think I read somewhere quite a while ago: Even if you don't X-col, the bank has right on your other properties against default on one property, providing the other property is also with the same bank. Is that correct? So....the interest rate of 8.35% (3 yrs fixed) is OK? even after the rate...

Thanks for the quick reply. He is ready for cross-col with the PPoR. The bank (CBA) is ready to lend at 8.35%, but seems too high. My original questions was more towards the structure for max tax benefit. For eg. He deposits his 50K in PPoR loan releasing more equity. And then bank lends him...

For a friend of mine: PPoR value 180K Loan balance on PPoR 100K (CBA) Cash Available 50K Running a takeaway restaurant on a leased property for the last 3 yrs. Wants to buy a shop for 260K (offer accepted) and start a proper restaurant (dine-in). Having sufficient cash (other than 50K...