Similar topic on this thread, but different response!
http://www.somersoft.com/forums/showthread.php?t=36543
http://www.somersoft.com/forums/showthread.php?t=36543
Investment Opportunities
- Thread starter sparky23
- Start date
How about the Melton deal...seeing as there's a few Melton investors on this forum, they might be able to give their take on how good the deal is?
Hi JIT
No problem, this display home is on Thoroughbread Park, 187sqm, land 412sqm
2 year leaseback at 7% so low holding costs whilst the Capital Growth occurs.
Highest quality and built to display home specifications.
MELTON DISPLAY HOME - $266,128
* 3 Bedroom
* 2 Bathroom
* Al fresco area
* 2 Garage With Remote
* 2 Car Bay/s
* FIRB Approved
Three bedroom house offering two bathrooms, walk in to robe to main bedroom, sliding robe door to the bedrooms, european oven, hotplates, rangehood, dishwasher, ceramic tiling - to walls of kitchen, bathroom, ensuite and laundry, gas hot water system, double garage with remote control door, glasswool batts to ceiling, 45 litre stainless steel laundry tub, gas ducted heating to bedrooms and living areas, 1.5hp split system air-conditioner (cooling only to living area) double power points, 2 tv points, tv antenna, one pre-wired telephone point, smoke detectors, RCD Safety switch and circuit breakers, front door security, colour video phone high resolution intercom, front and rear landscaping, clothesline, wing fences and gate. Melton is located on 35 minutes away from the CBD of Melbourne. Close to Port Melbourne, the largest shipping port in the country and Tullamarine and Avalon Airport. Known for it's clean, crisp air, beautiful picturesque landscapes and great lifestyle. Situated on the Western Freeway Melton is noted for it's semi-rural character, charm, lifestyle and sense of nostalgia. Surrounded by undulating grassy plains with views of the Great Dividing Range. Growth will only increase in the years to follow and Melton will prove to be an investment and lifestyle destination of choice. Land - 10% deposit payable initial $1000 with contract, balance of deposit payable 7 days after finance approval. Building - Progress payments to commence after settlement of land. Finance approval to be obtained within 21 days of acceptance of the land and building contract. Settlement of Land - 21 days from finance approval. Display Home Leaseback - 2 year leaseback by developer at 7% pa gross of the total house and land package price. Approx 17 week build time!
I can email plans etc to interested parties. I hope to have a web-site set up soon so everything can be viewed properly.
Sparky
No problem, this display home is on Thoroughbread Park, 187sqm, land 412sqm
2 year leaseback at 7% so low holding costs whilst the Capital Growth occurs.
Highest quality and built to display home specifications.
MELTON DISPLAY HOME - $266,128
* 3 Bedroom
* 2 Bathroom
* Al fresco area
* 2 Garage With Remote
* 2 Car Bay/s
* FIRB Approved
Three bedroom house offering two bathrooms, walk in to robe to main bedroom, sliding robe door to the bedrooms, european oven, hotplates, rangehood, dishwasher, ceramic tiling - to walls of kitchen, bathroom, ensuite and laundry, gas hot water system, double garage with remote control door, glasswool batts to ceiling, 45 litre stainless steel laundry tub, gas ducted heating to bedrooms and living areas, 1.5hp split system air-conditioner (cooling only to living area) double power points, 2 tv points, tv antenna, one pre-wired telephone point, smoke detectors, RCD Safety switch and circuit breakers, front door security, colour video phone high resolution intercom, front and rear landscaping, clothesline, wing fences and gate. Melton is located on 35 minutes away from the CBD of Melbourne. Close to Port Melbourne, the largest shipping port in the country and Tullamarine and Avalon Airport. Known for it's clean, crisp air, beautiful picturesque landscapes and great lifestyle. Situated on the Western Freeway Melton is noted for it's semi-rural character, charm, lifestyle and sense of nostalgia. Surrounded by undulating grassy plains with views of the Great Dividing Range. Growth will only increase in the years to follow and Melton will prove to be an investment and lifestyle destination of choice. Land - 10% deposit payable initial $1000 with contract, balance of deposit payable 7 days after finance approval. Building - Progress payments to commence after settlement of land. Finance approval to be obtained within 21 days of acceptance of the land and building contract. Settlement of Land - 21 days from finance approval. Display Home Leaseback - 2 year leaseback by developer at 7% pa gross of the total house and land package price. Approx 17 week build time!
I can email plans etc to interested parties. I hope to have a web-site set up soon so everything can be viewed properly.
Sparky
This is a great example of how things should be posted in this section... It contains all the basic info & people who are interested can PM you. Well done Sparky
Steve
I think Sparky just wants to sell some of her properties, in particluar.
I suppose if she had come upfront on this she would not have got all these negative comments. It is very obvious that she is trying to sell your (your friends) properties given that the comments she made over the forum.
I did not know that people could sell these things on this forum. Tomorrow I am going to list mine here.
Good Luck.
I suppose if she had come upfront on this she would not have got all these negative comments. It is very obvious that she is trying to sell your (your friends) properties given that the comments she made over the forum.
I did not know that people could sell these things on this forum. Tomorrow I am going to list mine here.
Good Luck.
Hi Analyst
In the end I decided to try not to sell my own properties if possible as my intent was always to build and hold as much as possible, though I may have to let Yanchep go as I need some cashflow for ongoing projects, hence the idea to see whether I could refer other peoples properties instead. I didn't know you could list stuff like this either hence the first post where I thought people might just want to ask and pm me but people asked for examples so I popped some on here.
I have tried to be upfront all the way through albeit I may have gone about it a little clumsily!
I will be sorting out a website soon so people can just look at that instead and make up their own minds from there.
Sparky
In the end I decided to try not to sell my own properties if possible as my intent was always to build and hold as much as possible, though I may have to let Yanchep go as I need some cashflow for ongoing projects, hence the idea to see whether I could refer other peoples properties instead. I didn't know you could list stuff like this either hence the first post where I thought people might just want to ask and pm me but people asked for examples so I popped some on here.
I have tried to be upfront all the way through albeit I may have gone about it a little clumsily!
I will be sorting out a website soon so people can just look at that instead and make up their own minds from there.
Sparky
Hi all,
Rule 7 from the guidelines for the caveat emptor section
Sparky,
I consider the above post about the Melton property as a poor investment.
Why would an investor want to buy a new property on 412 sqm, a long way from anything??
Considering that a simple search on REA.com shows that I could purchase a 3 bed 2 bth house on a 6-800 sqm block within walking distance of the station for a much lower price (some advertised for $179k).
What makes your property a good deal??
This bit of plain advertising annoys me.
Can you provide some evidence for this?? And if any of it were true, then why wouldn't the properties that are cheaper on larger blocks of land closer to facilities be much better buys???
bye
Rule 7 from the guidelines for the caveat emptor section
Sparky,
I consider the above post about the Melton property as a poor investment.
Why would an investor want to buy a new property on 412 sqm, a long way from anything??
Considering that a simple search on REA.com shows that I could purchase a 3 bed 2 bth house on a 6-800 sqm block within walking distance of the station for a much lower price (some advertised for $179k).
What makes your property a good deal??
This bit of plain advertising annoys me.
Can you provide some evidence for this?? And if any of it were true, then why wouldn't the properties that are cheaper on larger blocks of land closer to facilities be much better buys???
bye
I think it is nothing wrong to sell here. Someone wants to mind others regarding opportunities as long as the buyer and the seller are happy with the deal. Sometimes in particular the intrastate investors could not know what the other state offers. For example, I want to move to Melbourne and wants to swap properties with someone wants to move to WA. Here could be a easy way to do.
Dear Sparky
I have been asked becasue on IP in Melton to comment on this. So I can do fairly so can you confirm:
- stamp duty is not payable and $266,128 is total price.
- at 7% what per week is the rental
- is allmaintenace the lesee during the display home period
- will builder repaint, steam carpet, etc.. essentially bring it back to new condition of handover
- does title handover clean free of all cavets to owner
- is lease a standrad lease
- does GST apply to the lease beign commercial
Thanks Peter
Hi Peter
With regards to the questions re Melton, firstly the display home has now been sold, 4 display homes have sold that were available when I began this post. There is another house available at Melton at the same price with a rental vacancy guarantee.
Here are some answers anyway:
1. Stamp Duty must be paid on the Land content only in these Land and House Packages in addition to the purchase price of the Land.
2. If a Package has been purchased after the construction of the House has started, the Stamp Duty is assessed upon the combined value of the Land and the Works in Progress on the site i.e. the value of the improvements, at the time the Purchase Contract is signed.
In respect to a Display Home:
1. The rent income is simply calculated by multiplying the Purchase Price by the yield (percentage return on the investment) e.g. $400,000 X 7% Net Per Annum = $28,000 (with nil deduction of management fees).
2. The Purchase Price of the Land and House does not include GST because it is not payable on residential housing.
3. The Investor is responsible for the payment of Council and Water Rates.
4. The Lease will be prepared by the Builder’s Lawyer and the parties will be the Builder (Lessee) and the Investor (Lessor) and all maintenance is the responsibility of the Builder during the entire Lease Term.
5. The Land Title at settlement must be clear of all Caveats to allow the Transfer and Registration of Land to occur.
Hope that helps though no longer relevant to this particular property.
Sparky
With regards to the questions re Melton, firstly the display home has now been sold, 4 display homes have sold that were available when I began this post. There is another house available at Melton at the same price with a rental vacancy guarantee.
Here are some answers anyway:
1. Stamp Duty must be paid on the Land content only in these Land and House Packages in addition to the purchase price of the Land.
2. If a Package has been purchased after the construction of the House has started, the Stamp Duty is assessed upon the combined value of the Land and the Works in Progress on the site i.e. the value of the improvements, at the time the Purchase Contract is signed.
In respect to a Display Home:
1. The rent income is simply calculated by multiplying the Purchase Price by the yield (percentage return on the investment) e.g. $400,000 X 7% Net Per Annum = $28,000 (with nil deduction of management fees).
2. The Purchase Price of the Land and House does not include GST because it is not payable on residential housing.
3. The Investor is responsible for the payment of Council and Water Rates.
4. The Lease will be prepared by the Builder’s Lawyer and the parties will be the Builder (Lessee) and the Investor (Lessor) and all maintenance is the responsibility of the Builder during the entire Lease Term.
5. The Land Title at settlement must be clear of all Caveats to allow the Transfer and Registration of Land to occur.
Hope that helps though no longer relevant to this particular property.
Sparky
Hi Bill
I posted details because some people have asked for details, I can't please all of the people all of the time but I can have a jolly good try!
A lot of people on the forum seem to think that Melton is a good place to invest and plenty of sales are taking place, approx 50 just on realestate.com over the last 4 weeks so other people are of the same opinion.
There are properties costing less just as there are properties costing more than the ones I can tell people about. Some people prefer to invest in new properties rather than old properties, both are good choices and the new builds will cost more. Some are on larger blocks than 412sqm and some are on smaller blocks 300sqm and below. Some are units and villas not houses.
I am showing people opportunities in places that have been well researched and shown to be places that are good to invest in. The properties are comparable with other properties that are available and if they are not time poor they may wish to do a lot more research and decide another property in the area will make a better investment for them. I can at least point them in the right direction and once they have all of my details including plans etc they can do their due diligence to see how it stacks up. If they are happy with what I provide and don't have the time to look further they may choose my option. Either way they are buying into good areas that will do well.
Sparky
I posted details because some people have asked for details, I can't please all of the people all of the time but I can have a jolly good try!
A lot of people on the forum seem to think that Melton is a good place to invest and plenty of sales are taking place, approx 50 just on realestate.com over the last 4 weeks so other people are of the same opinion.
There are properties costing less just as there are properties costing more than the ones I can tell people about. Some people prefer to invest in new properties rather than old properties, both are good choices and the new builds will cost more. Some are on larger blocks than 412sqm and some are on smaller blocks 300sqm and below. Some are units and villas not houses.
I am showing people opportunities in places that have been well researched and shown to be places that are good to invest in. The properties are comparable with other properties that are available and if they are not time poor they may wish to do a lot more research and decide another property in the area will make a better investment for them. I can at least point them in the right direction and once they have all of my details including plans etc they can do their due diligence to see how it stacks up. If they are happy with what I provide and don't have the time to look further they may choose my option. Either way they are buying into good areas that will do well.
Sparky
It really can be both. Selling is OK- as long as there is also education.
http://www.somersoft.com/forums/showthread.php?t=89
I had a "flock of bats" for sale. I posted in CE, and answered questions as they were raised- privately and publicly. There was interest. I responded to a few private enquiries from forumites.
But I was not a desperate seller, and I was prepared to wait for a better offer. I got a fair price- it was not a bargain, and it was not too high.
Hi Geoff,
The thing that has me annoyed about Sparky's posts, that are different to most Caveat emptor posts, is the advertorial aspect to them.
Unlike how you stated straight up what was for sale, the yield and how much you expected for them (you also stated they were heading for auction in your first post).
Sparky's posts still come across as "have I got a deal for you, just contact me".
When answering Ausprop, I did not mean people could not/should not sell. I meant that it is not (or in my opinion should not be), a place where all sorts of business is touted, as in "just sell". I hope that is clearer.
In this thread, Sparky has properties for sale, that do not belong to her, apparently all over the country, yet when questioned about why the particular properties would be a good investment, has just general answers, including information "off the flyer".
I think it detracts from the forum to allow this type of advertising, and could lead to many others following, trying to sell commission based product.
I hope this helps explain my thinking here.
bye
The thing that has me annoyed about Sparky's posts, that are different to most Caveat emptor posts, is the advertorial aspect to them.
Unlike how you stated straight up what was for sale, the yield and how much you expected for them (you also stated they were heading for auction in your first post).
Sparky's posts still come across as "have I got a deal for you, just contact me".
When answering Ausprop, I did not mean people could not/should not sell. I meant that it is not (or in my opinion should not be), a place where all sorts of business is touted, as in "just sell". I hope that is clearer.
In this thread, Sparky has properties for sale, that do not belong to her, apparently all over the country, yet when questioned about why the particular properties would be a good investment, has just general answers, including information "off the flyer".
I think it detracts from the forum to allow this type of advertising, and could lead to many others following, trying to sell commission based product.
I hope this helps explain my thinking here.
bye
Hi Bill
The areas I am suggesting seem to be on a par with the areas other investors are looking to invest into and some of them, such as Melton already have a lot of current information posted.
People don't have to read the post if it doesn't interest them and I don't know why people who think it shouldn't be here are helping to keep it alive!
Sparky
The areas I am suggesting seem to be on a par with the areas other investors are looking to invest into and some of them, such as Melton already have a lot of current information posted.
People don't have to read the post if it doesn't interest them and I don't know why people who think it shouldn't be here are helping to keep it alive!
Sparky
Thanks for that Bill. I can see where you are coming from.
This thread has been a learning experience for all of us.
Sparky was given more latitude than some others, because she had been a regular poster.
Granted, the posts were spammy. But, by making such posts, I suspect that response to her initial offering would have been limited.
I suspect that this is not the right forum for getting people interested in this sort of deal.
But if it is- it should be based on a detailed disclosure of the information. The sort which has been forthcoming later in the thread.
After all, there have been deals going in the chatroom, or in forum based social networks, for years. Without any public scrutiny whatsoever.
We need to have one thread, one property, all details disclosed.
