My property journey – USA and Mackay Strata Titling

So the two properties in Memphis are now settled.  So far it seems all in order. I received the titles in the post and can also check an online database.  Tenants are in place. The only delay is finalising the Memphis bank account which has run into a few snags but nearly there.

In the final stages of getting the loan approval for the Florida.  They have really been putting me through the ringer on this one.  Lots and lots of documents.  It is going to get last minute as settlement date is the end of April and they are really struggling with the negative gearing concept over there!!

Meanwhile back in Oz, i have finally got the firewall done, so I can sub divide the two properties in Mackay.  Long, long process but on the home run now that the council have done their thing!  I will get a valuation when I am done for interest!!

About Mark Taylor….

My property journey – USA and Mackay Strata Titling

My property journey – USA update

So we are nearer the final stages of Memphis, Tennessee.  I am in the final documentation stage having completed the building inspection, sorted out insurance, and now having a look at the legal checks to make sure there out no outstanding debts attached to the properties ( a major risk in the US).

It is all a litle daunting as in any country, so I am glad I can tap into people that have gone through the process multiple times.  It is fair to say, some of the US documentation looks a little mickey mouse, which would make me uncomfortable unless I had that reassurance!

To be honest, I don’t have people would have the time to do any of this themselves.  No chance for me.  Even with helping hands I am struggling!

Meanwhile after a month or so of searching, we have found a suitable property in Florida and it looks like a very good option; just running through all the numbers and will show you some photos.

About Mark Taylor….

My property journey – USA update

Strata Titling Project in Mackay

By Mark Taylor

We have finally progressed to the next stage after many months of frustration.  If you haven’t been following this project, I have been trying to strata titling my duplex up in Mackay; this should release $50k of equity.  Ran into a few problems as I needed to get a firewall extended in the roof and finding a building who could do it and run the project was very tricky.

Anyway, it is done now at a cost of $7,100.  Now need to finalise the documentation with the council and a few other bits and bobs and we will be done….

About Mark Taylor….

Strata Titling Project in Mackay

Property Development Melbourne Update – March 2010

We are getting closer to the build phase for the project.  Finally!!!

Below is the current strategy we are undertaking to get the best return on the development.

Property Development Melbourne

When this one finally gets off the ground it will be a great project, but there have been a few roadbumps along the way.  There are five of us backing this development.  It is in Footscray Melbourne which is regularly featured in property hotspots. 

Profit Margin on this for me should be in the 25% but there is a fair amount of risk.  The good news is that the DA approval has been achieved, so in theory, even if we bailed now the value of the project is still more than current outlay.  The builders are all lined up, so now we are waiting on, guess what, yes the banks….

Meanwhile, a short video below, that runs through some of the choices around the site choice and why Footscray is well regarded as a future hotspot.