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My property journey – Mackay Strata Titling Mackay – It is celebration time

Monday Sep 5, 2011

My property journey – Mackay Strata Titling

The Returns

The valuation came in at $560,000, smack bang in the middle of the forecast.  Previous valuation was at $450,000, so I know have $135,000 of equity in the properties ( loan is currently at $425,000)

The refinance options have been looked at and we are able to secure a 90% LVR loan.  Net result is that I am able to take around $80k to make further investments.

The costs

The costs of the strata titling was in the $15k mark.  It was upped significantly by the need for a firewall which threw in an additional $10k.

Ongoing costs are:

  • additional fees for body corporate insurance – approx $1000 p.a.
  • Additional rates – approx $1000 p.a
  • Additional admin costs for body corporate – approx $500 p.a.

So, you need to make sure you invest the released equity well to leverage the funds effectively

About Mark Taylor….

Mark Taylor is the Founder and Director of Keys To Success Club.   A property investor in his own right, Mark helps other people succeed in property investment by connecting them to property experts through Keys To Success Club.

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My property journey – Mackay Strata Titling

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My Property Journey – Mackay Strata Titling – Show me the money

Wednesday Jun 15, 2011

My property journey – Mackay Strata Titling

Mackay

It is celebration time as we have received from the council the sealed approval, so we are back on track to finalising the strata titling.  One of the new rules is that we have to get valuations on the duplex, so a good opportunity to see what we have created:

Project Valuation

I believe fair market value for this property as a duplex would be between $475,000- $485,000.

If the units were strata titled the market value would be in the $$530,000   to $590,000 range.

So in the $55k to $100k range of additional capital created through this work.  Overall costs will be in the $15k to $20k range so a return of 300% to 500%.

I keep learning as I go on this journey.  There are some additional costs now that I am running a corporate body, which needs a sinking fund contribution and a separate tax return as it is run as a separate business.

Meanwhile when this is finished, in the best case scenario we have reduced the LVR to around 70%.  My understanding is that I may be able to refinance up to 80% which would allow me to extract $50k, which would be enough to go again on another US property or 2 so I will be exploring this option….

About Mark Taylor….

Mark Taylor is the Founder and Director of Keys To Success Club.   A property investor in his own right, Mark helps other people succeed in property investment by connecting them to property experts through Keys To Success Club.

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My property journey – Mackay Strata Titling

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Live property events featuring two of our expert panel members

Sunday Oct 3, 2010

Live Property Events

Two of our expert property panel, Carly Crutchfield and Cherie Barber are going to do national tour as part of a 2 day live property event, so if you wanted to see them live, now is your chance:

Tickets are free, simply click on the link below:

http://www.TGRProperty.com.au/60881

Event Information

This Live 2-day Property Conference is designed to help you start building your property portfolio with little to no money. By providing creative investment strategies, each expert will reveal how to break down the barrier of entry for the average Australian!

This event was created to teach you proven strategies, tested, supported and currently working by Australians, for Australians, in the Australian market!

If you’re interested in:

- Creating high returns from buy, renovate and sell strategies
- Learning how to put together simple and successful Joint Venture deals
- Discovering how to double your money in 2-3 years through Property
- Accessing step-by-step guides to getting started in Property

To register your free tickets to this event please visit:

http://www.TGRProperty.com.au/60881

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Live Property Events

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Diana Lvova – CEO of One World Group joins our Property Expert Panel

Tuesday Sep 14, 2010

Diana Lvova – One World Group

I am pleased to welcome on board Diana Lvova. Diana will be joining our Expert Property Panel with a focus on property development and off the plan property.

Diana Lvova is the founder and CEO of One World Group. Born in Russia, Diana has always had the strongest drive for success and perfection. Diana has extensive international experience working with major Property Developers in the USA, New Zealand, Russia, United Arab Emirates and Australia.

Prior to setting up One World Group, Diana managed the Land & Holdings portfolio for an Australian Top 100 Listed Company with a net asset value of over $2.2 billion.

One World Group is an international company with a focus on providing quality Development Management as well as Off-Plan Project Marketing & Sales services to the World’s most reputable Property Developers. One World Group is proudly supported by the Chamber of Commerce and Industry of Russian Federation and is set to take international relationships between the two countries to the next level by attracting Eastern European capital in order to assist funding Australian Property Development Projects.

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Diana Lvova – One World Group

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Property Development Melbourne Update – Mark’s Property Journey

Tuesday Mar 2, 2010

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.

Endorsement of Plans:
With regards to endorsement of plans, we need to engage further consultants so that council has all the information they have requested in order to endorse the plans.
We are planning to market the product to get finance and have already approached financiers who have advised that the marketing can potentially be done in stages.
 
Further Amendments of Plans:
Once we get endorsement of the above, we will lodge for minor amendments which will greatly enhance the amenity of the development and has been strongly advised by the architects, this should not take too long.
 
Marketing/Finance:
We have all the marketing plans and a preliminary plan of subdivision but we cant take any chances and start marketing with the prelim subndivision in the contracts in case it changes due to council’s feedback regarding the endorsement of plans, otherwise the contracts would become void. So once we have endorsed plans we will finalise the plan of subdivision and begin heavy marketing in order to obtain construction finance.
A further note is that we will be providing information over the most relevant and current digital platforms – these hubs for information will focus on sites that you already know and trust and will ensure ease of functionality. Our first step towards supporting this strategy is to establish a facebook community to provide the most up to date and real time information in an enviornment in which our members regularly interect, being Facebook. Please be one of the first to join us via the below link.

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Property Development Melbourne

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