SA Adelaide suburbs

Discussion in 'Where to Buy' started by Rhiannan, 19th Mar, 2017.

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  1. jim1964

    jim1964 1941

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    Why?
     
  2. jim1964

    jim1964 1941

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    ^^^ After having 4 Mother In Laws, i would definitely exclude her from any deals.
     
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  3. tvadera

    tvadera Well-Known Member

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    Reason is we do share investment opportunities with each other so gesture is returned. Its not the first nor the last, as we have done investments together

    It would be 50/50 as I said, so money would be spent equally by both and if I decline he would settle on his own.
     
  4. jim1964

    jim1964 1941

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    I would be asking the question firstly,as you are in your own words clueless about Adelaide........

    Plan is to hold, rent it out, apply for plans and permits for at least 3 townhouses and then sell in the market for a profit

    You need to CONFIRM this will be able to be done,don't take anybodies word for it,otherwise it may be just another expensive block of land.I would hope your friend checked all this out before he bought.
    From the Add...............Located in the West Torrens Council Centre Zone this home offers possible development potential (STCC).
    They probably wouldn't know.
     
  5. tvadera

    tvadera Well-Known Member

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    Thanks for your inputs. I am researching this opportunity, nothing is set in stone, as discussed, either I would jump in or let it pass. I have made money by always trusting others research and purchases and so have others from mine.

    In the end we all are group of individuals looking for opportunities to invest. Investments are made assuming you would go alone, however its always shared around if anyone is keen to diversify the risk.
     
  6. jim1964

    jim1964 1941

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    Have a quick read of this

    sa.gov.au - West Torrens Council

    Depending on what you want to do,there is provision to develop land under the DP,i notice next door some development has been done, thats a good sign.All the best,let us know how it goes.I would be interested to see how it sells with a DA in place.
     
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  7. tvadera

    tvadera Well-Known Member

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    Thanks, scanning through it.

    My first job is to locate a conveyancer so I can get an independent opinion on any restrictions on the block
     
  8. jim1964

    jim1964 1941

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    HuH ??You mean Surveyor dont you? Give Scott a call/email

    SKS Surveys - Licensed & Engineering Surveyors

    He knows his stuff, i have done quite a few sub divide jobs with him.
     
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  9. Corey Batt

    Corey Batt Well-Known Member

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    Tying up your finances with a friend is a quick way to destroy your borrowing capacity in the future if you ever want to invest on your own. Bank servicing calcs are VERY unforgiving now with people who borrow jointly with non-spousal parties. I'd be very careful with this as the last thing you want to do is find out that you've checkmated your ability to grow further without having to untangle a mess of joint ownership.
     
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