Hello everyone, it’s Glen from 21st Century Group, constructions, investments, property management. Another question which a lot of the investors do ask me, if it’s for the first time that they’re doing an investment with me is, “Glen, what’s the construction process”? Because you know we do the build. So I go into this kind of lengthy little speech about the process. The land is with the land developer, all right so we’re not the land developers, it could be Lendlease could be Stockland,Pete, a lot of people. And normally,normally, currently it would cost about two thousand dollars to hold the block. Now, for any reason if you’re not able to proceed with the purchase, the entire holding deposit comes back to you, all right, in full. But if you do proceedwith the purchase, it comes off the price of the investment. So you would sign the land contract and at the same time with us, it is the HIA (Housing Industry Association) contract regarding the house. Now, we don’t do finance. So either your own bank or you might have a mortgage broker could help you with the finance. And we will need their details as well. And we email them everything which they need to get the finance rolling. Now I don’t go to tell your mortgage broker how to set up a loan, but I’m sure they would know how to set up a loan. Especially something which is going to happen in Queensland and also where they have to do a split contract where you purchase the land and then build. With the build there are six stages or shall we say six invoices. Right. First one is the 5% deposit, the second is, I’m sorry, let me go back. Once we get the 5% deposit then we start all the preliminary paperwork. For example, getting the prelim drawings, the full working drawings, the soil tests, council approved plans. You know, everything that goes with it. Once we’ve got that, then we notify you when we start the construction and the slab goes down. Once the slab goes down we take lots of photos, we send you the photos with the invoice. You just sign on the dotted line and you send it off to your broker or to your bank whoever the case might be. Once that’s paid, then the frames go up. Right. Once again we take lots of photos, maybe little videos. Right. Send it off to you, with the invoice, you sign it, send it off to your bank or broker. We get paid. Then it’s called the enclosed stage. Right. Once again lots of photos, send the invoice to you, sign on the dotted line, send it off to your broker. Then we have the fixing stage. Also at the once again, photos, invoice. Also at about the fixing stage, my property management company would get in touch with you. Okay. And they would talk to you about renting your property out, sending all the necessary paperwork, to get the ball rolling. A few weeks after that, it’s the practical completion stage,which means that the house is ready for someone to move in it. It might not all be done. For example, I don’t put the turf or the landscaping till I know exactly when a tenant is moving in. All right. So once we know when the tenant is going to move in,then the turf and landscaping goes down. I mean, it makes a lot of sense because someone has to water it. And if there’s no one there to water it, it’s going to die, it’s going to cost you more money. So it’s best for us to wait and everyone is extremely happy to wait till the tenant moves in. Regarding the tenants, let me tell you this. If I cannot get you a tenant within a month of handing over your investment, I will pay you the rent till I get you a tenant. Fair enough? But if I can get your tenant within a month of handing over, you can introduce all your friends to me.Fair enough? Okay. So that’s basically it. There’s no big song and dance or drama about it. I’ll only put you in into an investment, where I’m very sure, right, that there are tenants lining up. And for that to happen, the infrastructure has got to be great. And all of these investments have got great infrastructures. All right. So give me a buz.
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