Forum Replies Created
There is no community scheme as the each of the three blocks are torrens title and all face the existing street
not sure what you mean by resort style facilities? Im assuming you mean a pool or gym which they dont have. they are 3 blocks next to each other with party wall rights. nothing at all is common with the houses, just a party wall between them.
Im not the one building them. they are being built by fairmont homes which is a large spec home builder in SA. the contract for the land does not mention that Fairmont has to be the builder.
I can send you a site plan if that would assist your assessment
Anthony
yes joined by garage and they are torrens title
thanks richard,
lvr would ideally need to be 80% abn one year, no to limited financials
regards
anthony
g'day linar,
what was your purchase price for your property that will give 117k profit? are you needing to do a reno as well on the existing house?
a break down of your costs would be great
Kind Regards
Anthony
g'day Linar,
Thanks for your feedback…it is great to hear from people that are doing similar things. I dont buy anything unless it is going to make atleast 45k anymore, thanks to your feedback and feedback from KY it seems I need to increase my minimum profit margin even further. Even at my modest profit rate I still lose out on properties to other investors, I hate to think what minimal profit they are getting.
That will be great to see the figures of your next deal…my email is [email protected]
Anthony
linar,
where abouts in adelaide did you buy the deal in your example?, I bought mine in parafield gardens.
anthony
gday KY,
The subdivision plus reno that you did made 90k. You mention that some was capital gain, did you do your sums when you bought the property of what the improved values would be if you were able to sell when you bought. eg: what the profit would be without any capital gain?
i am from adelaide also, I would like to further compare notes/deals etc if you are interested.
Anthony
gday linar,
what state was your sub-division?
anthony
gday kum yin lau,
thats a great profit, why did it take 2 years instead of 1? how come you did not build if you could have made another 100k?
How come your 4 house project took 3 years? how long did council approval take? did your buildr hold you up?
what state are you developing in?
anthony
gday linar,
have you done any deals around the price bracket i speak of that gave 25%-30% return? Or does that relate to higher priced deals you have done. Whats your normal time frame for that type of return?
anthony
gday propertunity,
do you mean 25%-30% profit on the deal including purchase price or just on personal money put in to the deal?
anthony
gday crj,
money is tied up for 8 months
anthony
Celeste,
I was in the same boat a year ago. I needed another 1.5m for the length of the boundary so that i could fit a driveway down the side of the house to give access to a hammer head style sub division.
I just approached the neighbor and told him what i wanted to do. You must be tactful about it though because most people will know there will be quite a bit of profit in it for you.
As the boundary fence was in a pretty bad state of repair I offered to pay the total cost for putting a new one in. He seemed pretty happy with that and signed an agreement letter I wrote up clearly stateing all the facts.
I also offered to pay him market value for the percentage of land i wanted from his block. ie: appraisal 150k for house on land of 500m2, 50m2 wanted, 15k offered.
After explaining what i wanted to do and the offer i was prepared to give, I let him sit on it and said i would return in two weeks to hear his thoughts. I left it three weeks and he actually came knocking on my door.
You need to make sure they know it is going to benefit them and hey you dont know until you ask! You might even have two chances if it doesnt matter which side you take it from.
I was in a good position because mine was in a low socio-economic area so I knew the money would be much needed. It was a win-win situation really.
Although my neighbor signed the agreement once i took it a bit further through council i found out they dont allow hammer-head style sub-divisions where my house was, after all that hard work too…bugger. Nevertheless the neighbor was keen as many will be as long as they can see the benefit to them.
I would suggest getting some form of solicitor written agreement though if they are keen. That way they can not back out after you have spent hard earned money to start the sub-division process.
Good luck, hope it goes well for you
Anthony Clarke
Anthony Hansen
http://www.f1property.com.auHey Wake,
I believe im at an intermediate level of property investing knowledge and would get no benefit from a broad overview of the basics.
I am currently have underway a combined reno and sub-division of a corner block. existing renovated house is now on the market and new house on created block was started last week.
Thanks for the heads up and saving me a potential 2k after air fares etc as im from Adelaide.
What was the seminar called that you went to because the one im looking at is called: Just Renos ‘secrets of cosmetic makeovers’
Regards
Anthony Clarke
Anthony Hansen
http://www.f1property.com.auHey Art,
I totally agree with what you said, thanks for the reply. alberts quote is pretty cool too
regards
Anthony Clarke
Anthony Hansen
http://www.f1property.com.auDear Dianne,
Thanks for the reply, I am just thinking about the Seminar but will let you know how i go if i end up going.
regards
Anthony Clarke
Anthony Hansen
http://www.f1property.com.au
