I agree that doing a reno is a great way to add value. When we purchase a property we always look at how we can unlock value whether that’s with a reno or subdividing. This strategy has seen us increase our equity rapidly, and we have chosen to sell some to realise that profit, and others we have kept for the long term.

Having said that though,…[Read more]

Hi Hailey,

Welcome to the PI forum and the world of property investing.
Its often very overwhelming when you first start out so my advice would be to follow our 7 step program:

Step 1 Set your personal & financial goals
Step 2 Prepare a budget & savings plan
Step 3 Determine your investment strategy
Step 4 Build your team
Step 5…[Read more]

Hi L.W,

Glad you liked our new website and the story section, perhaps one day we’ll all be reading about your removal house story.

Regards,

Amanda

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

Yes we’ve repainted laminate cupboards using the White Knight paint and it looked fantastic when done, particularily with some new chrome door handles.
I’d get new preformed bench tops though due to the high traffic use which I imagine would scratch in no time.

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is…[Read more]

Hi again Cruzinbud,

How long?? We’re almost finished our subdivision & the land was purchased Sept 2004 …so be patient as it can be a very complex issue. Here’s an extract of a document off our website that should get you started:

What is Subdividing?
Subdividing is when a piece of land is split into two or more pieces (ie separate lots).…[Read more]

You can complete it online, here’s the link:

http://www.ato.gov.au/corporate/content.asp?doc=/content/71506.htm

As the other posts have mentioned though, if you over estimate the expenses by, I think its 10%, then not only will you need to repay this tax but also a fine. Usually if you’ve been fined one year they won’t allow a variation the…[Read more]

As Sanjivgupta has said most Councils will allow you to lodge a Development application (DA) with the consent of the owners. Subdividing can take months and even years to complete so its certainly a good way to save interest!

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to be inconspicuously wealthy,…[Read more]

Yes we sure have, you can read our story and view pictures at:

http://www.propertydivas.com.au/6Share/ReadStory.aspx?story=552ef318-f398-49f7-ac5e-0e26648bf387

Visit your local Council
I’d suggest that you make your first step a visit to your local Council to find out about local requirements and restrictions.

Each Council around Australia has…[Read more]

Hi Tina,

I’d actually go back to the Council first and asked them to show you under what section of the zoning is a battle-axe lot not allowed. Usually all you need is room for a 4m driveway which would need to be concreted the full distance. Sometimes the counter staff at Councils don’t have the experience to answer your question so try and…[Read more]

For flat pack kitchens try Tom Armstrong

http://www.propertydivas.com.au/7ProfServ/Professionals.aspx?cmaid=1a5abfe8-7d2e-4172-affd-1247759d1b4c&cmstat=Basic

Its also worth having a look at http://www.xsstock.com.au or the auctions which advertise in Saturdays Courier Mail

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is…[Read more]

Hi Jag,

You could try PIA which is available through Somersoft or we have several spreadsheets available online free that you can download that cater for up to 5 IP’s.

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

A good place to start your research is with the Qld Population reports. Here’s a link to an earlier post that will get you started.
https://www.propertyinvesting.com/forum/topic/26777.html?SearchTerms=great,download,for,qld

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to be inconspicuously wealthy, than…[Read more]

Hi Richard,

By now you should be sampling the true delights of our Qld tucker during your birthday lunch. Maybe a platter of local prawns, golden Mango salad washed down with a Chardoney. Or maybe a thick T-bone steak topped with garlic mushrooms & a cold ale. Gee its 12:15….time for lunch I think. Sadly I’m home alone so its reheated…[Read more]

Hi Morty,

Yes CGT is payable on the net gain from the subdivided land. Not an easy calculation though as the original cost of your PPOR will need to be apportioned based on how much land is sectioned off. Best to talk with your Accountant.

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to be…[Read more]

Hi Jimmy,

Glad to hear you’re enjoying Steve’s new book, he certainly makes it easy to read and I love all the little stories along the way. I have attended one of his seminars and he comes across as very genuine & sincere. I’m sure you’ll also pick up lots of useful ideas off this forum.

AmandaBS
http://www.propertydivas.com.au
FREE online…[Read more]

There’s an old rule of thumb “if its too good to be true, then it usually is”.

I’m in Qld and I’ve been hearing the radio adverts lately saying how for “as little as $20pw you too can own an IP”
Yeah right….

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to be inconspicuously wealthy, than to be…[Read more]

I’m going to be pretty boring here and agree with the other posts, that providing you don’t hold significant personal debt, I’d keep the property & leverage and buy more.

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

Hi Sharron,

Welcome to the world of property investing.

There is no Get-Rich-Pill you can take, but you will need a strong desire to succeed. To be successful in property you really do need a good system in place, so my advice would be to follow our 7 step process.

Step 1 Set your financial goals
Step 2 Prepare a budget
Step 3 Set an investment…[Read more]

Yes each Council will have its own terms they use to describe zonings and categories so pay your Council a visit & ask for a copy of the regulations. Each zoning refers to if its residential, low/medium/high density, commercial, rural,industrial etc.

With your second question I assume you mean that the house currently sits over both lots, so yes…[Read more]

Gee I was on to my second husband by age 33, but thankfully he’s also my last!!

Best wishes from us all at the PI Forum,

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”