Suburbs like Alexandra Hills – Redland Council (near Brisbane) have many properties with downstairs area legal height, and potential for dual key. With reno/value add potential as well. Property can be later on sold to owner occupier without dual key flag. Person I know recently purchased one 3 bed house with downstairs rumpus and bathroom.Added…[Read more]

Hi Futurefunds

Do you have town planner working for you, or you lodged DA yourself? First thing I would do would be looking for independent town planning advice. Experienced town planner should know how to present/defend your case, if other houses in the neighborhood already do not comply. Maybe matter is not that simple, however, professional…[Read more]

Congratulations for having a clear goal at your age! Half job done.
Start reading, whatever you can get your hands on. Even if you learn only one thing from the book, it is worth it. Do not limit your reading only to property literature. Personal development, goals setting, economic, finance, tax low….

Try to find a local mentor.
As for your…[Read more]

Hi Coogee
This info is still up to date, however, it is not set in stone. Site could be smaller and frontage narrower than that (as your town planner has stated). 3000m2 minimum is for unit development in LR (low residential) zoning, not LMR.
To help you in more detail, you have to ask more specific question.

Why would you sell your current investment property, in order to buy a new IP shortly after? That would be lots of money spent on selling/buying costs, and CG tax? You may have your reasons…. Just a thought? If you use your existing equity from current properties to acquire new IP, that part of the loan would be tax deductible. What matters is…[Read more]

I do. And, despite Carly’s horrible reputation, material is very, very good. I am experienced property developer and learnt a lot out of it. Would be willing to sell.

It is very important which council is the land in. Some things which are Ok in WA, are no no elsewhere. Certainty with any development is a must, so you know that your plan/strategy have no obstacles. Talk to your council or local town planner first. Then look for the people with the same experience.

If you are prepared to walk away from this purchase, ask for another condition: if current tenants do not move out on the settlement, seller would pay your rent till property is ready for you to move in. Agreed amount to be taken out of the settlement proceeds.

Your seller can not have all in his favor. He also has to give something back.

Thank you Wilko 1, but it will not help because extract above is from the policy. And further explanation is from director of QBCC Insurance Services. We have all lodged the claims , and some have already been rejected. Ours is waiting for assessment.

We are obtaining the quotes to complete from another builders and quotes are coming in…[Read more]

Hi SamBoy

<moderator – delete advertising>
Have you looked at modular kit granny flats?
For example: emjaro.com.au

Hi Alex

Out of personal experience: all you need is a special condition in the contract saying that vendor grants you permission to lodge DA before the settlement, and , subsequently, signed consent letter from the vendor to be lodged with council. DA is attached to the property, not the owner.
If you get the option on the property, and…[Read more]

Hi wilko1
Thank you very much for this information. I will definitely see how it can be implemented in the areas/councils we operate.
Just to clarify: if you have a party wall acting as boundary, middle line is a new boundary? Apparently Council is happy to proceed with survey plan endorsement without buildings being constructed, but are shown on…[Read more]

Wilko 1, this is great idea, if there is enough land. In most cases multiunit sites do not have enough land for subdivision and /or council will not allow subdivision to be done first for community title scheme. It is applicable for low density residential (individual housing zoning).
Shane 13, check it with your town planner and designer before…[Read more]

Bank of Queensland did one for us recently, for 5 townhouses, to be kept as rental properties. So, no presales at all. 65% LVR, including GST (usually not the case), because it is done in personal name. We are not GST registered. We do have development experience, strong equity position and serviceability without rental income. Managing the…[Read more]

We were very happy with the director of PMC Property, Brisbane based. He used to work for another agency and has started his business since.

Out of my experience, it doesn’t matter. All you have to do is notify Council in writing and present proof of new ownership. DAs are issued for the property, not the owners. Often my clients come to me for construction documentation after they have bought the property with DA in place, issued to the old owners.
Just ring Council up and confirm.

First you have to check whether existing house, when moved, would fit on the half of the block. In this case it would be approximately 10.2 m wide block and you would be creating two small lots. There has to be enough room to allow for boundary clearances. At the same time you have to check demolition/removal restrictions, if any. You can do that…[Read more]

Hi Benny,

every development site with old house which has to be kept is challenging, to put it mildly. Majority of the experienced developers (who DO make profits) would stir clear from it. Or expect a bargain. Have you got any offers on it? If you can sell it for what agents tell you that you can get, sell it. It is purchaser’s task to perform…[Read more]

Be aware that valuation is not always taken as for buy and hold purchase.

It is important to understand that most lenders would reduce valuation from MARKET VALUE to ALL IN ONE LINE VALUE, resulting in APPROXIMATELY 15% discount. It means that approved LVR of, lets say, 65%, is calculated fron the lower base. It is possible to find the lender…[Read more]