Hi John,

If I were in your situation (similar, although I’m situated in country Vic) I would demolish the fibro for (what I’ve been told, estimated) $8K and build a small apartment block of public housing. [council approved]

If the property is located in a ‘rough’ area of Cairns, I’d say that’s perfect for an apartment block.
Cheap housing is…[Read more]

Hi Chris,

I am only new to this site and have read through your entry.. It’s December now and I guess you will have graduated.. Congratulations!
I should have graduated this year also, although due to some mistakes and reasonable planning I have a couple of qualifications under my belt and have owned my first IP for 7 months.

Good Luck with your…[Read more]

Actually, one more question to add…

In ‘Retire Young, Retire Rich’ by Kiyosaki, he says that in the U.S investors are able to borrow their CG Taxes and use them as a deposit – therefore they can pay these when they feel they want to… Does this apply in Australia?

Also, that the Government in the U.S lends investors money to develop public…[Read more]

Hi Until_we_rich,

I’m also quite young starting out in the property market (although, no one is ever too young!)
I bought my first home with my partner 7 months ago and will be 18 next month.

Although I haven’t really thought about your idea before, I agree with the other guys about, a) the type of people you will attract in a shared accomm…[Read more]

Thanks John,

Roughly, how much did you pay for demolition?
I’m guessing costs are variable between WB & BV homes and sizes?

Regards,
Beth MacLeod
[email protected]

Hi Waynel2,

My partner & I are also looking at building to live for 12months & sell for a profit.

Perhaps, instead of buying a block of land in a new Estate, you should look at blocks next to the estate area. This way, you may be able to negotiate a better price on your land.

In country ViC, new houses are going up all over the place, although…[Read more]

Thanks, guys for your responses.
I will look into a few different mortgage calculators.
-Beth
[email protected][biggrin]