Hi All,
I’m also about to begin putting my spare time into renos in Eastern Geelong (couple of blocks back from Eastern Beach)
I’m going to be contacting Council for permits and when applying for loan, am also going to have plans drawn up during settlement period to apply for an additional construction loan.
Going to organise builders to get in there over a few months and relist on the market – hope to make some serious money but also create an amazing construction!
This is all going through my ABN so that I can get some $$$ to register a Business Name
I’m going to continue full time work (in Real Estate) for at least the next 18 months, but weekend and leisure time is going to be spent developing property – it’s obviously my passion!
Dom, is this similar as to what you are considering achieving?

Cheers,
BM

Hey Exodus,

Good to see you’ve been reading up before buying up!

Generally the property scene is different in each state as buyers are looking for different qualities.
I’m located in Williamstown VIC and buyers down this way tend to purchase old victorian terraces to renovate, etc.

If I were located in N. Queensland I’d be purchasing an old QLD-er on a decent block (to renovate/future development site) would use bright colours on feature walls and white floorboards / french doors & salt water pool, etc. Those homes up there are gorgeous!
Also, new development in P. Douglas is exploding! If you can get in on a decent size block of land / old cane field to develope you’ll be sitting on a landmine in the next few months!
Now would definately be the time to get in on the “untouched” areas of N. Qld (like Mossman, Atherton, etc.)

As for rentals, I would suggest you do some research.
While in the process of purchasing a property, ask the listing agent what the property is valued @ for rental (returns)
That way you can use different techniques to work out whether this is a wise investment…

Always get a second quote on renting out a property as commissions / rates differ with agencies / PM letting fees.

If you have any further questions I’d contact Ray White in your local area.

Hope this all helps and good luck!

Regards,

Beth MacLeod

Hi Tony,

In regard to your question about low deposit….
It depends on what you’re trying to sell and the way you want it advertised.
Of course a lower deposit is going to be more appealing, especially to young couples purchasing their first home.. but at some point they are going to have to finance the total amount of the purchase costs.

I don’t know where you are located but I work @ Compton & Green Real Estate Solutions in Williamstown, VIC and we market each property specifically to the vendors request – we try to personalise each listing… If you ever wanted to have a chat regarding the marketing don’t hesitate to contact me Mon-Sat on 0393971600

Otherwise I would suggest you speak to some of the local realty groups in your area and see what marketing would be appropriate for your developments.

Hope this helps

Regards,

Beth MacLeod