Beedie, where is your 6 pack? Just out of curiosity..

D

Hi everyone,

I have to say now will probably be the best opportunity to get in and develop. Interest rates are reasonably low, prices are flat-ish and doing small developments that don't require pre-sales will be a great way to manufacture profit. In a couple of years these dwellings will command a premium because they are new and because the demand will keep increasing. Just my opinion.

Thanks to Steve and the team for putting together these updates!

D

Thanks everyone!
True on the bank thing, they don't love single title.

Yeah, the other good thing is a quick exit. You can always sell one quicker than you can sell a block.

Considering it may take a council several months to rubber stamp the paper work, better to have it done sooner than later.

D

Hi Vonny,

Depending on what you are planning on selling etc. I can only speak for what we had to do and for Victoria

We needed to complete the subdivision part of our development first, who ever has done your working drawings or is helping you complete this project can help you with this. An architect or town planner can as well. Essentially after you have complied with councils wish list, you solicitor then takes all the relevant documentation to the titles (or whoever in your state) office and lodges it. The property is then titled as to the plan. So in you case where you may have common property this will then be shown on each properties title. Any properties freestanding are given their own title etc. Your bank will also have to tick this off so allow some time for this to happen.

Then you may need to look at the owners corp part which was the bit I couldn't find on the net, this may save you some time as well

I'll copy this in from one of our sources please do your won homework on this

1. The Owners Corporation (formally called a Body Corporate) automatically comes into existence on the registration of the Plan of Subdivision.  It has the same legal recognition as a company.
2. The members of the Owners Corporation are the owners of the Units.  Their liability and entitlement is set out in the Plan of Subdivision.
3. The Owners Corporation can either be self managed by the Unit Owners or they can appoint a Company that is licensed to operation Owners Corporations by the Business Licensing authority (BLA).

It is not uncommon where there or 2 or 3 units that the owners decide to be self managed.  This usually involves taking out public liability insurance and building insurance and collecting each owner’s contribution once a year when the premium is due.  There may be small maintenance items relating to the common property

Our architect sort of mucked us around as I had my terminology incorrect the first time round, subdivision relates to the land being split up, strata titling relates to the title being split up.

If you are selling your solicitor can write an extra clause into the contract which covers any time that it takes to lodge this plan and means that settlement can be delayed if you get delayed. Once again please see your own advisers on this

Hope this helps in some way, good luck with your project!

D

Wow, guess I took acting and promotional the wrong way!

Gee sorry about that.

D

Hi Jack620,

I would try to have as much usable, flat yard as possible when appealing to families. I have an 18 mth old and a 3 1/2 year old and would not go near anything that had lots of stairs, or an unusable outside space.

It the deck relatively level with the turfed area? If so the space will be usable, if there are huge steps going down you may have an issue. There may also be a market for single parents with older kids if you have no back yard. They may have one or two teenage kids who don't use the yard anyway so like low maintenance.

The other thing with the fake turf is that it gets very hot in summer so little kids cannot go on it during those months you most want to go outside. A friend bought as house with it and has spent some time ripping it all up. Think about just using really hardy ordinary turf.

Just some opinions to help you out

Good luck

D

Well TAC don't.

My dad had a pretty bad crash in Feb. He was run into by some bimbo using a mobile phone in an 80 km zone on windy roads. His hand punched through the windscreen. He severed tendons and had his hand repaired, physio etc. There is no 800k for him.

D

The solar heater one was bad.

Pretty crap that hand guy got the same money as the widow.

Good points to think about.

D

Hi Scott,

Have a crack at this one and see how you go.

http://www.activepropertynetwork.com.au/melbourne.html

I've only managed to go once but it was pretty good.

D

How do you keep this one and get more properties? the simple answer is you don't. How many of these can you pay for?

I am not being rude, I just don't think it is a sustainable way to go. That is a huge gap. This essentially means you are losing 18-20 odd k every year.

Seriously think about selling. Adjust your strategy to make money, either buy buying well or adding value, developing.

Just sayin..

D