I didn't purchase anything just got it from the apps store free…. Got the range off a couple houses in my street. I'll take it out soon and try it while I'm hunting houses

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Banker,

That is really awesome. One neighbors house sold for 1.1-1.2 mil last year. The other sold for 75-80k in 1986! This is great for property hunting, thanks for letting us know

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Hehe.I would not class myself in any camp other than the "Can I make money from this?" camp. It's a good camp to be in

I actually have had one of my properties double in 4 years, And at this stage am selling a property I have held for only a year which still looks as if I'll at least see my money back after all buy in and sell out costs.The opportunity cost of that property was too high. We would be held back from making more money elsewhere. So I have a hard time arguing against these two points.

Tell me hschmid, just for curiosity why are you on a PI site and a broker if you think values will drop that dramatically? Won't that wipe out most of your business?

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Well I'll weigh back in then.

WJ, I NEVER said "Don't sell"! I said the only reason to sell is when you can do something better with the money! So if you can do better, whether it is in shares or in managed funds or silver or developing or whatever then you should always be looking to do better!

I have 2 properties on the market. I am freeing up cash for the next development. In property! I can do something better with the money! I wouldn't sell just because some one got on a forum and started saying that property was a bad investment or that they had a bearish out look for the property market in the future. That is one persons opinion just as my own comments are my opinion.

By all means have a bearish outlook on your portfolio. My portfolio is looking pretty fine. I think as long as an investor has mitigated as much risk as they can, then if they are happy with the risk and return of whatever asset class then let them be.

Opinions and talk are free.

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So if on market value of the property you make less than 15 % (after building and selling finished product) then no dice. Most developers aim at 25% or over. 20% is marginal. If you are talking about just flogging it of with plans and permits and making a good profit then that is a different story. Having said that is 25% = diddly, squat then no dice! Sorry don't wanna spill my beans

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Hi marcG,

If you do a search on this forum you will find stacks of useful information for subdividing and developing land.

My advice would be to have a chat to your neighbor first. Don't come right out, but just suss them a little. They may be more open to it than you think. Generally when people start developing the other houses in the area get a boost just through the neighborhood being nicer. The less objections the better and sometimes if you can make it positive at the start it may help at the end.

So things to watch out for are if the neighbors house has a heritage overlay check to make sure yours doesn't as well. You can do this online and generally view your block at http://www.land.vic.gov.au.

If you look through the planning maps there is a search function and you can check overlays, zoning and see aerial maps as well.

You can ring your local council and have a quick word about building townhouses on your block and any restrictions that might apply. Some councils have restrictions as to height of buildings or native trees and the like. They may also have restrictions on the sizes of block in your area, you may have 400 or 600 sqm blocks as the smallest and may only fit 2 or 3 townhouses. You can call a town planner/ architect and check out what options you have.

Above all else, please make sure you are going to make a profit!!!!! This will take 18-24 mths and amounts of cash so if there is no profit, don't do it

Good luck keep us posted.

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Hehehe, Get into him Devo.

Have to say, the only reason to sell is if you can make more money somewhere else. So at this point in time do you think there is more money to be made in the stock market? Analysts are talking about a bear market for a long term trend. There are these delightful adds on tv tracking both property and shares through lit up blocks. The property market shows a steady long term growth and the share market shows a highly volatile trend upwards. The add also omits the last year (funny that) in which many many people lost alotta moola. Funny how most houses don't collapse the way some business' do.

Personally I think property is great. I have gone away from buy and hold as a personal strategy but that is only because now I can manufacture profits through development. Not every property investor is sitting on dud property that will not see growth long term. Most of those people are not even called investors.  

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We had this problem too.

Couple things that are already said. Fence the yard. Fix the bog. If people drive past and check the house outside of hours then it needs to be clean from the outside. The add is pretty basic, maybe write some more blurb for them and jazz it up a bit, fix the car space thing people will assume it has no parking because there is no car with number in the top corner the will not even read the blurb. Write pets considered in the add. The other thing is the wording about the yard. If you are appealing to a family market then using the words low maintenance block will put them off as they will think there is no yard space. Change the wording to say family friendly yard and put a picture of it on too.

 A free weeks rent is good, we resorted to this on ours. Dropping the rent is good, better to get some money rather than none. Do some mystery shopping on the agent. Get someone to go to the open, get someone to call in about the property. I turned up to one of our opens to find my lovely agent there all alone. But she was there.

 I am actually hunting for a new rental property to live in right now (sorry not in DNG NTH) but the difference in agents is amazing, a couple have not bothered to call back, some of the reception chicks don't care, one or two have been ok. One or two out of 10 or so. Do not hesitate to change agents after all else has failed. Maybe they are off putting?!

Good luck with this, it is a pain but you can get through it.

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Hi Sasha, good to see you are plugging away at it. When I saw you at the PI.com conference you were really enthusiastic. I would say yes it will be harder and yes You'll have to work at it but I really hope it works for you. I think if you know what you are talking about and have the drive to keep knocking when people keep saying no then you will do alright.

 I'll be interested to see how you go in the future. Personally I would think there would be some good opportunities in getting approvals for small apartment blocks. May be a bit more work though?!

Good luck

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Brutal!

No I don’t think the property market will be affected by this tax. The UNCERTAINTY has affected the country. The fact that anyone in charge does not seem to know what is going on on how much of it is going on is tiresome. The problem I have is that the same govt is in charge and every one loves it. Everyone seemed to hate Kevin Rudd soooo much and now that Julia Gillard (happy?) is in charge everything has changed. Nothing has changed, it is the same people!

I am happy she is a female. I am not happy with the fact that no one in govt seems to be able to run a bath! The parties change and everything is still crap. John Howard was crap too! He wanted to bring in nuclear power (again) talk about living in the 50’s. Kevin Rudd was the saviour of the country until everyone got sick of him. Will the same happen to Julia Gillard?

And since when does a persons religion or lack of mean anything? Yes she is a red head….and? Let’s just trot out every stereotype while we are here. All I want in a political leader is someone who actually knows what’s going on, doesn’t make excuses, and does not lie through their teeth.

Thank Goodness we live in a free country or right now I would be in a small dark cell for speaking my mind, which is my right as well as yours.

Just for you Lalibella I will make sure I stick to helping people with property and wont make any more political comment.

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