Mate you are done for!

Next it will be…..but I need to buy a $1000 pram for the baby, the baby NEEDS new clothes. Etc.

Yes delay on some things but still remember to have a GOOD time. I am not saying Leer Jet good or The Wolf of Wall Street good, just remember there is still something beside money. You will quickly become the scrooge of the house and be resented by all and sundry as being Captain Bringdown (aka KRudd)

Don't blow your budget on crap but find something to reward your missues with (no a house is not reward enough) for scrimping and saving alongside you and listening to budget lectures and buying property in super lectures LOL!

 I try to reward my hard working hubby with small things like remembering his name, putting food on a plate for him and opening his mail for him.

You can buy a second hand projector from me which I won many years ago through work and has been used once and sat in a cupboard ever since! Heheh.

Heheh you can fix the dog but people will always question you!

Very funny keep it up gotta love a sense of humor in this!

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Wow! Thanks Kevin for that site I'll check there first from now on!

Duckster you have missed your calling as researcher!!!!! You always have something great to add after like a minute of looking!

None of this is Vic the land of the expensive! Had a quick go through the Millarslist and it is really good for NSW sites! I'll keep looking for good paddocks to put 2-3 cash cows in!

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Oh man I just had my rant in the other thread (09 crash) They are auctioning off anything worth subdividing in Victoria. The prices are through the roof and there is stacks of people all fighting it out even in suburbs that are 40-1hr away from the city. Stupid!

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Why did it crush your idea of having 5 IP's in 5 years? You don't have to run out and buy them all today! You could buy a couple now wait a year or 2 then revalue. Then use the equity and go again. Yeah, I said 5 in 5 years and it ended up being 5 in 6 ish years. Now I can really get started and this time it will be dollar amounts rather than houses temporarily as the ultimate aim is for neither of us to have to work after 5 years from now.

As far as structure goes what has your accountant advised you of? Do you have a good accountant? They are worth their weight in gold for second opinions, issues like this and for later when you need to work out some tax minimization. You could probably do one in your own name but I wouldn't do any more than that. The accountant (specifically a good one) can advise you what do do every step of the way and what structure to use for each property.

 When you get more and more properties and it comes to buying and selling or subdividing and selling you may need to buy in a different structure to just straight buy and hold. An yes we are talking later on down the track but it is better to get your education happening now rather than when you realize years later that you have made a very costly mistake. It is very expensive to try and fix things later. 

(Had a very good phone call with my accountant and now understand my structure – mostly!)

Good luck 

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That is a shame for all the people not making money out of property. If you have bought well then you should start to see something good happening soon. Or you should already have something good happening in the form of a good yield.

Yeah I am with you on Perth, still a lot of it is undervalued. It is like the secret retirement spot for Melbournites who need some sun and love cafe's! You can actually sit outside at a restaurant in winter and not freeze to death lol!

I'm looking forward to the QLD boom also even though I don't have any IP's there (that could change). I'm voting Melbourne as the developers hot spot for the next 2 years until every block has been built out by Tom, Dick and Harry their dog! Geelong will then become the next big thing. (Getting there already)

Sydney will fight it out with Darwin as the most expensive city in Australia. The new first home buyers price bracket will be mid $600's and no one will really care, except the newspapers and ACA. All investors who have bought property either before today or in the next couple of months will be sitting very pretty by mid next year as everything goes right on up.

That's my crystal ball (or dart board ) prediction.

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Yep! Same here! Is anyone NOT making money from property? If you are not in it you can't win it.

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Oh lovely it has vanished! Don't let the door hit you in the post on the way out.

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Good on you time to prosper and have a lot less stress!

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Have you called the council to ask how long the approvals are taking in the area? Tack on about 3 mths and you may have a clear picture of a time frame. I heard of approvals going through in under 3mths but depends how motivated the council is.

I would think that if it is just a straight split no buildings to approved it would get though relatively quick. If you are VERY confident in the profit you could make you could ask for a long settlement say 120-150 days to try and get this through. But as previous posts have discussed if the sale falls through the vendor not you will own those plans.

Think it over, compare it with doing some backyard splits and see how the figures come up. Also you need to start somewhere. It is amazing how much you can learn through doing. But only if the figures and risk stack up.

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I'd probably try and find out if you can get any sort of public liability insurance on it. Just in case any one walks on the site trips over and tries to sue or something stupid. The builder will take out insurances if you do go that extra bit. I've done a block with existing house not vacant block. Let me know how you go with this I'm sure I'll need to know soon

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