I'm not.

D

Ahh Ben…….Stay a home mums……..we'd let your wife in…..lol! Just kidding, you have a LOT of enthusiasm don't lose it!

I think I'd rather be the builder then I can make the money.

D

BTW –
Here is what was in the do not spruik rant

He hehe how funny I went on holidays this week and just happened to pick up a Star Trek book from 1977 in a second hand shop! Nerd Alert! My parents firmly believed in the good guidance from the Trek world Original series only for me though!

BC – Those red Shirts are a dime a dozen! Also you will soon stop smiling when your wife starts dropping her breakfast lunch and dinner – everywhere! Cross your fingers for no morning sickness!

V8ghia those young hoons are everywhere (hsv r8 right here)!

All you mums at home you rock! I've got a 3 yr old and a 10mth old and have still managed to stay home and do the townhouse development on the side. (Yes I have a husband, yes he helps out….yes he works 6 days a week, yes property will be our retirement plan!) My 3 yr old now understands when we are going to "the building site" as he wasn't even walking when we started.

I'd recommend "Yummy Mummys Survival guide" which I bought because it made reference to Sarah Beeny (Property Ladder on pay tv)

Enjoy! 

D

Hi Peterpith,

If you type sub division in at the top in the search area then HEAPS of previous threads will come up. There are plenty of people who you can private message as well who will give u approximates. It is worth doing if you have the cash to pay for the associated costs.

D

I still don't like it ! The problem is that friends of ours built up along the coast in WA thinking they could rent out for 950 a week spend a mill and a bit building. Yes new estate etc harder to rent etc (had to because they moved interstate, house was primarily built a PPOR). Now still on at $650ish a week. I rent in a million plus neighborhood for just under $700 a week in Vic.

Please do not put all your eggs in one basket. Consider other options before committing to a negative cash flow situation. Ignore all chatter from anyone else who does not own a couple million dollars worth of property. What are their millions in? Oh wait no millions?

Are you in the mines? Or something else? Will you move interstate anytime soon and have to leave you investment in a PM's capable hands? When do you want to quit your 9-5 or in you case might be 8am till whenever?

Have a small strategy. Start small. By the end of this FY I will have…1 IP etc. Yes it is very hard to say this because on 250k you can own the world and buy the biggest and the best. But wait…..slow down and work out what is important to you in investing.

In business you would never run with your heart you would always back every decision with cold hard figures and facts.

D

You soooo better not be paying….the advertising, the letting fee, really anything to these agents. Get rid of them. Get the details call the ladies tell them that the agent has fallen through, call the agent get rid of them not necessarily in that order and call a couple agents tell them you have the tenant reday to sign on an what will they offer you.

That agent is obviously crap. One of ours was out doing a viewing on one of mine on Sat in the blazing heat even though she didn't think anyone would come.

Move on to someone you can have some semblance of faith and trust in to do the job properly!

D

Victoria? I think you will find that you might really have an uphill slog with this one. How many different owners are there? Is there a Body Corp? You might find that you have 5 very large objectors to you plans. Have you talked to some of your neighbors to ask them what they think? I think this may have been done once or twice but unless you are very, very sure that you are able to go ahead with this I would not buy this property based on redevelopment.

Call your council and call a town planner first before you even go start going down this path.

D

Whoops Brokering!

D

Thanks everyone for this post and especially Steve for replying.

Can I just clarify the way that trusts are being used in this scenario (humor me ok) Trust A has 1 Mil of properties with say 300k equity. Trust A then loans this equity 'money' to Trust B which then uses this 300k of un-geared 'cash' to secure more loans to buy more property. You as guarantor get a phone call from a nice bank person asking if you understand all your obligations etc, you sign a form and the loan is a go.

You cannot use all of the property in Trust A to secure say 1 mil in fresh loans for Trust B.

Like I said humor me.

Thanks guys for the free education

D