Yeah I get the trying to get more money out thing. I would call the council first and tell them the address etc and what you are planning to do. They may have regulations that need to be followed or suggestions for the usage of the property. Then I would call 3 real estate agents and ask them about the market for this sort of property, what they think people would pay, if they get people looking of this sort of property, if they manage or would manage anything similar.

Are you near something like a plant, airport, mines or something that would make this area attractive to fly in/out workers? If not it may not work for that property.

Lastly you may just want to think about cashing out. If the area isn't going to go anywhere for the next couple of years or you have made a good gain maybe you want to think about getting your money out and putting it into a cf+ property depending on your strategy and goals for the next couple years

Hope it goes ok for you keep us posted.

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What are the laws up there on rooming houses and the like? It all sounds a bit iffy, sometimes there will be extra regulations like fire, etc that you will have to comply with so I would follow Scotts advice. What about the reno idea or was that for another ip?

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I wouldn't have thought so. I would have thought that in the plans that this would need to be included. Generally crossovers etc are last. When the builder pours for driveways to the back then the extra spaces can be done then. Were the council saying that you need 2 spaces for the front house or the back? Either way it wont be much of a problem unless the block is really tight but an architect/dm can advise you of this. You can still rent out the front house but make sure the tenant knows exactly what is happening and that this is factored into the rent for the period u will be building.

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Grays is better than ebay it is all legit! Search for tap ware or if you go to sales they will have bathroom or renovator sales. I was looking the other day and there were really nice tap sets for starting 39 bucks. It is bidding but the goods come from the manufacturer or distributor. The have warranties and are either pick in a particular state or delivery. I just did a search then and it came up with 132 taps. Have a squiz. You sign up like ebay and give them ccard numb etc. Good luck. Have fun reno-ing.

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This is good advice. I called the council and asked about what we could put there. Our architect spoke to council etc before doing up any plans so it is wise to check first. Less money spent the better!

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Hi all,

Eddiem are u able to give a bit more detail such as a rough area where you are doing this and what sort of block size and success you are having doing this. I would love to do this and as yet haven't found anyone who has done it. Feel free to PM me. Thanks for any info!

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Not neccessarily. Is this place identical in every way? Probably not. You may be willing to pay more/less for this property because it has xyz features/benifits that the previous property didn't have. Make a joke out of it, try to build raport with the REA. "I always love a bargain" or "I'm a bargain hunter from way back", "I never pay retail". They will understand that u will be always after a good deal. (And will always want best price)

Also the REA will take most things buyers say with a grain of salt. You may have more money from friends relatives etc. I wouldn't worry, just have at it   He/she would have heard it all before , "I wont pay more than $$, oh but actually…."

Good luck and remember to breathe and relax

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