Hi Andrew,

Have to say they sure do suck! I could tell you stories about the NAB that would make your hair curl but yet again I will go cap in hand to them or anyone else who will lend me money. By the way you cannot actually transfer (via direct debit) to the NAB from any other bank (no you cant I really have tried and wasted part of my life trying). I want (read need) more properties and need someone else to pay for them who I will then pay back (I promise!) I hear your pain but unfortunately they really are all the same……..crap!      

Hi,

Ron Forlee has two books about property development. There are some others on businessmall.com.au. API small development guide is ok too. It is worth googling architects and development companies to get more information. You can always call them and start getting estimates for drawings etc. Hope this helps.

D

Hi,

Have you checked with the local council as to if this is something that they allow/are happy with? I thought local council generally frowned on people living in a caravans etc behind houses. But if they don't care and the tenants are fully aware that you (the landlord) lives within sight over the back fence then hey if it works for you go with it. I would just make sure that each tenant is fully aware of it. Not being told your landlord lives within shouting distance does not make for a comfortable situation for tenants (been there )

Good luck sounds ok otherwise

D

Yeah I think the problem is there is no problem. The economy really is fine so there is no reason to keep rates low. This was the economic slowdown that only happened because the government wanted it to, and the banks caused it. So thanks banks and thanks K-RUDD for fixing something that wasn't really broken. (just my 2 cents oh wait 1.55 cents)

D

Oh MY GOD! So do I and aren't they totally a piece of B*&^%H&T! Used to have a mortgage with them, almost partied when we went through ST George then they bought ST George ARRGGHH! Ahh banks they just do suck!

D

Yeah tell me about it! The good part about the broker is they do pretty much everything but sign for you once it is all set up.

D

Well how inconsiderate of you TheBish! How are THE BANKS supposed to get filthy rich? Have you considered their needs at all? They had some sort of financial crisis y'know (of their own causing)! How are they supposed to post billions of dollars in profit if we don't support them? Well I plan to do my part and fork over as much as I can in hidden fees, interest and one off account fees. That yearly fee I'll gladly pay because it keeps those Aussie battlers going!

Gee it is such a shame I cant add sarcasm into this! Hopefully you get the drift! The banks could get blood out of a stone and that is exactly what they are doing money out of mortgage interest. But I know I haven't got a spare billion laying to use to buy houses so I need to borrow some cash from them. Good thing interest is tax deductible (hey just silver lining ok).

D

I think this is the problem with my micro research into one area. In the area I'm looking the population is aging quite rapidly causing an increase in single and 2 person households. The council are desperately trying to accommodate these smaller households and introduce more TH's and apartments. They want older and single persons to vacate the 3 bed houses so they are then available. I guess they are trying to stop a general shortage in the area. One of the other areas I've been looking is all students who share and young professionals so I guess my viewpoint is a little skewed rather than what is happening over the whole country.

D

I think also size is somewhat driven by if you have children. You don't need a yard, 2 car garage, 2 living areas and a huge kitchen unless you have kids, dog, cat, 2 cars, inlaws who come to stay so you need a fourth bedroom……..Uhhh yeah….

No kids means nice small townhouses! Household size is decreasing so so will house size.

D

I thought most of them were around 7.7. Is there much competition in the area or are the inspection fees, letting fees heaps cheaper than other PMs? If you really like them get some comparison rates and try and get them to match them. I wouldn't go too crazy trying to negotiate on price because you want to have a reasonably good relationship with them so they look after you and your property.

D