sorry,but if u think the real property millionaires and doing it via positive property your dreaming,they may start there to build cashflow in one or two or 5 or so,but then only use its equity and cashflow to develop/strata/sub divide/reno etc etc.

u make 100 bucks a week positive geared,times that by 40 to get a decent hi life income and ur getting somewhere,there is next to stuff all people with 40 homes or more.

look at john fitzgerald,he sells neg gearing like crazy,but what is he really doing? he is developing properties to sell to investors cos thats where the cash money is.and i learnt something from that,he and others sell u a product that takes 10 year to work,hence he is creating his own long term market for his developments to sell to.smart man,like others,so why be the customer makign 100 buvks per house when u can be the developer making 50k or a 100k per house???

or go to seminars and talk to people,u find people with 15 properties and they are now redoing the whole portfolio because its got them nowhere really,so where do they end up? they end up at development /strata/sub div/reno seminars to make actual cash.

i think if ur looking for pos geared then u need to be very lowly geared on them in current market or in a very volotile market like mining etc.

note- unfinanced outright property is a different story,if u can do that then go for it.

hope it all works our for ya.

yes,our broker actually said he can get a hold of private money should our projects be a bit "out of the ordinary",for eg buying units on one title,strata them and resell.which is very difficult to finance over a very short period.

but yeah,try craig mills at approvedfinance or ur local broker,just get urself into a mentoring program etc and then use that to network from person to person to find people.

1400-2000p/m is failry high,they must be pretty hi end duplexes for that money and would need very hi end sales values to make it viable.i assume thats turn key and landscaped etc and just add headworks and land costs etc on top.

even so if that was in qld thats
say 150sqm 3 br dwelling x 2 = 300sqm
300sqm x $1400 = 420k / or 300 x $2000 = 600k
land usually 200k
d/a = 10-20k
headworks = 30k

so end sales per dwelling need to be nearly 400k to 500k+ each to be profitable vs costs.thats a bloody expensive duplex imo. thats great if they are selling for that much down there,would never ever get that here even for a ritzy one.

commercial builders here are 1100-1200p/sqm for mid level duplex builds.

we are looking at renting out our ppor so we can move to brisbane and expand our job opportunities,even though it will be neg geared upto 150pw+,the costs outweight the benifits.(i should say i HATE HATE HATE NEGATIVE GEARING HERE!!!) so its a big descision for us.

for us it gives us the opportunity to surround ourselves with mroe property minded people,increase borrowing power with better jobs,more potential partners in the larger area etc etc.

it really depends on where your at in life,for us renting while investing will be a good thing for a while.

so it has no d/a now?

also,yeah,if u dont need the money now,then take the option.

as a developer he is trying to reduce holding costs during planning period and d/a period.then build once thats all done.its ideal for him.

and as someone said,he is trying to produce atleast 20% gp in the deal,preferably heaps more,so as long as u keep ur pricing theoretically inside that margin for him then its doable,however he may look for deals with 30% + for eg.

if ur paid up with pricefinder or rpdata u can ask him for a previous development address he has done as proof of who he is,then search that address,click on his name as search his previous deals.try and use that to get a feel for the strategy he goes for,whether he pays good money for his blocks(in your opinion,or search similar sites) or if he seems to try and buy properties and very low prices at the right times.(all this only takes a few minutes if he has been building in area u know)

do u know if cmoney will actually lend to past students.

i want to do the course but its pointless in the current market if u cant lend to do the projects,and the first choice would then be to use her cmoney finance,but will they finance first time developers etc,or is it no better than any other broker out there.

qld can be upto 50k per block.but it depends on heaps of things.

town planner is your person to see here,they can take your lot number and then prepare a complete costing of the whole project and tell you if its feasable at the same time.

see your town planner.

buy and hold is one thing

sell for profit is another,if u can sell for profit and want to then go for it.

before you do anything like this,first see your town planner,he is gold for developments.

tell him the lot number,he will do the rest,u just say u want to duplex it,he will then tell u the sewerage issues if any,the land slope and so on and so on,and any issues your current council may have with multiple dwellings in your area for eg.

best thing to do is,see the town planner,then work out how u can build the project inside budget to meet his requirements.once u have done a very very basic mud map at home of how u want to make it work,then talk it over with him again and then he can submit a pre-approval,in which he will draw a basic layout design of the planned development,which they will take to council for a meeting,council wil review it and give
-a very basic yes or no
-impact or code assessable situation
-and ammendments required
etc etc.

if they have said yes,then u can go forward with a full d/a application and wait the 3/5/7/9 months till thats gone through.then u must submit a building approval with full plans etc and then move to construction.

hope it all works for you.

i am in se qld,and am trying my first investment soon hopefully also,i want to build duplxes like yourself.but i suggest u contact your town planner and online planning scheme.to give you some ideas to question them about,here are some hurdles i have to deal with in se qld.

1- zoning- are in in a low/med/hi density residential area- if u have the wrong zoning u will need to apply for a material change of use for the block and submit that at the same time as your d/a application.some councils will reject this,some are fine depending on the area your in.

2- minimum title size- here we have a minimum title size of 400m2 on a low res block + common grounds + common driveways.so that means here we have a minimum block size of 930sqm to duplex as bare minimum.medium density can be as low as 300m2 per title or upto 4 titles per 1000m2(it used to be upto 6)

3- common property – here we have a minimum driveway size of 8m wide,bloody stupid,but its true for duplexes.

4- d/a times – depending on your zoning and proposed development type your duplex can be code assesable or impact assessable.this can mean a 3-5 months approval time to a 6-9 month approval time,so as your financing all of the costs,this means extra holding costs.

5 – build times – res builders can contract out to 8 months to build a duplex,whereas a good commercial builder here can do same thing under 3 months.

6 – pricing – cheaper is not always better if it takes twice as long,which means holding costs. a res builder here is about $1000 per sqm,commercial builder is $1100-$1200 per sqm,but can build in less than half the time,so the commercial builder is better overall.

7- check your planning and headworks costs on the project

how much are duplexes sellign for there? my costings from start to finished and sold for a duplex will cost around 480-530k with end sales of 600-640k.u must have very good sales prices to make 150k clear of profit of just one half of the duplex and after taking into account holding costs on the one your living in till it sells.