Forum Replies Created
Gday PEP007
Would depend on the srtrucrure you are proposing.I dont hold for capital gain,i buy and create capital gain selling usually in the financial year i buy,depending on the closeness to the efy.Therefore,a double would be mandatory on one title,to split and make a capital gain.Open to ideas,my strategy is not hard and fast,drop me a email at [email protected] .
Hi,
Yes,you are correct.All the semi,s are ex housing trust stock.Also,some areas are better than others.On viewing realestate.com sales,there seems to be a lot of competition when 2 duplexes come on the market together.Expect to pay 220 to 270.
Without property investing,i would still be driving a mini.
I get my release from restoring cars,being a Holden boy,the collection includes only classic cars of the 1970,s.Have a HQ SS,HX Sandman ute,HJ Sandman van,HZ Monaro,HJ Monaro,HQ Coupe.I have a bloody big shed!!!!!!
Zem get the councils development plan and study it so you have a thoughough understanding what is allowed,and what isnt.Look for service issues with power,water and sewerage,and ask questions,but never let the 1st answer you get be the be all and end all,especially dealing with council town planners.
Enjoy the journey
councils frustrate the livin daylights out of me.Michael,
In doing a double hammerhead,this would give us 2 parcels of land each being 1900sm,each would then have a seperate entry/exit point,these would still be community titled as the water and sewer would be a shared service.How do we get around expensive civil works?In our current plan we have 5 blocks,if we reduce this number and increase the block sizes,will this eliminate sealed driveways etc if we reduced to 3 blocks with a common driveway?I am trying to get an answer from council as what is the max amount of blocks we can have without going down the civil road approach.
Yes,this was considered,but woulnt work as there is a house already on the block,forcing a hammerhead development,As the land is 120 m X 40 m the driveway handle being common land leads down to the usable land,being 3850sm.Maybe a double hammerhead would work?Any thoughts?
Cheers !
The positives were the money was good,and vacancy was nil,doing it again,i would be looking at a property manager to keep everything at arms length.But,im totally over it,good luck wiyh your venture.
Hi Michael,
I do small sub divisions here in SA,in good growth rural areas.At present we are in the process of dividing a house on 4850sm,down to a house on 1000sm,then community title the remaining land into 5 X 5 housing blocks with the rest being common land.
The difficulty i have experienced is you do the due dilligence with council and surveyers etc on possible conditions before you buy the land,then once development approval is obtained once you purchase the land,the conditions included have been added in after you have queried certain things.As an example we were told the entry/exit point would not entail a sealed road,a gravel point would be acceptable,now one of the conditions they want is a sealed road,which probably need the services from the road points down to the blocks,this wasnt in our original costing,what are we supposed to do here?we are obtaining civil quotes but they may make the project unprofitable.We could revert to dividing into 2 hammerheads instead,but im not sure being a private driveway(2) would require the same civil costs.Look forward to your thoughtsJim
Hi,
Im Jim Mcintyre.Live in Adelaide in the Adelaide Hills.Have 2 rural investment properties,and subdividing a land parcel into 5 X 500sm house? land packages.Decided recently to have a go at developing,and dont believe everything someone tells you.Ask the questions on this forum,there are a lot of very smart people on here,so use their knowledge to move forward.
Enjoy every minute
Jim
To auction is a lengthy process,ads in public notices etc,usually after 6 months of trying to get your money.We used to get auction houses in to clear the contents off the premises,they are usually advertised as default to rent,surplus sales etc.In the worst cases,i found over 60% of clients were either doing a runner from landlords,or ex partners etc,it can get very messy with he owns/she owns.Threats of bodily harm are frequent to intimidate you so in my opinion,its not worth it,if you think its right for you,get a good contract in place to cover yourself,as believe me,at some stage,you will require it!!
Hi V8Ghia,
Cool username,We have been investing in Naracoorte for 4 years now,have 2 houses,and presently sub dividing up a parcel into 5 X 500sm blocks.We like the fact the homes are a bit cheaper,but the rents are really good,and resale is not too bad,as we sold 1 house last year which took 3 months to sell.
Cheers
JIm
Hi,
I operate out of Adelaide doing small sub divisions.I have and always will use Alexander and Symonds,they do the lot,all you have to do is pay the bills.I have always let them do the due dilligence,they dont charge for this,and can get you the upfront costs,so no surprices.
Regards
Jim
Hi luke,
Naracoorte is a 8000 population town,supported by keys meatworks,(who are expanding)agriculture and wineries.Our investing there has always been good for both capital gain and rent yeilds around 8%.Out of all the real estate companies,and i have dealt with them all,only one stands out.I really think the lazy agents should find another career,so we only now deal with 1st national.Any other experiences would be appreciated as i think some agents are holding the industry back.Country time i call it.
Cheers
Jim
Hello all,
I used to run a large storage & removals company in Adelaide.My view is NEVER again.i have since sold because of the problems associated with the clients,my experience was 50% were always late,you have to go through a lengthy process to evict or auction,i got taken to court twice with related storage issues,and won,but really,is it worth it??Put your $$$$$$$$$$$$$ into something else.
Cheers
Jim
Hi,
I am a South Australian property developer.From the start(15 years),i have used Anglesey accounting in Aberfoyle park.Speak to Jason, [email protected] this accountant is a wizard at draining every cent you are legally entitled to.
Regards
Jim
Love the comment on the 8PM rule.Has a certain amount of merit.
Cheers
Jim
Hi Ashley,
Thanks for the comment.I have worked with the surveyor before,on other projects mainly subdividing established houses on road fronts,so this sub dividing is new to me.although so far there has been no surprises,which is good.I am taking the surverers advice,to keep costs down,my other issue is i am in a joint venture with a builder,and he is suggesting the tails to the block frontages,which reduces the services work,reducing his costs i would think.
Cheers
Jim
councils frustrate the livin daylights out of me.
