Hi Everyone,
Well last week I quit my day job to invest full time!! My partner and I have settled on a few house a couple of weeks ago (we are renovating and subdividing for profit) and have just got the new one that we keep us busy over the next few months!

Kate :)

Hi Phorsha,

I have done 2 subdivisions in the past year one with one block out the back and the other with two. Our costs were a lot higher because we needed a carport and also needed to upgrade the whole façade as it is survey strata. As Kent said it also is subject to the conditions of the subdivision.
The biggest cost we have incurred if the…[Read more]

ten_burner – having not heard of a hick town before and doing a google search the first thing that came up was “a person who lives in the country, regarded as being unintelligent or provincial”, perhaps it is common for the people you know to see it as someone from a regional town, however I would be careful what ‘slang’ you use, especially if the…[Read more]

ten_burner – I would really like to know what you mean by ‘hick’ towns. From a quick google search of ‘hick’ I came across
“a person who lives in the country, regarded as being unintelligent or provincial”

I find this extremely offensive if this is what you are implying – I myself come from a town of less than 500 people and do not believe I am…[Read more]

Hi Phorsa,

Our strategy is to renovation and/or subdivide and sell so we are looking only at houses at this stage. Once we have enough capital we will be able to buy properties with good rents and capital growth outright and live of the rent (that's the plan anyway), but right now we are focused on building the capital base.

Thanks,
Kate

The only one I would consider on this list is Maylands – but my strategy is not to wait for long term growth.

Thanks suavemechanic – appreciate your replies

Hi Connolly,

Your best option if you have the time is to source the trades separately and buy the materials yourself. For a bathroom that size I wouldn't pay more than $5k (for an IP) and I am in Perth. It is about getting multiple quotes for tiling, plumbing etc and sourcing the tiles etc from cheaper stores that sell the same product for…[Read more]

Hi Azazel,

As I said no I have never been to QLD.

Thanks

Hi Ynchai,

I work for a building company and would like to point out that sometimes there are things that come up outside of the builders control and will be extra costs, this does not mean the builder is trying to rip you off or get more money from you, but they need to cover their costs as well.

The contract should have a clause regarding…[Read more]

Personally I don't beleive you need to go to Uni or Tafe to become a property developer. I did 3 years of a Town Planning degree and learnt nothing even related to what I am doing now (renos and subdivisions). I learnt the most from my own research and actually taking the plunge and doing them first hand. There will be some courses that will help…[Read more]

Haha Jamie I didn't mean to imply 30 was old! But for Tom it is more than double his age!

Hi Tom.

Although I agree with what everyone has said getting educated etc, can I just say make sure you are having fun! Hang out with friends and have fun, don't take life too seriously at this point you are still so young!
I am 23, started at 19 and have bought 6 properties now and I think I'm in a pretty good position in my life. My point is…[Read more]

Hi Guys,

I was meaning exactly what Terryw has said. I have read this strategy in a number of books and they all mention if it is structured correctly the 'middle man' so to speak won't need to be stamp duty, only the final purchaser. However, it never went into detail as to how this is possible, hence the question.

Thanks,

Kate

Hi Guys,

My partner and I invest in Perth and focus on subdivisions and renos. Last year we did 2 renos/subdivisions in Bassendean, but now we are looking for the next one Bassendean is not as viable as it was a year ago. Prices have increased too much to make anything worth while and properties are being snapped up in a couple of days.

We have…[Read more]

Hi Mark,

I just need to find our specifically about developing on a block that is already part of a strata title – do you know if his was?

Thanks,
Kate

Hi Kirsty,

I have used Kevin from Jamie's recommendation and he is very good at was he does.

Thanks,
Kate

Hi Cathy,

I use Prak from Harcourts Maylands. He is an investor himself and is really good at what he does, he has sold 3 blocks and a house for us

Thanks,

Kate

Hi James,

You could possibly be spending money to lose it! People pay for character homes (depending on the suburb). If the cornices etc are in good condition, don't pull them out!!! With the timber you may also be talking about a picture rail? About 3/4 of the way up the wall and this is a character feature as well! What suburb are you in and do…[Read more]