Thanks very much Richard. I checked with the NAB and they seem to need a rental contract in place, so I thought it might be an uncommon thing to use an appraisal.

This is a great idea, and I think it will be the way of the future as land gets more scarce, and first home buyers realise that this is a great way to get into the market. As long as you all have the same vision at the outset, and you investigate it with Council, its exactly what most developers do – i.e buy a block of land, subdivide and build a…[Read more]

Try looking on  http://www.byohouse.com.au about it – maybe you can find some info there.Check the forum out. you might be able to get advice there –

HI Kiwi Fulla, any chance you had a few spare moments to share a few thoughts on lease options. I read your post above, and it sounds interesting, but I don't know alot about the process, and risks. If you care to share, that would be great. Thanks

The best way to start is to find out as much through your Council LEP(local environment plan) /DCP- you can probably download from the council website in the area you are looking at, and also go into the Council office(or call) with the address, and see if its suitable for a subdivision. Go in and have a chat to a Council DUTY officer – this is…[Read more]

Thankyou everyone. Yes I checked the ATO website and its a similar example. Very helpful.

<!– /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0cm; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} @page Section1 {size:612.0pt 792.0pt; margin:72.0pt 90.0pt 72.0pt 90.0pt;…[Read more]

Don that sounds like a great deal, BUT i have heard that there are massive new housing estates planned to increase the existing housing stock which is currently in short supply around Karratha. There is a new development which  is currently in the planning stage, but has a timeline of completion for a few years only, once construction commences.…[Read more]

I think there was lady around the melbourne area  who built a 35sq.m(approx from memory) home (with a bathroom and bedroom in the roof space – sort of like a loft space) , not so long ago. She built it from mud bricks – and owner built it herself.  It coost her $20 K to build! So that is the smallest house I have heard of. (and the cheapest!)

Thankyou Scott. I see what you mean, but I was thinking that I may be able to claim the losses each year (in  my usual income tax return which was prepared for my day job) somehow? Would it have reduced my taxable income if I made a loss of 10K on the vacant land each year? Thats more the point of what I was hoping to claim. I'm not sure if the…[Read more]

Thanks Scott. who si the best person to talk to about this finance arrangement? A solicitor? And is this a common thing real estate agents know about? mY RE agent is a young one. Also because the deeds are held by the financer, is it like anormal bank loan, where I can renovate the property(or demolish it as I plan to) and do what I want even…[Read more]

I posted this in the wrong section I think – so have reposted in the finance section.