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Make sure that 24sqm extra is all you’ll need because the amount council say you need to subdivide is that amount plus access/ driveway.
My neighbour and I both have 1200sqm and are both about 50sqm short to subdivide and both don’t have all the fund to subdivide because in or area to get it through council cost about 7k and to get all the works done cost another 100-120k. So instead of battling seperate we’re doing it together which is great because we should come out with about 225k profit each. But friends down the road did it themselves and bought land off the neighbour.which work out well. They got all details toghether and a feasibility study off a town planner/surveyor before they approached the neighbour. The company they went through basically did every step of the process except the legal side of things. If you don’t wont to go down that path you can usually at least get a rough costing and whats involved from a company like that for free just by making an appointment and asking lots of question. But do all that before you appoach the neighbour in case for some reason you can’t do it. You can get a valuer in to give you and the neighbour a far price for the land. But often the neighbour will get a bit more if you really want it. because you stand to make a fair bit more from the transaction. One last thing is to ask your local council if they have a pre- lodgement meeting with you so you don’t go to the expense of lodging an application if they want you to change things.
Hope all this helps if you have any specific questions i’ll be more than happy to answer them for you if i can.hi guys,
I love that quote pip .You have to breath out before you breath in again.
I just warn all the other to be carefull in this market as a profit isn’t realised until it’s cash in your hand.
If we are at the top end of the market , i’d say we’d have to pretty close if not there already, then you might end up like the stupid game show contestants on “Deal or No Deal” that think they they could get just that little bit more if they take one more pick but end up walking away with little or nothing. That’s not smart investing, its just gambling.
Don’t foget another qoute by Steve ” Multiplication by division”
I’d say cash in those realised profits.Thanks guys so much for your help and comments. Adam thats a great idea, I will do what you suggested.Would make so much more sense to go to the masterclass prepared.
thanks againThanks World changer and Thomas for your thoughts.Wealthguardian is product that steve sells to help you understand the different ways to protect your assets and any tax implications. I think im going to have to buy it before i do my next deal,whether thats before our after the masterclass i don’t know. I’d rather put any systems into place now. It might save me a lot of money in the long run. [smiling]
Thanks westan
come on. I need some help. Someone must know a little about dird-dogging.
Only a problem if you have to disturb the fibro i.e. reno, demolition etc.Cost a lot more for demo as the guys that do it have to be suited up the area enclosed so the dust doesnt get out and disposal at a tip is more ex because it has to be wrapped and burried. And if you decide to do any of it yourself then take every precaution because i know someone who parents did a reno 20yrs ago and she now has asbestos poisoning. so please take care
The morgage I have on our investment property allows us to draw on the equity at anytime. so all i’d have to do is ring them to get a bank cheque sent to me or transfer via internet banking to my cheque acc and then get a bank cheque from my local bank. Hope this helps.
