TourMalineYou need to check the minimum site size for a duplex as I have a feeling your land is not gong to be big enough. Ring the planning dep at HSC and ask to speak to someone. Be prepared to be put on hold and to have to leave a message. Find out whcih Ward of the council your land is in eg A,B,C. You need a copy of Council's Development…[Read more]

Hi Rodeo Thanks for that. I don''t think my little venture sounds as large as what you are doing….Lucky

That is heartening. I will ensure that my development meets all requirements, meet with the town planners and explain to them that I happend to have friends in the planning department! lol. Perhaps mention Frank Sartor's name? Just kidding. But I do think the key is just to make sure everyhing complies and well. I will expect neighbours to…[Read more]

Rockian wrote:
If this is true Lucky then I would be reporting the council to the State Planning Minister or at least go to your local member and demand for an explanation. That is atrocious.  I have recently put 2 successful D.A.'s for dual occ through Byron Shire Council who have been notorious for hold up's. To my amazement the first was…[Read more]

Kanchi,From my experience the hassle of building something is well worth it. Not knowing your area I couldn't tell you how much you would make… the best way to find out is to look at other houses in your area and see how much new ones are going for. Then visit some project builders and get some quotes to build something similar to what is…[Read more]

Hey allThank you for your thoughts… and input. I think I will look in to doing one of the courses recommended, but don't worry, it won't put me off doing something sooner rather than later either!Lucky

Hi Richard and ScottyHow good is this forum? So… does this mean I should make within the LOC a sub-account for personal matters and a sub-account for investment purposes? Is this the best thing to do? And hey Richard…. you are so good. I will email you about the investment loan that I haven't set up yet pending my trust structure..This forum…[Read more]

Thanks Scott. Will contact Council first up. Anyone out there know of good quantity surveyors in the Granville area of Sydney?CheersLucky

Hey allMy partner and I have just used Chan & Naylor to set up a hybrid trust for the purpose of IP stuff. We have also set up a line of credit with the intention of using this to fund our first purchase (as a deposit). We will then be looking at securing a construction loan as we have our eye on land that can be sudivided. Richard, I see you…[Read more]

Hi L.A. AussieI though as much. Means there is a market for such a thing????Lucky

Wow! I am sooo disappointed. I have no investment assets pretty much so got a score of 113 days. Which means I can only last until June! Yet I own a $600,000 house? Until now, my husband and I have not been brave enough to invest. But we are sooo ready now, just waiting on the next interest rate rise to see what it does to the market and then we…[Read more]

Yeah.I was all ready to jump in and things are still selling pretty quickly around here (Sydney) but I expect a lot of cooling in the market after the next lot of rises… but I am so eager to get on board! Very frustrating!Lucky

Good on you Michael. Will be there!Lucky

Hi RichardThank you for your advice, it is much appreciated!RegardsLucky88

I would prefer not to sell PPOR as it is fully owned and I am gearing it to by the first investment property. The investment property is a house with land. Got it for a good price and should make at least $50,000 on it when project is complete. Using line of credit to pay deposit, then a regular construction loan to build the house. I guess I…[Read more]

Hi KanchiDon't sell the land! Why don't you build something on it first? If you sell, you lose half of what you make (dependent on your tax bracket) straight away which would be a waste. You could go to the bank and ask for a construction loan, build on the land and pay for the full thing at the end. Usually, after you build the property is worth…[Read more]

Great!Thanks for that Scott. I will do some foraging!

Scott No Mates wrote:
Consider using a local solicitor who deals mainly in the area eg someone based in Kellyville/Castle Hill/Norwest as they will know the area fairly well and be well acquainted with any proposals that may be under consideration. You may raise the question with them to confirm how active they are in the area that you are…[Read more]