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Because I thought I might have had some responsibility as the developer who arranged the tradesman who installed the fence.
I no longer own the property, I sold all three units off the plan.
Hi EdmundSt,
the price of building new dwellings really is more accurate when you work on a per square metre rate. How big are the units or townhouses you are planning to build? Are they brick or timber, are they single or double storey? Do you have tile or colourbond roof etc? All these things can make a massive difference to your calculations.
The demo is also subjective to the dwelling you wish to demolish. Is there any asbestos involved? It's easy to make a few phone calls to demolition companies, they can give you ballpark figures.
Do you know what all your plans and permits are going to cost? Do you know what your sales prices will be, if you are planning to sell? I wouldn't go out of your way to seek out a super cheap builder, it will reflect in the finished product. You get what you pay for.
You'll be surprised how much info you can obtain from local tradies when you supply them with the info required for an accurate quote.
Good luck!
Get a job first, you will need to wait 3 months to clear the probationary period before a bank will give you a loan based on your income.
It is imperative you educate yourself about all the options available to you and work out what is the best strategy for your needs/desired outcomes.
You can get some serious leverage off $500K and if you set yourself up right to start with you can create a fantastic portfolio. Get some books mentioned by the authors above and also check this site out. They will post you a free copy of their book. http://www.yourempire.com.au/
Another option I would recommend for education is RESULTS mentoring. Their 12 month program has just started on the 1st July so it won’t be too late to join if you were interested. It’s a very thorough mentor-based education program that covers all aspects of property investing.
http://www.resultsmentoring.com/Good luck!
Sorry I posted my comment to the wrong thread.
Hi dtrump,
No it’s not the NRAS. The current owners have a lease with the Dept. of Housing who then sublet to tenants for whom they subsidise the rent. The tenants are all in need of housing. I am in the process of talking to the Department to gwt an understanding of their position and possibly what their intentions are for continuing to rent the property in the future.
Hi Peter,
no real secret areas per se. Everyone has different reasons for investing in the areas they do. I suggest you subscribe to some property mags, such as Australian Property Investor. They provide alot of info on where other investors put their money via profile stories, a state by state round up of what’s hot as and also the API databank which provides comprehensive info on the state of the Australian property market.
Good luck!
Hi Peter,
no real secret areas per se. Everyone has different reasons for investing in the areas they do. I suggest you subscribe to some property mags, such as Australian Property Investor. They provide alot of info on where other investors put their money via profile stories, a state by state round up of what’s hot as and also the API databank which provides comprehensive info on the state of the Australian property market.
Good luck!
Thanks you both for your responses, greatly appreciated.
Terry, I already own my own home in my own name so that’s sorted. I also have another apartment in my name. I just didn’t want to get up to having a handful of properties and hit a wall by not being able to borrow any more cash to buy more. The accountant advised me that even with a trust in place the banks will lift the corporate veil and see who is behind it. They will know it is still only one person’s income guaranteeing against default on payments.
I still think it’s worth setting up a structure in which to purchase further IP’s and will do more homework as to the best best way forward for me.
Thanks again for the advice.
Tracey
