I have another question – as a newbie and all to this game of buying and negotiation – how do you ask the sales agent "why" the landlord is selling? Is there any good way, apart from just coming out and asking the question, ect?

Cheers
Marie

Hi JacM

I haven't found it yet as the person I have got in touch with to ask hasn't got back to me. Thanks for the info.

Hi Scott No Mates

I think you are on the right track. I do think, however, that if the property was bought a long time ago (depending on other circumstances) they may not require full market value for the property (just one example off the top of my head).

Definately need to do more research on what has sold and for what in the area – but that is why I need to get my hands on the reports.

Cheers.

Afternoon S

Thanks so much for your help. I am glad you saw this to comment on. I would love to see some of your work. Are you doing any subdividing/reno's at the moment? 

Since I wrote my first post here I have been looking at the sums for what you have recommended (subdividing and reno). I didn't think that the Triplex idea was worthwhile – esp. given the market is over populated for Triplex dwellings and the holding costs, also. I have seen a few realestate agents taking photos on my drive bys around this way lately but haven't seen any "sale" signs up – I guess that might indicate they sold quickly. I have two just down the street from where I am, one duplex reno and a subdivision/reno, I would like to nosey in the window to see what they have done.

I must admit I was a bit blown away by your recommended $15-$20k for renovating. I guess it would depend on the house, I don't know. I was looking at something like $40k for the house I was thinking of renovating. I think the bottom figure <profit> was roughly $90k providing demolition of the granny flat was $10k and subdividing costs were just $20k. Have you got any ideas on those costs? One person I spoke to recommended I allowed $30-40k for subdivision.

Thanks D!! You are most helpful.

Can you tell me of a development you have done, recently? Not for my research, just for interests sake.

Bye for now.

Anybody???

Can anyone tell me where you would go to find information concerning who is building at what block, etc ,etc. Is this information available? I thought I would see what is similar in the area and try to get the information from another developer as this is my first attempt. Your thoughs are appreciated!