IT all comes down to you. Asking us if you think you should be happy or not isn't really the way forwards. Ask yourself if the situation is better for YOU or not. If you go from negative geared to positive, good. If you go from old house to new, with depreciation benefits etc, good. If you could sell for more with a new house rather than old,…[Read more]

Agree with AIF. If you try and talk them down too far they lose their margin and given its off the plan, the presales need to show a 20% minimum profit otherwise the bank won't fund the development. Asking price is usually there for a reason and you'll find its usually cheaper than a 'retail' market price..

Thanks Richard,It's as I thought. A complete waste of time.Appreciate your time and feedback.CheersMatt.

Thanks Richard,I'm looking for more specifics. Actual rates and LVRs etc. I know roughly how much equity I have in a residential property. If I know what % that has to make up, I can then start to look around within a set price range etc and make decisions on if it's worth it or not.That's what I thought re: the business itself. Do they count the…[Read more]

Again, illuminati is correct. Your position will be dictated by if the offer is to give you the property unencumbered or not. If you want to know what it's worth, look at comparable sales/for sales in the area, speak to local real estate agents for an appraisal. That should give you an idea of how accurate the house and land value being presented…[Read more]

As Illuminati said, if the new house and land is good value, and will meet your needs then go for it – a lot of developers wouldn't offer this. It gets you debt free with a house which is, all things being equal, a good position to have. Don't get greedy would be the only advice I'd offer, there's plenty of stock out there for developers to build…[Read more]

Sam – that is one loaded and potentially dangerous question as it brings into play Will and Testament and if the person dies intestate and so on. If the will deems the property to someone else, it may null and void any option document, or at very least put it into question with relatives etc. Definitely one for a solicitor to answer, it could be…[Read more]

I always suggest going out and doing some research yourself first and foremost. Property development is taught at TAFE and Universities, so there must be text books, literature, and other forms of media available out there for people to access. State Libraries are always a good place to start, as is the internet. While tedious, you can search and…[Read more]

Thats it Graeme. YOu can never know too many people I think… just need to be sure everyone is who they say they are I think! Some of the things I've learnt, especially in dealing with the larger developers, is always keep your powder dry, never give away too much because they'll get you out of the way any way they can I've found, knowing people…[Read more]

Yep, is a how long is a piece of string type of question, some things go to plan and go up in 6 months, some take 18 if council delays things or weather or materials delays.. etc etc.Civil works (sewer, roads etc) can also take a while. Easiest thing would be to ring a builder and ask. they'll only ever give you a guesstimate anyway.. but at least…[Read more]

I think its very individual with Councils, if you're doing a material change of use to a residential zoning, it may be easier, if its already residential zoned and you're looking to subdivide it further, then yeah they'll probably want to see indicative building plans which of course adds to cost of the DA, but most DA's I see on land lots for…[Read more]

Get it under option first. Developers won't talk to you unless you do pretty much, or, they'll try and get the address from you and get it themselves. It's relatively small, so you could start ringing around smaller builders to see who's looking for projects. Real Estate agents may know who the local players are, Master Builders Association may…[Read more]

Take a look at bmtqs.com.au there's a calculator on that website that gives you ballpark figures for construction and quality etc.. not perfect but enough for a basic feaso.

Thanks Christianb, much appreciated. I'm a process driven being, thus my question was phrased the way it was.You're dead right about the agents, got a few good ones I work with up here, just expanding the network further.cheers!Matt.

LMI, particularly genworth, are a massive rort on the industry, and in many ways hold banks to hostage if you can believe bank staff, which in my opinion you can't. I don't know who regulates them but someone needs to go through the LMI industry with a large burning stick to get rid of the current dead wood.

Agents don't like options as there's delay involved between when the property is taken 'off market' and they get their commission. While options are common in larger development scenarios their use isn't so well known (although still common) in smaller subdivisions. Vendors generally aren't aware of them either and to them it sounds like not such…[Read more]

Good luck with it Beedie, I hope you have a win.

Knowing Council, especially the BCC, if the DA isn't actually lodged they 'could' argue it doesn't exist, thus the uplift in value on the property doesn't either. If you tried to lodge now, they could argue that you 'should' have known about the Cross River resumptions therefore its not 'their' fault. Playing devils advocate here, but I'd suggest…[Read more]

Hi DavidHappy to chat. just email me and we can go from there. subrosa0072000@yahoo.com

Funny that transaction mentioned prior through Sandfort…that's the same company name that Mark Rolton and Massland use…coincidence perhaps?Hmmmm..