Yes, but apparently tickets are likely to be quite limited if you don't already have one as part of an earlier package deal. It will be in Melbourne.

Great info thanks Maddie.Which valuer is best and which banks have them on their panel?

Your negotiations will be driven by the various tender responses you receive for your build from each builder, not by what the posters at Somersoft forum have estimated.They should be able to provide you with a breakdown of the cost drivers and you can reference the cost base of each component of all of the builder's offers to negotiate the best…[Read more]

Christian, if you supply fixtures and fittings, would the builder normally place their own margin on these items anyway?

For example PC sums for tiles, carpets etc where the head contractor is also the project manager.

Would you normally deliver them to site, or expect the builder to collect them when required at the appropriate build stage?

Christian, your earlier post was spot on, it aligns exactly with my post here https://www.propertyinvesting.com/forums/property-investing/value-adding/4343689 but explains it better.

BTW I am currently doing 3 bed, 3 bath, single garage townhouses which are 125 sqm, in a location where the builld costs $1,800-$2,000 per sqm turnkey. 200 sqm may…[Read more]

Need to keep them long enough to avoid income tax and gst. I have plenty of exposure to the Gladstone market though… 14 townhouses currently planned.

Would be a pretty short list:
Moranbah
Dysart
Blackwater
Newman
Port Hedland
South Hedland
Karratha

All make the list comfortably at 10%+ yields and near 0% vacancy rates. Go the mining boom

Sounds realistic.

I am building two townhouses on the back of an existing house in Gladstone. Total build cost around $600k, each will rent for $1,000 per week in the current market, for around 16% yield plus depreciation benefits of a new build

Some do. There are tax advantages in building townhouses, selling some and keeping some.

For example if you build 4 townhouses for $1 million including land cost and can sell 3 of them for $1 million, you can retain the 4th one without having made a profit under ATO rules. You can then leverage off that asset by borrowing against it, to get your…[Read more]

No, but it will include carpets, tiles, landscaping, fencing, aircon, oven, dishwasher, antenna, driveway etc.

Excludes land, council fees, architect.

I have built in Melbourne before. You can do turnkey project homes for $1000/sqm, but 2 storey off the plan is $1500+ for everything.

Where do you plan to develop?

Check out this site for estimated build costs
http://mortgagehouse.com.au/construction/construction-costs-per-square-metre.aspx

It advises 3br, 2 level brick veneer townhouse, including allowance for common property, medium finish $1,480/sqm

60%?? Is that now their standard?

Is there a table that someone could point me to of all the bank loan criteria, or is it a closely guarded secret?

I should also add that the comments at the bottom of the page are extremely amusing and clearly reflect the level of understanding of the readers.

“First of all progressively inhibit or totally remove the ability to negative gear property investments beyond the primary residence of the owner. Why should every other taxpayer be subsidising some…[Read more]

Moranbah is a market where there is an extreme shortage of housing. How does rent capping encourage the desparately needed investment in housing?? Who would build a negatively geared house that could never achieve market rent?

Talking to people in the know in major mining companies there, the key issue is how slow the government agencies are to…[Read more]

That build cost sounds awfully low, if you are doing 2 or 3 storey builds. Allow $1500/sqm+

I have over $1 million profits lined up on the 3 deals. That was all the motivation i needed. I am doing all 3 concurrently in the same market. I got jv partners onboard to assist with financing them. I actually met the jv partners for the 3rd development on the course with troy harris. I am doing huge hours to do the developments, but the key is…[Read more]

I already had 2 development sites and now have a third. Not investing in melbourne or sydney though, the returns aren’t high enough.

Hi elmodogg,

Also look into Troy Harris from Rookie Developer. He develops in North Melbourne and runs a bus tour of his development sites, as well as a 1 year mentoring programme.

I’ve done the bus tour and it is worthwhile.

Actually an article today advises that the better growth was in Gladstone. http://www.gladstoneobserver.com.au/story/2012/02/22/leading-the-price-rise-pack-property/ Gladstone +$60,000 Calliope +$41,000 I see it as similar to Port Hedland vs South Hedland. The best growth occurred at the port. Gladstone will be the same. Travelling…[Read more]