Hi IDH, As a norm during my residential development projects (typically 2 or 3 on a block) (and in VIC) , I get quotes at two stages:Firstly Town planning drawing stage. Before finalising TP drawings and submission to Council, I get preliminary quotes. These can vary lot as they are nothing more than  ball park figures (most builders will not go i…[Read more]

Yes it should do. The square meter used as a guide,  should include any garage / carport / alfresco area. However you should always ask the question to avoid any confusion.mccoz

Here's another property related app you may be interested in.  It's called myHomeCalc. It's free and is a useful interest payments / loan calculator, plus stamp duty calculator. A friend of mine wrote this apps and has just released it. You can read about it here http://www.cajgi.com.au or on i…[Read more]

Thanks for the link Duckster. Very useful.Will look further into it. Thanks wilmaccaccmccoz

Hi Michael, One option could be to enter into a joint venture agreement with a builder, whereby you put up the land, and continue to keep paying the mortgage on the land,  the builder finances  and constructs  the homes, and he keeps one as payment. Sometimes a financial payment may be necessary to balance the deal, to ensure a win / win to both p…[Read more]

Hi Michael, One option could be to enter into a joint venture agreement with a builder, whereby you put up the land, and continue to keep paying the mortgage on the land,  the builder finances  and constructs  the homes, and he keeps one as payment. Sometimes a financial payment may be necessary to balance the deal, to ensure a win / win to both p…[Read more]

Hi GPD, To answer your last question. I think for starters, you need to do two things: – acquire knowledge. Read some good property books, and  they may assist you in deciding on your strategy. Development  / Renovation / Buy and hold  / location / size of project etc etc.- find some like minded people who are doing what you are doing. As Duc…[Read more]

On the same theme everyone, can anyone assist?Is it more difficult to lay Rectified ceramic tiles? When compared to an average ceramic tile?I understand that normally, builders will charge extra to lay porcelain tiles when compared to ceramic. My builder has advised me that the  rectified ceramic tiles 60 x 30, that I have chosen are categorised…[Read more]

blairach, Are you still looking for a house on a vendor finance deal? If so, please email me to discuss further. Mccoz

Ok. Thanks Richard and Tim for your comments.Great that I have options.  What I now  need to do is to firm up my business case and show the banks how solid this deal is, to improve these options. Thanks again.mccoz

Hi Kim, i have just been going through the same process.  With 3 units, as you have found, your choices are limited, for residential loans. I was looking for a loan which would give me leeway to capitalise my interest. I found that: – NAB come back with lower end valuations in general, which made this difficult.  – St George calculated my le…[Read more]

Hi Bluemist.
Your S32 and other docs (eg. for auction purposes) should be prepared by your Conveyancer, or if you choose to do it yourself, use a Conveyancing kit.

As a Victorian, it’s a system that i am used to. When I sell my property, I go to the Conveyancer to organise all the legal stuff, and to the REA to find the purchasers. Sounds like…[Read more]

Thks for your replies.

When doing my initial numbers, i hadn’t even considered salvage costs, so anything i can gain will further protect my profit position. That’s great.

Andrea, i just bought signed contracts on a block of land in Ashwood. it’s an above average block for the area at 1200sqm, siiting on the edge of the ex commision area. plan…[Read more]

Hi audrey123,

A couple of weeks ago, I purchased a block of land 1170 sqm, in the inner SE suburbs of melbourne, with a 6 month settlement. At this stage, will be building 3x3bed on the block . This will also be my first development project.

Things I needed to consider before signing the contract that was specific to the land:
– trees. Two great…[Read more]

hi, i’ve just bought a block of land 1170 sqm, in the inner SE suburbs of melbourne. At this stage, will be building 3x3bed on the block . This will also be my first development project.

Things I needed to consider before signing the contract:
– trees. Two great cedar trees on the property which were potentiall a problem. Hired an arborist in…[Read more]

As with Wylie, for our first investment renovation, we borrowed – spare beds and bedside cabinets from various friends, to fill up the bedrooms, took all prints off our walls in our home, and borrowed a sofa. In the end, we only needed to hire a dining room and chairs, and a fridge, which significantly reduced our costs. Glad in the end, as…[Read more]

Hi Caroline

I agree with Erika. Regardless of whether you intend to invest or not, you should proactively take an interest into the money affairs of your household and be aware of outgoings and incomings. If not just for extra mental stimulation (i’m a fellow stay at home mum), but also to be better prepared for worst case scenarios. (god…[Read more]

Dazzling,

good luck with this project, it’s a winner. i use skip hire from a company who does the same thing in the outer SE suburbs of Melbourne. Their clearance rate on rubbish is up in the high 80s/90%. Because of this, their costs are significantly lower than other competitors, which mean their skip hire charges are alteast 30% lower than…[Read more]

thks foxyac

Hadn’t thought about funding from the bank using 80% of the perceived value of land plus plans with permit. i will certainly look into this.

Thks for the tip

Mee Chee

Hi Mabbot,

I started my journey in property investing earlier this year. My husband wasn’t sceptical, but I knew he felt fear. i researched myself, carried on and at the end of the year have 2 investment properties under my belt, with bigger ideas coming up for 2006. Within that year, I got hubbie excited about getting involved in an renovation…[Read more]