Ié had a termite infestation in one of my investment properties and it is a very expensive affair.

It’s ahrd to tell how extensive the damage is. It’s not worth baragining down the property.

Make things easy on yourself. Move on to the next one.

Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 1…[Read more]

Originally posted by Property Passion:
Its all in the title. just putting the question out there for developers.
This way us budding developers can learn and know what to learn.

cheers

I’ve been involved in proeprty development since the mid 80’s. I stated doing renovations, the progressed to developing townhouses.
I had no formal building or…[Read more]

Donna

All our residntial proeprty insurances are with CGU – our insurance broker suggests that they offer the best cover.

I am impressed with the new policy that AAMI are offering. It seems to cover building insurance PLUS landlords insurance which you normally take out separately. I will invetsigate it when my other insurances fall…[Read more]

ARchitects fees are not an area to skimp on.

I’m sure you’ve driven past lots of new properties that are drab and boring.

You would have also seen some properties that catch you eye and are appealing.

A good architect can add much more value to yor project than what he costs.

The fact that you fell good with the architect is important. trust…[Read more]

Cabo

Property development is an exciting industry with lots of opportunities. There is of course no school of property development so people come into it from all backgrounds.

Our property devlopment company http://www.metropoleprojects.com.au employs 9 people directly but many of our functions are outsourced as happend with most small developers. We…[Read more]

Originally posted by Dr.$:
Can any body advise what is required to get a block of units on one title (Vic) to be strata titled. Cost, timing and requirments etc..

xxx

Your first port of call should be a land surveyor who will prepare a plan of subdivion and submit it to council.

The cost and timing depends upon whether the block complies with…[Read more]

Its a great strategy looking for highly motiveated vendors, but you will probably find better bargains amongst;-
1. People who bought off the plan a few years ago and now have difficulty settling.
2. People who bought at the peak of the amrket and are now quitting their investments.
3. Highly motivated vendors of established properties.

There are…[Read more]

DO you have a trade background? Would you be doing the renos yourselves or would you employ others?

Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.au

Originally posted by tljw1:
Hello everyone, Thomas Wilson here. Currently I am getting a proposal together for a property joint venture. This is the first proposal I have done. I am currently getting information together about medium house prices for the last 15 years. I have noticed many sources are available such as REIA,RESIDEX and ABS. Just…[Read more]

As a new investor you will learn a lot by reading some of the current and many of the old posts on this forum.

Then forget what you learned about in shares because investing in property is VERY DIFFERENT.

Many share investors try to make money trading – this doesn’t work well in property.

As a beginning property investor you need to work out…[Read more]

Originally posted by lifeX:
Michael,
I know you are a reasonable person and have much experience with Real Estate over the years and would like to agree with you that Trusts are still go in Vic. As I have just set up a trust for purchasing property myself. I don’t have a total land component above $900,000 yet myself and I doubt many investors…[Read more]

I don’t have a HIA contract with me at home so I can’t answer about the specific clauses, but will check tommorrow.

But in general….

There is a clause in the standard HIA contract that says that if the you delay the commencement of construction, then there is an escalation in price. Effectively you delayed commencement by not handing over the…[Read more]

There are lots of reasons for putting properties in a trust including asset protection and income splitting, so it not really as simple as you make out.

Most accountants still seem to recommend trusts to our clients.

By the way the new suggestions are not law yet and are likely to be ammended.

Michael Yardney
METROPOLE PROPERTIES
Author of…[Read more]

Originally posted by billyray:

1 – Does the ATO require a licensed quantity surveyor to provide values for depreciation, or can this be done by a lay person, providing they have evidence to back up their values?

2 – Does $750 sound like a good price for this service or have people got it for less?

Yes you do need a QS – a lay person or an…[Read more]

I know the Reno Kings well, I;m proud to consider Paul and Geoff as friends.
Yes, the peole are real and are graduates of their seminars.

When you get to the back of the book Paul and Geoff declare their own portfolio and net worth – something very few authors/speakers do.

Having said that, the results in the book are extraordinary and not…[Read more]

Originally posted by bzl8383:

I have been looking for investment properties in Cranbourne areas, including Cranb. Central, North and West, Lynbook, Hapmton Park. It looks like that the return is not too bad, around 5 – 6%, much better than the average in SE surburb (3 – 4%). Does anybody have any ideas about thest areas or any potentials in the…[Read more]

Estate agents wouldn’t lie to you would they[biggrin] but they may be a little over enthusiastic.

We see this all the time with investors “promised” unrealistic rentals and when the proeprties don’t lease out at that rent, the agent explains how the market is slow at present.

Ask a different agent in the area what the rent would be if you…[Read more]

It depends where your property is and what type of property tenants are looking for.

Over the years we have found that 500sq mt warehouse/offices let out well to substatial tenants. The smaller properties are usually leased by smaller “mum and dad” businesses

Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property…[Read more]

I agree that this is probably not the sort of property an inexperienced renovator should touch.

A tradesman may be able to make something out of this but for a renovator to pay others to repair structural (termite) damage is usually not lucrative.

When you renovate it is better to put your money in cosmetic upgrades -that that look good and make…[Read more]

Originally posted by Mortgage Hunter:
I was reading today that ANZ are now more positive on inner city apartments – they feel the downturn is mostly finished.

Can’t say I agree but it was interesting.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Simon

The ANZ said that inner city…[Read more]