It sound like you are talking about buying from a “project home builder” – is that correct?

Yes…. you can bargin with them as it is a competitive industry, but in general a builder makes 10 – 15% profit margin.

They are not going to build at a loss, so there are not tens of thousands to play with

Michael Yardney
METROPOLE PROPERTIES
Author of…[Read more]

OK I’ll stick my neck out[blush2]

I have a vested interest which will become clear in a minute.

There is no doubt that some seminars are a waste of money. And of course you could read some of the content in books or find it on the internet.

But there are others where you will definately get value for money and learn from the presenters.

Steve…[Read more]

Originally posted by MiniMogul:
Hi guys

I’m doing my first development this year. I’m planning on making approximately 25-45% equity on completion, and it being cashflow positive from day one.

How do you like my chances?

(hee hee)

I’m taking bets….

cheers-
Mini

HI Mini

I think your ambition is great and I do not want to deter you, but…[Read more]

Originally posted by resiwealth:
Price to build $850.00 per/sq/m

regards Phil

Phil
That may be the price for the shell, but if you were to include driveways, landscaping and all the rest we are finding building costs for a good finish townhouse is $1,050 to $1,100 per sq mt.

Multiply this by the total area including garages.

But there are…[Read more]

I guess he is keeping his options open in case your finance falls through. Someone else may ring him from the board.

Lets hope your finance gets approved quickly

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

Central Equity is a pubically listed reputable company. Unlike others is they commence a development they have the resources to complete it and they will honour their rental guarantees.

Having said that, would buying an apartment in one of their complexes make a good investment?

I think you could find better deals elsewhere.

They had a…[Read more]

She is wrong.

You have the right to on sell the property once you have signed a contract.

But then you are also wrong….

You will need to pay stamp duty.

There have been some creative techniques devised to try and overcome this, but in Vic (the market I know well- having bought 4 properties for clients this week alone) the STate Revenue…[Read more]

Be careful!!

Most banks won’t lend for small apartments less than 5 squares in size

Of course its cheap – no kitchen stear clear

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

I also use Feastudy for most projects. http://www.devfeas.com.au

For complicated projects I sometimes use estatemaster. Its a super duper excell spreadsheet. You can download a trial version at

http://www.estatemaster.net/

It is much more difficult to “drive” than Feastudy, but it is the program most valuers use. If you think Feastudy is expensive…[Read more]

I have just been chairing an industry conference aimed at big property developers and Melb 2030 was amajor point of discussion.

http://www.lawfinance.com.au/CorporateFinance/050221BlueprintMel/index.htm

We are 2 years into this policy and on the whole the big developers were happy with it.

The delay in its implimentation was blamed on the local…[Read more]

There may be a big back yard, but for the council to allow you to put a second dwelling on the site, you need to provide carparking for both dwellings as well as private open space for both. These should have a northerly orientation.

It is unusual for councils to allow a double storey dwelling at the rear.

So it’s not as easy as it…[Read more]

I agree with the previous posts, but corner sites are more efficient as both properties can have street frontages and you may not need to waste space on a driveway down the side of the block to get to the second unit.

First port of call (being a sea side block) is the townplanning department of the local council. They will give you an idea of…[Read more]

Originally posted by vicgirl:
Thanks for the info….unfortunately the site doesn’t work on my PC.

I use the site a lot and it gives you exactly the information you are looking for. You need to pay $5 or something like that for the map.

Try it again, becuase the site is often down or very slow to download. It may be better to try it after hours…[Read more]

Originally posted by Derek:
Hi Michael,

BITE.

Derek
derekjones1@bigpond.com

Property investment advice and researched property in quality locations available.

That didn’t hurt[blush2]

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 Bradles C:
Hi Guys,

Can anyone recommend any good property investing seminars to help further my investing knowledge ?……

I have heard that Steve Navra’s seminars are worth attending. Can anyone recommend his seminars or are there any other seminars in the Melbourne area that would be worth attending ?

Thanks heaps guys…[Read more]

I have been investing in property for over 30 years so I have bought in both the ups and downs.

I have summarised the ups and downs of the property market over the last 20 odd years in the lead article of the current issue of our property e-zine.

For those that don’t subsccribe you can get this issue free at http://www.metropole.com.au and click on…[Read more]

Its the land that appreciates in value and the dwelling slowly depreciates until it adds little to the property value.

I have had great successful for both myself and my clients buying properties at or close to land value. The house is thrown in and brings in some income.If purchased in the right areas, this type of property appreciates better…[Read more]

Originally posted by Ricksta:
Got an interview with Raine and Horne this weekend.

GGood luck with your interview

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

When I was a young lad and impressionable I thought i wanted to be a real estate agent and drive around in a fancy car ( In the 60’s they were driving big American Yank Tanks)

Then I realised that it was the people the estate agent was working for – the property owners- who were the wealthy ones, not the agent.

I have read that the average agent…[Read more]

I know a number of people who had the same idea but it din’t get off the ground.

In fact one client is in litigation over this ecat same thing at present. One of the problems was defining what the profit is.

Unfortunaely in the case of my client each party had different expectations.

What experience have you had? What are you bringing to the…[Read more]