You are correct that Victoria university is near by, but that means students as tenants.
Do you want to confine yourself to one demographic group.

While Footscary is near town it hasn’t had the best history for capital growth.

It would not be my first choice of area. We have identified a number of suburbs with potentially high growth over the…[Read more]

There are a number of people who can help.

The council town planning officer can give you some general information and this would be at no cost.

An architect who understands the local council’s policy could assist, so could a town planner.

I would start with the council and then see a private town planner if you are unsure

Michael…[Read more]

ispoh

Interesting that you chose Footscray, if you don’t knowe about the vacancy rates or growth?

What are you looking for in an investment? Capital growth, yield etc?

That may help us give you answers to your needs.

In the meantime check out http://propertydata.reiv.com.au/trendchart/ to find growth rates.

Michael Yardney
METROPOLE…[Read more]

Originally posted by hb:
hi michael
just reading your post again
“you’ve bought 4 properties in the last 6 months in melbourne”
gutsy stuff
Did you do you figures?

where you expecting the market to pick up quickly?

i only ask because that probably wouldn’t have been my strategy…..

why?

well 4 properties at melb median price (360k) =…[Read more]

Brunswick should perform better than Coburg which still has some “stigma” attached to it.

Of course not all properties in thos esuburbs will do well, but I know from our property management department that apartments in Brunswick rent well and rents are increasing

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

Originally posted by Sweet:
Yeh cheers ill look it up

I heard Frankston is going to be the big winner in 2006? What do u think?

You would be better off buying an apartment in St Kida than a house in Frankston.

Frankston has had its run and their is little to push property values up in the near future. The Marina and the new freeway have…[Read more]

Originally posted by hb:
the 64million dollar question???????

ask any guru and you get completely different answers….

MichaelYardney says….
Our research shows that markets have bottomed in Sydney, Melbourne and Brisbane (this doesn’t mean we in the next boom yet!)

I am actively buying for myself – have for 6 months- and very strongly for…[Read more]

If you are buying your investment for long term return, there is no evidence that an apartment in a block of 10 would recieve a lower rental or worse capital growth than in a block of 4.

Sure there is some “exclusivity” in a small block of apartments, and large blocks would put off some buyers and tenants.

What is the cut off mark ? 4 or 6 or 8…[Read more]

Speak to the council town planning officer to see if the council allows you to subdivide the land and what conditions, if any, they would place on this.

Speak witha surveyor. You will need one to produce a new plan of subdivision and lodge it with council. he should give you an idea of how long the process should take.

You can definatley…[Read more]

Do you have your plans and permits yet?

If you do, I know a builder based in the western suburbs who does a great job. He has done a number of projects for us and just finished a 3 unit project for a client of ours in Japan, so Sydney is easy.
Send me a private message or an email myardney@metropole.com.au and I will give you his details

Michael…[Read more]

Originally posted by Property Passion:
what are the stap duty implications with using the nomanie clause when buying a property ?

“It’s not how much money you make, It’s how you spend it that matters.”

Aspiring property developer

Giulio Taranto

If the trust has not been set up (or you did not have the intention to set it up) prior to the…[Read more]

Hi Psychiatrist

It’s geat that you “want to learn” this a great foru to learn from.

May I suggest one of the things I have learned from successful proeprty investors:

Don’t expect to do everything yourself.

Sure you may savea few (tax deductible) dollars a week managing your own property, but I would strongly recommend you get a proficient…[Read more]

You can purchase this data form Residex http://www.residex.com.au or RP Data http://www.rpdata.com.au

http://www.domain.com.au give recent sale prices for some houses

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

Interestingly I met a developer today, in his 60’s and been doing it for 30 years.

Has renovated about 30 block of flats over the years. Sold all of them, never kept one.

Always wanted the “cash” to do another project and to live off.

His last project was in 2004, when he lost “a bit of money”

He is finding it difficult at present to find a…[Read more]

Its very difficult to make money out of renovations if you intent to sell your property, but there is lots of money to be made if you buy, renovate and refinance.
We’ve been involved in 8 of these in the last 6 months and they work ” gangbusters”.

Have a look at this…[Read more]

To give you a sensible answer, we need a little more info.

How much is the property worth and is it in a high capital growth area.

Also how much is this cash flow drain putting a strain on you?

Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription…[Read more]

Congratulations, you have done well, increasing your property’s value by 60% or so in 2 years.

That’s the power of property development.

Why sell?

If you can afford to do it and the project is feasible, proceed with the development and retain all the units (if you can) as a long term invetsor.

I understand it’s hard to do from a distance but…[Read more]

John

You are correct that there is an increasing supply of ingle occupants, but:
1. There is still an oversupply in Southbank with about 2,000 new unsold apartments being completed before the end of this year.

2. Single occupants still like space and many are going for a 2 bedroom apartment. If you can afford one, you will get more bang for your…[Read more]

Originally posted by asdf:
Hi Michael, thanks for your reply. Appreciate your comments seeing you’re probably one of the very few in this forum who has seen AND been involved in a few cycles in Oz. I gather buying pre-cycle boom and buy under market value is a strategy which you employ. And something which you can add value. Easier said than donw…[Read more]

Originally posted by fernfurn:
Michael Yarney Yes I do realise the buying cycle as well and “know thyself” I’m not a buy & hold forever person, I like the action of developing. Having said that I would be prepared to hold for 12mths, but if there is no movement in the market my costs would negate any minor gains
With the buy well cycle though…[Read more]