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    Hi NicoleK,  I like all of your idea's.

    Option 1) You need to consider cashflow/finance/ tax implications if you are to develop.  I think it will have excellent Cap Growth.
    Option 2) you can purchase a ready made product with minimum effort
    Option 3) I haven't researched – You need to be aware that when mining finishes you may be left with a product that no-one wants so it may be a good idea considering you don't want to hold forever anyway
    Linda

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    Interesting link -thanks for sharing. 

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    Definitely, the laws have changed in Qld and are changing in WA to be more energy efficient.  In WA it will cost approx $10,000 more per house to build – and first homebuyers will be emempt.  I think that is rediculous as it will keep them poor with the extra costs of heating and cooling.  I'm not sure about other states but you may find there is minimum laws in place already.  I think the cheapest and most effective way is to chose a block with a good orientation and have eaves and insulation.  There is free publications about building energy effecient houses from govt departments.  Linda

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    I agree with posts above.  When I was about 23 my sister said to me, "Why don't you spoil yourself.  Sell your unit, buy yourself some diamond and gold jewelery like me."  Since then she has gotten tired of the jewelery.  She's hocked in all her jewelery for 10% of its value.  ie got $50 ea for her $500 items.  Now she's married, living in a tiny house with cement floors (no floor coverings) with a young baby, paying off about 3 cars on a single wage, 2 cars are off the road.  I would hate to be where my sister is now and that is why I worked hard, saved, and invest.  I think you are heading in right direction devo76 by investing in assets young.  Go for it – enjoy your life, as long as you save as well as spend.  Once you have a few assets they will compound and work for you.

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    Speaking of Perth – there's no posts so far.  Around Bassendean/Morley area a lot of properties are still selling quickly.   Less attractive streets in Eden Hill aren't moving.  Eden Hill had outstanding growth in previous 12 months so I think it has become overpriced compared to surrounding suburbs that are continuing to move.  

    Comparing Bris and Melb to Perth (I haven't looked in other states), SOME AREAS in Perth are looking like good value again.   Cheers, Linda

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    My husband and I were just discussing this tonight.  Through my property and my husbands share portfolio we were able to be mortgage free by 23 & 26.  Having no mortgage was a fantastic feeling.  I worked and saved money from 13 years old and when I was 21 I had a full and part-time job and a mortgage.  I took 6 months off work when I was 24.  After that we saved my husbands income and lived off mine.  At 25 I had kids and haven't worked since.  We've bought a few rental properties which we'll hold.  I'm happy with a ten year old ford fairmont.  We're living in our dream home with a small mortgage.  My husband will be able to retire on an ave income in ten years (age 47).  My kids are 5 & 8.  I think NOW is definitely the time for us.  But the most important thing to me is time, not accesories.  I'm happy with second-hand furniture etc. and cheap holidays, i'm used to it.  I would love a cleaner and cook though and for my husband to be able to work part-time or retire.  Linda

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    Hi Carpe, I wouldn't sell your fantastic growth asset.  I'm in a similar position and my bank suggested I should sell some off the plan.  I did some spreadsheets and worked out if I sold 5/8 townhouses they would pay for all of my building costs and remaining mortgage on block.  I'd then be left with 3 that I'd own outright.  I'd suggest doing some spreadsheets and talk to some banks to start off with.  I'm not planning on building for a couple of years so I haven't researched all of my options.  Ron Forlee has 2 books about developing, they may help you consider your options.  If you decide to develop let me know how you go.  Good Luck!  Linda

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    No. 14 is my favourite.  Being at the end of the culdesac their is less traffic.  Furtherest from freeway.  I would like knowing that the blocks behind No. 14 will be developed into housing also, and not a school, shopping centre, units.   It has a decent frontage and spacious backyard.

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    Is mowing an issue?  Do you need to provide a ride-on, or mowing included in rent?  Thanks

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    SK2 – Is it difficult to find a tenant prepared to look after 1/2 an acre?  Thanks 

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    I agree with above posts.  Even if you are covered by insurance the risk of a bad tenant is not worth the hassle, stress and could end up costing you more than having the property vacant.  My first tenants where similar to your applicants though had no kids.  The male lost his licence, they used to rent an appartment that belonged to his mother, the dogs he described as little fluffy dogs were staffyx boxers.  They had excellent work history and references.  They ended up being compulsive liers and took us to court (along with many lies).  We had to prepare statements and evidence. – Now I'm really strict and if their application isn't squeky clean, I don't even bother investigating them.  I'd check your agents advertising to make sure they are making your property attractive to tenants, and your property stands out.

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    Thanks Terry…….another thing to consider along with all the other taxes….Are you still doing a newletter?  I haven't received one for a while.  Thanks.

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    I think Adelaide is looking good too.

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    devo76 – My opinion is Qld/Vic is halfway through a boom and NSW will be next.  Just a WA perspective.  Do you know of any good properties for sale in NSW – Good location, 10 yrs old or older newly renovated.  Linda

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    If you put all of your properties in your husbands name because he's the highest income earner, what would happen at retirement when all the assets/income are in the husbands name?  Is it better to purchase 99% hubby, 1% wife – then in retirement change % to 50/50?  Would you have to pay stamp duty and capital games tax on the 49% that your transferring to wife? 

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    alap – Sorry, got lazy.  As long as possible, and Asap also.

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    Excellent info – thanks.

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    Members Equity have 7.44 fixed for 5 years with no fees.  I'd be fixing for alap.

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    I had a quick look at Jimboomba and prices seem really reasonable still.  An old friend of mine moved from Sydney and  bought  5 acres there about 15 years ago.  Is there heaps of land around Jimboomba?  I remember 10 yrs ago thinking Mt Tamborine was really cheap and pretty.  Is it still really affordable? 

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    Crashy – do you know if you can do above over previously painted bricks?

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