Depends on what you are trying to achieve. It is usually better to hold a place particularly if you have added value – BUT, can you afford to hold it, most places in the current market could well end up negative geared. In this instance you need to work out what your loss per year would be and then
1) Can you afford that amount from your own…[Read more]

Another thought on CC, if you have one property goes up and other stays same, by having them seperate you do not have to pay for both to be revalued, 2 x stamp duties etc.

Also if one property has increased a lot but the other may have actually gone down you can just revalue the UP one and leave other as is, whereas if you had to revalue they…[Read more]

I agree with a lot of the posts on here – mostly people are jealous and sometimes it does appear to be easier just to avoid them but I think if you spend most of your time with other positive people who have done well then your own attitude changes and hopefully you can at least accept the other person more.
Not that I have got there yet.
My ex is…[Read more]

HI, I just use Microsoft Money but you could use Quicken or Myob. Also try Jan Somers or Dolf De Roos websites, they both do specific property software.

Cheers[biggrin]

I would also be interested in the meetings but have obviously missed Jan 10th, could you let me know when the next one is please

Cheers

First decide how active you want to be, read some books on different strategies.

Do you want to just buy/create cash flow positive or do you want to be actively involved long term (ie building, renovating) or maybe a bit of both.

once you have decided on your strategy, the best way to go would be to find a joint venture partner who has…[Read more]

Hi Ben

I have done this in Adelaide and you should allow 15K to subdivide 1 into 2 if community title and 18K if torrens title. You then add 7K per extra block.

This will cover all fees and the expense of water, sewer etc to be split and moved. Check on Stobbie poles as this can add ontop of that and also make sure no Telstra box in footpath…[Read more]

Hi

Also from Adelaide, got one IP in QLD, have just reno’d our PPOR as an investment, subdivided a block and just about to start another reno – (to sell). Would love to keep some but not finding a lot of positive around, theory is to do reno and/or subdivide, gain more equity and keep knowledge and skills growing for when good bargains to…[Read more]

Thanks everyone for the input, I believe I need to do a lot more research before I am ready for this step but you have all helped in the learning curve.

Cheers

Would it be possible to turn into a bed and breakfast or a boutique hotel maybe – would need to check council guidelines.

Need to know more about where it is located – compared to transport, shops etc. also actual square meterage of house and what council rules are. Once you know all that I am sure there are plenty of people on here who can…[Read more]

Hi all, great thread

My partner and I are also looking at going this route but so far have not had much luck with getting land at right price – nearly had one but it got away.

Any info on figures and or what to look for to find the right sites would be greatly appreciated.

Cheers

I struggled to buy a property as a single mum in UK, a council house (ie housing trust). My father lent me the deposit and after a couple of years I started paying extra off, got married had a couple more kids and extended house.

Unfortunately I did not know much about property so with only 7K (pounds) mortgage, sold it and bought in country.…[Read more]

How is it currently rented, to one tenant? Have you thought of student accommodation, maybe you could add some value that would more than cover your costs. Hard to say more without knowing more, but if you can find a way round it, then keep it. Is it interest only?

Thanks everyone – thought it maybe a little skinny but we went in with the thought that we did not think it possible to lose money and if we did not make very much then at least we had the knowledge for next time.

After all knowledge and action get results in the end.

Thanks everyone, the plan before this happened was to be in a position to leave work within a year to work in property. We have knowledge to be able to do buy and subdivide and also our own reno work if there was nothing out there with enough room to pay people and we were about to start this build. Pretty sure we were right about figures – had…[Read more]

It depends where you are (state) and if you are going to Torrens title or community title.

In SA Torrens 1 into 2 is about 18000 and community about 15000. In both cases add 7K per extra block.

Approx costs only – make sure you also do your won research, ie ring council

Yes I had planned to use Margin scheme about 7K per house.

Insurance is included in costs, so are council and legel fees. 10K allocated to footings was per house over and above basic footings in builders costs.

Is order OK?

Do sums add up to anyone who has done this before or is it too skinny?

Cheers

Hi G7

Did your mum aquire property during her course – how successful was she and why is there a need to do it again.

Surely if you have learnt the information and made the contacts there should be no need to repeat but just go on buying etc.?

The reason I ask is that I too also have considered this course but have not been able to find out…[Read more]

HI

I too take my hat off to Steve. I am sure he has heaps to occupy his time but he cares enough to do this.

I am really hoping to get accepted and am looking forward to
the networking with like minded people,
mentoring and being made accountable,
general knowledge about property,
the chance to change for the better.

hope to be part of the journey

Can’t say I agree about Anzac Highway, too busy with too many cheap small units. The areas around it though are worth a look.

One of the suburbs I believe will be up and coming for capital growth is Blair Athol, this is an old trust and war area, with basic 50’s houses. People have just started to rip them down or renovate but the area is…[Read more]