Forum Replies Created
Thanks a lot Jaidee, your advice has been very helpful.
With regard to the area i want to buy in, im confused whether to buy in area that i live in (Sydney West) with not so high capital returns compared to something nearer the city which shows better capital returns. Im trying to outweigh the risks. Something nearer to where i live would mean i know the suburb and its demand with uncertainties of capital growth in the future, whereas something closer the city means i would potentially gain better capital gains but not know the area that well and may not be able to supervise as much.
Im hoping to go into a joint venture with my dad (who lives overseas but willing to invest in Australia!) and even more ironically, willing to trust his inexperienced daughter :0)
So i would not need to borrow too much.
For this reason, i am looking for someone to partner with who has the experience and skills required. Being the first development as you rightly said, i want to learn as much as i can and not so concerned about making a huge profit.My other concern was that im working in the Nutrition industry full time and i cannot afford to give up my job at the moment, has property development taken up a lot of your time or have you managed to do it on the side of your main job?
Once again, thank you!
Mubz
Hi SydneyBoy,
I am interested in discussing this with you further.
Have you done a feasibility study on the land and are there any DA's in place.
What suburb of Sydney are you looking at?Please contact me at [email protected] to discuss the same.
Regards,
Mubz
Hi Jaidee,
I know of a good accountant but he generally specializes in tax so im thinking thats no good to you.
Sorry to answer a question with a question but i was wondering whether it was easy getting into duplex developments and how you managed to find the right development site.
I am 23 and looking into developing 2 townhouses but thats just about all i know! I have started a homestudy course but all my friends are telling me its the wrong time to develop and that the development market is very cut throat.
Would you be able to share some insight into how you got into it and whether it has been working for you.
I would greatly appreciate it as im so confused!!!Thanks,
MubzHi Dan,
I am also a keen on getting into the development market and have had the same queries that you have.
I recently enrolled on a Property Development Homestudy Course and its very useful. It takes you through all the basics of property development.I understand the safest ones are either duplexes or townhouses and they're relatively low risk. I have also been advised to find sites that have a DA as they're slightly easier to get started.
Hope this helps.
Mubz
Hi,
I've also been looking at buying in the area, it seems really good and with the new Commonwealth Bank coming up soon creating jobs, i think there be demand for rentals if you decide to rent out later.
However, you may want to check on the strata as in the past weeks its gone up by $500 because of a new gym they've recently put in.
Are you looking a 1 or 2 bed? Is the price reasonable?
