Thanks Jamie. I enjoy looking at the stats.

Cheers
Oscar

We need to the know zonings. So the name of the relevant council will help here.

Oscar

Yep. Their 3 year fixed rate looks attractive now – 4.99%

Cheers
Oscar

Interesting. I have never had any dramas with the odd claim here and there but that's been with loss of rent. Best you look at your policy booklet to see what "Contens"means.

Oscar

Hemi

It's generally based on the valuation of the said property once the planning permit has been issued.

Oscar

Hi Ravi,

Have you considered developing? You can outsource many steps of the process.

In terms of rental yield, if done properly, you will get a higher yield as your cost of each dwelling will be less than buying it outright. Also no stamp duty.

Food for thought.

Oscar

Hemi

Each Council has the power to determine what % they charge. E.g. Brimbank 2%, Darebin 3%. Best you call the council and ask to speak to someone in the subdivisions or building department. If not then Planning. Someone will be able to tell you.

Just bear in mind developing up to 2 dwellings has ZERO open space levy.

Cheers
Oscar

Johann, I agreed with you while reading your post up until that last line….Won't happen. Happened in the 80's, reversed it and it won't happen again.

Oscar

Joe, you need to do this formally by requesting a PIC. This you need before your plumber can start and it will have the contributions listed. It's the only way.

I would allow $4,000 for contributions. You may get some change out of this. Your plumber will then do the work – cheaper.

Oscar

I'm glad someone thinks i'm clever

Cheers
Oscar

Not many get the concept, Daniel. It's quite surprising. I hear this every now and then " I better not pay the loan off or else i will be paying tax".

Oscar

I better get on board too…..Mark…..Maaaarrrkkkkkk!!

Fair enough. Must be me – i cringe when i need to go to that area or even when i drive through it!

You're right the area went nuts there for a while. Prices have come back a fair bit. I still think there are better areas if you are just buying and holding, especially in this low growth environment.

Cheers Oscar

Ain't that the truth!!

Cheers
Oscar

Odd choice of suburbs. Dealing with tenants for the last 3 on that list would be a challenge.

Oscar

Thanks Joe.

3 bedroom dwellings must have 2 car spaces where as 2 bedroom dwellings need only the one. This makes a big difference and in this case would have meant only 2 units on the block rather than 3. I found this to be the highest and best use of the site.

Cheers
Oscar

The rain has been a nuisance lately. You can see that the roof truss is all up now, the windows are in and the fascia and gutter is well underway. By this time next week the roof tiles should be there along with all fascia and gutters (including the box gutter between Units 1 & 2 – always a bit fiddly). Once the roof tiles are in at least the…[Read more]

Time for a new one Joe!

Oscar

Shannon

At that price point some suburbs that come to mind are Lalor,Thomastown, Albion/Sunshine, Epping, Croydon. Have a look at these.

Good luck!

Oscar

Joey, a quick call to one of the brokers on this forum will be the way to go. Don't worry about meeting face to face. I have used brokers and have not met them in person. No big deal.

Oscar