locco wrote:
Hello Property Passion,I am a Builder in Vic, I recommend you go to either the HIA or MBA and do their certificate IV in Building and construction management as outlined by peter. This course will take you 1 yr part time. That certificate is the most simplified and quickest way to get the academic requirements required by the…[Read more]

Peter thankyou for the infomation in regards to the building licence, it has been very helpful. Like you said there is a hic cup in the process and i wont qualify because of my on site experience. I will be building this house and should take some time, that in itself will qualify for on site experience, but what do i do after that ? The one O/B…[Read more]

Will a LOC on the existing property an option ? not sure if it matters but the loan is for a subdivision/construct on the existing property. Also thinking about the tax side of things too, will it have any effect, seeing as though the existing will turn into a rental and the LOC loan will be for the PPOR. How will i distinguish what part…[Read more]

im   in melb and found out that  its 1 every 3 years here, still not sure about the 2nd question.

Any idea how much MAX i should be able to borrow ?

combined income 70k Net per year rental income 5200 per year. PPOR Value 370k debt 100k Investment house 175k Debt 150k

The USP will be that my fish and chips are healthy ! I will be using vegetable oil and will be offeringa grilled alternative to any fish i fry. I also have a Fresh Fish shop over the rd so my fish will be fresh, and will make sure that i am not going to be using any frozen fish AT ALL !

I will be putting in an oyster bar and hopefully have room…[Read more]

Planning on getting all the systems correct so that i can walk away and not have to worry about the shop. Not that im going to be too far as my current business is just over the rd.

WC i hear you, i know what your saying. I am currently at the council to build a unit behind my PPOR and has taken a hell of a long time to do this, all of a sudden…[Read more]

I am in the the seafood industry, both retail and wholesale. I have a shp and am extending my business into fish and chips in the near future.

later down the track i hope to be a full time property developer, but first i need to get cashflow! [biggrin]

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

Aspiring property…[Read more]

raise the rent !!
thats my two cents. [biggrin]

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

Aspiring property developer

Giulio Taranto

Thanks for your reply pete, i have been told that i can go to the land and enviornment court but i dont think i want to go down that path, i think what im going to do is just ride out the storm.

I tell you what, its a disgrace the way they can do this to people. it has been a huge eye opener for my wife and I .

“It’s not how much money you…[Read more]

if it was me id be buying a property with big enough land to subdivide and live in the front double story house while building a unit behind it, not sure if you can find the oppotunity in the areas you mentioned but i know thats the path i would take.

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

Aspiring property…[Read more]

fair enough, Is there anything i should look out for when buying a prop for shared accomodation ?

can i put people on a lease? Will a property manager charge anymore to manage a property like this?

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

Aspiring property developer

Giulio Taranto

if he isn’t living in it how does he claim it as his PPOR ? I dont get it [blush2]

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

Aspiring property developer

Giulio Taranto

its obvous that this is what you want to do, i think that like you said, you need to prepare yourself. Just go for it and see what happens. I get the feeling your going to surprise yourself [biggrin]

Good Luck and i hope you get the best possible price !

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

Aspiring property…[Read more]

i think that a combination of a tall fence and some large fast growing trees would be you best solution.

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

Aspiring property developer

Giulio Taranto

hey here, id like to add that you want to enjoy yourself too, my first buy was at 19. You need to remember that there is a life to live also so it might be an idea to save 70% of your income and spend the other 30%. Remeber to have fun on your journey to wealth. Im not saying this to discourage you, just to make you aware that there is more to…[Read more]

great read, i can relate to a lot of these stories.

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

Aspiring property developer

Giulio Taranto

i have never used this site but people keep talking about it, i might have to check it out myself

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

Aspiring property developer

Giulio Taranto

Hey Ozi,

been following your story for a while now, and to answer your question i think that you have gone about the negotiation very well, and yes its time to take the iron out of the fire.
The clause is an interesting touch, not sure if the agent will go for it, it has no benifit to him [confused2]. Hopefully you told the vendor that its upto…[Read more]