Jhopper

This will depend on a lot of things , council ,size of the block, how many subs on the block ,has the block got access on another street.
Lets say it is a normal block with one driveway and no other access . Yes in most situations if you meet the council requirements you can just sub divide and sell. Providing all the services are accessable from the street or easements.How ever the best way to find out about it before buying the property is to go to the council with the contract and ask them about that particular property 9 times out of ten they will be able to tell you on the spot if what you want to do is achiveable .

Cheers Rick [drummer]

Jenny I agree and thanks for the tip on the reno kings book , I have bought it since I read one of your posts

Cheers Rick[drummer]

Looks like I got to this one a little late , but anytime anyone wants to catch up for a chat , I’m interested . Love to chat to people with common interests[drummer]

Just do it the hardest part about investing is your first deal. As for were any were you feel comfortable . Just do some home work .

Good Luck

Cheers Rick [drummer]

Resiwealth you might find that sansue6 property might be a bit far away he is from the USA so it might be a bit hard to check out. Also I think you were a little hard on him there is every chance that he is telling the truth . He may just want peoples thoughts . I know that I always ask for peoples input weather they no any thing about the deal or not . You can never have to much info

Cheers Rick[drummer]

Davcaz

Go and do it the longer you wait time will pass quick and it takes time to get there . Steves book is the best that I have read on investing in property , only beacause I like to turn property over as soon as i realize that in the current market for that property there is nothing else I can do to it (with in reason) to make more money on it. So there for I sell it and re invest some were else that I think has got potential to make money.
But if you have only read Steves book, go read one of Jan somers books this is for more of an investor that likes the sit relax wait, but keep buying property. It is a very good tactic that will give good results. Also anther book that was writen thousands of years ago in stone , but re published in recent time it is called The Richest Man In Babylon this book will teach you how to save money so that you never have to be a slave to money I recon that every body should read this book if they have ever been in a situation were money has been a problem to them . This book is briliant and I try to live by its rule so to speak . Another book is Rich Dad Poor Dad this is a good book how ever very few people that read it could achive the sort of wealth he talks about . But there are some good points.

Good Luck

Cheers Rick[drummer]

Better Biz & Sansue6

For starter better biz I would never project bigger profits than what the current market is telling me. For example I built 5 town houses in melbourne a few years ago while prises were still rizeing , b4 I started the project I estimated the current market would pull $200,000 per town house. (total $1,000,000). My estimated cost at the time for the total of project was $800,000 this included interest witch if useing private investors you would not have to pay. Or maybe only part pay if using 50% private investor and 50% bank . Total lengh of project 2 years . The first 1st year for plans and permits the 2nd year to build. I put the deposit for the property down made the interest payment over the 1st year also paid for permits . $175,000 property(including stamps etc) $20,000 for drawing and permits. My own money in was . $32,500 deposit for house and $20,000 for drawings and permits.And $11,000 interest on the first year (total of $63,500).So far project owes me $206,500 . Second year find investors to invest with me for the remainder of project 1 year .I got prices to build $480,000. To subdivide , pay dispusements ,council bull<edited> , connections , solisitors , fences gardens etc $70,000.so I needed $550,000 + interest on the original loan for the 2nd year ($11,000 witch I would pay myself along the way) . I found an investor that would give me $550,000 but wanted $650,000 back a total of 19% approx . So total project costs after paying for everything investor, bank, builder, estate agent, etc was a total of $895,000. By the time the project was finished they sold for a total of $1,150,000. up by 150k on original figures due to growth. So concluetion Private investor made 100k profit in 1 year plus got his 550k that he invested with me. I made 255k profit in 2 years plus got my 75k that I invested . Everbodys happy. But every project is different and different risks different amounts of time will require different returns to make it worth while.

Hope this gives you an idea of what could happen when dealing with private investors.

Cheers Rick[drummer]

Hi Jenny

I have had sim experiences . Vendors do not like people 2 do renos to the property B4 settlement in most situations, unless you get it as one of the conditions of sale. Or if you are willing to pay rent it may be possible . Some vendors are also worried that some thing might go wrong and they are left with a house that has been guttered.one way to intice them is to offer them say a 20% deposit with access to the money instantly or higher than normal rent or both. Be careful with renovating to sell straight away your tax rate could be as high as 48.5% and the taxation office could see you as a business and could make you pay GST. Talk to your accontant before purchase or if you have already purchased talk to them B4 you sell . Good luck

Cheer Rick [drummer]