Hi Kirsty,

could you do any cheap reno's to the properties to increase your rental return/sale price?
Fresh coat of paint, install air con's, etc?

Cheers,

Ross

Sorry last line should read:

Do you have any more power of recourse if it is done by a lawyer or would you still need the title insurance anyway?

Hi Terry,

excuse my ignorance but,

I thought that was the purpose of a conveyancer?
To manage the transaction, do all the necessary searches and ensure that you have the title registered in your name or trust and ensure all debts through the vendor are cleared before passing on any funds to them?

I thought it was unnecessary to utilize the…[Read more]

Hi JacM,

It is a 2 bedroom rendered brick cottage on 1000sqm block.
I'm also purchasing 1000sqm vacant land as well.

What sort insurance would I need for the vacant land, just public liability?

Cheers,

Ross

Hi D,

thanks for the advice.

The property is to be constructed in Pakenham, Victoria
My share of the units will be purchased through my discretionary trust.

Are the units in unit trust a predesignated value? or can you name the value on them?
If so would it be best to call one unit $1?

Thanks,

Ross

Hi D,

the property was built in the 1940's.
Had a bathroom upgrade in the 1970's and the stone cottage was rendered around the same time.
The external laundry and toilet were built into the back of the house.

Needs a full reno and possibly a rewire as well.
Needs new fences and a good garden clean out as well. Although most of this could be done…[Read more]

After re reading the Whyalla town plan, I think it will be easiest to build a single level 3/2/2 house and renovate the original property.

Always good to get advice from people that are experienced in the field.

Thanks all

Thanks Kevin,

I had already looked over the development plan after Mattnz original comments.
The property I am looking at is zoned residential.
But I actually picked up a few things I missed on the first read through.
So thanks for the post.

Ross

Thanks everyone for the comments,

I think I will probably follow Mattnz advice,
I will build a second dwelling on the 1000sqm block.
Renovate the original dwelling.

Spoke to the agent, re – value of new dwelling and reno'd old dwelling.

New dwelling on approx 500sqm  low 300's

Original dwelling on approx 500sqm high 200's

Purchase price…[Read more]

Hi guys.  
Thanks for the feed back. 
I am looking at doing this project in whyalla SA. 
I don't seem to be able to find a town planner there though. 

Can anyone recommend a good architect in the whyalla area? 

Cheers

Ross. 

Hi Richard,

when are you back at work?
would like to give you a call and discuss my plans and options

Thanks,

Ross

Hi Richard,

I have my current property with westpac and have a good relationship with them.
I have spoken to them about using a DT for my future investments and they are fine with that, they will lend to the same LVR as long as I guarantee the loans.
Would westpac do this project for me as a straight forward package?
Or will they require a lot…[Read more]

Thanks, Matt and Scott.

that info helps heaps.
Will follow up a town planner asap and go from there.
The building is approx. $100k below the rest of the market as it requires a fair amount of work.
I would not imagine the costs involved in bringing the property up to the rest of the market would be half of the potential return.
Would it be better…[Read more]