Hi wealthyjvd –

I too am young (22) and have also purcahsed in Frankston, Queen St which sounds like it's in a similar location to your property. I have also commenced a subdivision with intention to build in the back yard (not a corner block), my block is smaller than yours – I'm doing a 3 bed, 2 bath townhouse. I started this process back in…[Read more]

Hi wealthyjvd -I too am young (22) and have also purcahsed in Frankston, Queen St which sounds like it's in a similar location to your property. I have also commenced a subdivision with intention to build in the back yard (not a corner block), my block is smaller than yours – I'm doing a 3 bed, 2 bath townhouse. I started this process back in…[Read more]

Paul – Thanks for the insight mate, I briefly thought of that as a concept but thought it would be rare to come by.

Shape – Cheers for the feedback regarding banks perception on income generated to business towards the loan repayments. After further research it still seems that the biggest hurdle will be a deposit. What is the highest % LVR that…[Read more]

Paul – Thanks for the insight mate, I briefly thought of that as a concept but thought it would be rare to come by.Shape – Cheers for the feedback regarding banks perception on income generated to business towards the loan repayments. After further research it still seems that the biggest hurdle will be a deposit. What is the highest % LVR that…[Read more]

Hi Michael,,

Thanks for all your helpful information! In summary to your comments, it sounds like I should be ok with applying for finance? If the income can pay for all expenses without any $ coming from my pocket, surely the banks would be cool!!

What would be the best way to go about a business loan- use my broker? Contact a bank manager? Can…[Read more]

Hi

I work for Telstra Business, there has been an ‘account verification email from bigpong going round. Steer clear, it looks dodgy as! I have informed all my clients to leave it alone.

Sash

Want It. Own It. Enjoy It. Achieve It.

Hi Nathan,Again massive congratulations on your accomplishments. I am 22 with 2 properties and a DA that is still with council 14 months after the application process was submitted. I am currently negatively geared but have a decent income. The most frustrating thing for me is that the delay has stopped me from accessing equity to purchase more…[Read more]

D Wolfe – Long time no speak! What a motivating/uplifting topic!I plan to:- Finally receive permits back from council. – Complete first reno on front dwelling.- Complete first subdivision/development.- Either buy 2 more properties with equity and replicate or buy a larger site to develop.- Continue progressing in my career at Telstra Business…[Read more]

Hi Guys,Thanks for all the comments. I have only just had the application resubmitted due to massive stuff ups from the vendor that sold it to me, the agent, the conveyancer and the council.Long story short, the vendor moved the fenceline back 3 metres. There is a rear laneway that runs through the back of all the properties on the street. The…[Read more]

Hi Fredo,I bought a standard property and did enjoy some capital gains. I havnen't as such had it value but I have had 5 or 6 appraisals which indicate a good $40k gain or 12%. Yeah there are headaches however when I've finished: sold the front, kept the back, have a brand new positive cashflow property with a rental income of $350 p/w and an LVR…[Read more]

Hi Matt, My project is a pain.  <moderator: delete language> Council, dodgy agents, dodgy conveyancers etc not doing there job properly. Still haven't started building yet because of drainage issues, infrastructure departments being uncooperative. It will come eventually, very unlucky but semi-fortunate in a way this happened on my first project.…[Read more]

Yes the process is taking a fair while as I said due to various things coming up. Outside there andy control- conveyancers and council large mistakes. Yes I believe it’s a fixed price although it may depend on the size and scale of the project. 100% money back guarantee.

Hi kntan,

Yes I am still with PnP. I could not be more impressed with thier professionalism and genuine efforts to help find solutions. I have run into a few problems with council. The managing director has personally taken my project and is negotiating and dealing with council on my behalf, using his skills and reputation. I will tackle…[Read more]

I believe there are 2 answers to your question.1) If it the second dwelling was going to still remain part of the inital property, eg. family to live in then probably not.2) If you wanted to seperate the two properties onto seperate titles to increase value in gaining another property for resale or rental.Hopefully that kind of answers your question.

Hi Guys,Thanks for the comments. As I said all dealings with them so far have been great. I can't complain. I was happy to pay the premium back then as my knowledge was next to nothing. I may not use them again as I could do it cheaper myself. It is however very pleasant knowing that someone else is taking care of it. Any questions are replied t…[Read more]

My current loans are with CBA. If there is something I can do, how would I go about it.  What do I say to my broker etc? Questions to ask…Thankyou very much

Yes my base is still the same. It's the extra commission that I need to ustilise on.

Thanks guys.It makes sense why banks need a decent amount of time/proof for them to feel comfortable to lend money for a project. I just wanted to know if there was any ways in doing it in a shorter time frame.Cheers.Sash

Why not subdivide the back and sell with DA to build a townhouse whilst renovating the front? Your outlay is minimal and your gaining an extra piece of land ready for someone else to buy and build on.You want the most profit from the least risk, effort and stress. You'd be looking at 4-6 months usually for the DA. You can comfortably do a good…[Read more]

Thanks All,Your information is all helpful. I really was trying to dictate for a residential block 600-1000sqm would it be more profitable to:a) subdivide into 2 or 3 seperate lots with DA to build townhouse/sb) demolish existing dwelling, DA to build 2 or 3 townhousesc) demolish units