I’m not sure about the ACT but the minimum requirement in NSW is the licence which requires completion of the certificate IV. Probably best completed thru tafe in conjunction with work experience @ an agency.

There are also costs involved in getting the property strata titled. You will need to get a strata plan drawn up by the surveyor, assign unit entitlements etc and submit a development application to subdivide the property into strata lots. this then raises the issue of compliance with building regulations. You will be required to make the property meet the current building code not the code from when the property was built eg 1977 – this may require the installation of fire doors to every unit, smoke alarms connected  back to the fire indicator panel, hydrant or hose reels, exit lighting, ewis or non-fire issues like compliant handrails & balustrades.

Never discount that idea Beadie – the unknown is a powerful tool in the negotiation process when buying. If the vendor & agent are not fully acquainted with a proposal (and you are prepared for a long term hold, until there is certainty and the infrastructure is declared or built), then you are in the driver's seat.

Eg: if the property is on a main road (depressed price anyway) and there is a new road tunnel to be built under/near the property which will remove traffic from the road (just like the M2 at Epping or houses affected by the Lane Cove Tunnel). They were resumed for a 'fair price' but have resold at very good prices due to the certainty that the infrastructure has delivered (and the visibility that they are near whatever road).

I have a block that sits adjoining a rail corridor – the proposal sits about 30-40 m below the street surface – who knows the impact? But negotiating the deal when I had more information than the vendor/agent made it a breeze to pick up an easy X0%.

Have you considered 'by the hour'? There are some uses which can dictate this esp if you are near a transport hub & there may be a shortage of accommodation but some regulars?

Selling allows you to realise your profit however the exit & reentry costs really hammer your returns. You may be best served by holding on to this one & ploughing you money back into your offset account for use elsewhere later on.

Hi Alan, sad to see the demise of your old website.

As the property isn't strictly speaking residential, you may well be able to transfer it across (you may need input from a SMSF specialist – I'm not sure if you need to satisfy any particular requirements to prove that the property is not residential eg track record or whether it is just the 'arms length transaction).

SNM

Provided the material is in good condition, there shouldn’t be an issue.

An asbestos register lists the locations, types & conditions of the material.

that is always a risk with a dyi sale. Either a lower price, longer time on market, more interest paid or all of the above.

There is a Melbourne agent who sells for a fixed commission/flat fee of about $6k which is comparable to the diy listers.

I’m with Linar, OTEN is running a property investors course. This one definitely has no agendas although you may want to become a real estate agent or valuer afterwards.