Thanks Breece and Christian , As far as I can see there is no heritage overlay and it is a Z3 according to the town planning website. There are amazingly no trees either , there is an easement that runs at the very back at the property but this could be worked around. The front property is in very good condition and would just need a new k…[Read more]

Hi Matt, I have checked my settings and they allow PMs , not that I have any clue how to send one Yikes !

You are wonderful Tracey, thank you. I will have a read

Thanks Tracey , Again that I am not sure of , this is all a major leraning curve for me and yep baptisim by fire LOL !!What do you factor the GST on for interest sake ? In the event of sounding completley stupid Margin Scheme ?? I am sure I will cover all of this in the course but as I said I have only just started it and was not prepared for this…[Read more]

mmmm, Yes It does add alot of risk doesn't it. I can not thank you enough for your help, this alone has tought me what to look for. I think Hubby is being very conservative as he says as I can not see it taking 2 years but you never know do you. Our plan was to sell off the plan but again you are not going to cash up until it built in the end are…[Read more]

Hubby is the figures man and he cam up with the following, what are we missing if anything? Are there other amounts to be taken into consideration ?  Matt you seem very right , really does not seem worth it and if the agent is overestimating the sale value it will be even lower. House and Land                $  530,000 Stamp Duty     …[Read more]

I have been asked to keep the location on the downlow for my friend who is the agent. He only has a 2 day option to sell it as the Vendor has an arrangement with another agent and he is afraid of getting issue with them, all a bit messy.Its in the outer east of Victoria, a well located suburb with growth potental and near train stations and…[Read more]

Thanks Heaps Matt, Well turns out we have more cash than I thought ,m hubby controls the finances . and we have Equity in our home also. If we are going to use this as a learner , would it still be viable considering the plans and permits are all done, the house is currently tennanted also.Sorry for all the questions. Sim

Thanks Heaps Matt and Richard, Do you think you could explain how you come to the figures you need ?? Just so I can get me head round it all, I had a gut feel this was too big for our first go at it to begin with without having more cash behind us. I was also thinking about the demo costs involved.. I think we are better to start from scratch,…[Read more]

Thanks  MattnzLand size is 960sqm2 stories total 422sqmEach unit cost will be Build Just some details plans, permits. Total build cost per unit should be between 180k and 185k. Total cost per site inc stamps is around 140k. Plus 35k in working plans and open space charge. Resales for the 2 bedders is around 380 – 390k and the 3 bedder  420 – 4…[Read more]

LOL, Its too late at night for me to fully understand what you just said.Although I would not like to admit it I think I was emotionally involved on the idea of the development not so much the actual financial situation "right now".I have not read Steves Book yet although I have had it for quite some time, I am planning on making it a priority .I…[Read more]

Thanks Matthew, I think at this stage hubby has gone cold on this property, it was mainly due to the fact it was next door to my mothers property and that we would hope to develop in the future (long term). I think we may be better finding cheaper options at this stage and give it a miss for some more short term gains ?? We are such newbies at…[Read more]

Just got a call from the agent and they have dropped the price again down from $390.000 to $367,000 now $359,500. The Vendor has not purchased yet and it seems like he wants to sell. We would need to renovate the property as mentioned in my previous post, would you get an inspection done ? The gutters would need replacing and the roof resto…[Read more]

great advice Jamie thank you

I sacked mine recently and it was as simple as telling my new Agent to arrange it , and she did

Hi Everyone, I have made some enquires with the local town planner and they see no reason we could not build 4 townhouses on the block, just having a look at Steves suggestions of buying ugly this gives me a little hope even if we decide not to subdivide we could renovate and still hopefully make some money back, the house has been on the market…[Read more]

Thanks Derek, Yes I have considered that mum may not move on until she is either in a nursing home or falls off her perch( God forbid ) so I know this will be a very long term investment, I suppose I like the value of being able to have eyes and ears about the place so to speak and that the propety itself is a low price for the area. I dont think…[Read more]

Thanks,  I will speak to the town planner and see what info I get, I know the property is valued low due to the market atm and that it needs work, its a 4 bedroom and it would be a long term thing as I am not planning on mum moving or anything for a long time, if the development aspect works out better then that could change things. Should the s…[Read more]