contact real estate agents near you and they can give you estimate values.

Congrats Rick.This has been a great read so far. I hope I can buy an investment property in the US too.I have not  read in this post if someone has successfully got finance to buy investment property in USA with HomebuyersUSA or other agents.Anyone?

I just got the building contract from builder and got FPBC for $155K. The building is to be built at rear of existing house. It is a 2BR unit with about 75sq.m plus a 22sq.m garage.The above quote includes a carport for the existing house, and driveway, and also includes cost for removing the garage and clearing the rear area.Before I sign the…[Read more]

I totally agree to above comments

I have just double checked and confirmed that you have to hold your investment property for at least 12 months to get the 50% discount on CGT. No CGT on principal place of residence.

I think you need to live in it for at least 12months to be able to get 50% off discount on tax on capital gains if you sell later.I would be interested on suggestions on who to go to for depreciation report as i will be getting one when my development is over.

Thanks Beedie. How do i "put it out to tender". and what are the specs needed? I don't want to give out the working drawings and plans if I can avoid it coz the applicant on it is our builder. I just want to know if the quote of our builder is similar to other builders, or if it's significantly higher then I may still pull out.

Hi Corey,I agree with Nathan. Keep saving and educating yourself. Don't worry, you have all the time since you're starting at a very young age.Rich Dad Poor Dad by Robert Kiyosaki was an eye opener for me. I wished I have read that when I was your age.Good luck and keep dreaming.

My condolences to his family for their loss.It's very sad indeed

Thanks everyone for sharing your investing journey. You are all truly an inspiration.I am in my mid 30s and I wish I had this kind of mindset when I was younger. But I reckon that does not matter. What matters is what you are doing with information that you have, year in and year out, so you could reach your goals.We are just starting. We are…[Read more]

Yes it is Andrew.Thanks.

Have forwarded to the surveyor stamped plans and working drawings so they can start with the subdivision application.I have a question. Where does costs for working drawings and engineering works fall under? They won't be under townplanning costs nor subdivision costs, are they? Would it be under building costs then?

Hope everyone has had a good long easter weekend.Am really getting excited now. We just received the stamped plans last week from council. Working drawing are all done. We are now ready to subdivide, and while doing that we will get the engineering works done, then the building permit after that. Hopefully things will be much faster now than the…[Read more]

I totally agree with you andrew. that would be wishful thinking That's why I think it all now depends on the private townplanner we pay to do the applications for us. As professionals they should be able to manage this to reduce the application time to the least time possible.

I totally agree. But I think that's why we can file a complaint to VCAT; but that would be counterproductive as it make matters longer and if not worse.

Hi rishi,Our applications is with darebin council. Which council are you with?

Thanks for sharing as well. But I think I made an update in another post that we scrapped the two-storey plan and switched to another draftsperson who doesn't rip us off with every modification to the plan. So basically, we made it a 2 bedroom single storey as advised by our builder. Coz even for a 2-storey we can only still fit in 2 bedrooms as…[Read more]

We are in a similar situation with a friend. It's not the best option but i guess we all got what we wanted. As much as possible find other options if there is any. Weigh the risk first.

We are just waiting on the stamped plan from council, so it would be anytime soon. But there is a bit of development from my water application for the subdivision. Yarra Water says that we should not be planting a tree on one corner because the sewer is just under it; but this is on the plan coz council required it. I told our planner about it,…[Read more]

Activities for this year:1. Waiting on stamped plans from council (hopefully in a week or two). This planning permit took us almost two years. wheeew.2. Get subdivision underway.3. Hopefully building is finished by end of the year.4. Network with developers, and find a mentor (anyone?)Cheers,Ricky