It comes down to a lot of things including the numbers and also lifestyle. There are a lot of investors who have a large portfolio as they have bought in lower entry point suburbs whilst renting close to the CBD (due to work or lifestyle reasons). This allows them to take advantage of the negative gearing benefits. However don't purchase a property for negative gearing. Purchase a property based on your strategy whether that be development, subdivision, renovation, etc. 

This is why you need to always do the cashflow numbers and see what scenario stacks up. 

Regards

Shahin

Hi Mate,

Here is the website for the NSW Planning Policies however remember if it doesn't fit these policies (and in most development scenarios it doesnt) then you need to refer to each of the council's DA guides.

http://www.planning.nsw.gov.au/list-of-state-policies

Regards

Shahin

Hi Matt,

This is a great idea – I look forward to the site going live in the new year.

Regards

Shahin

Have you checked whether you need council approval or not?

Check out this site:

http://www.legislation.nsw.gov.au/fragview/inforce/epi+364+2009+sch.1+0+N?tocnav=y

If it doesn't require council approval then you here is a summary of the costs before you do anything:

Private Certifier: $1,500 – $2,000

Architect/Draftsperson: $2,000 – $3,000

Engineer Fees: $1,000

BTW I would go for a larger GF if possible. 33sqm is quite small even for a GF. 

Ahh yes floor plan – so important yet developers/architects stuff it up so many times.

I have a several investors from Indian backgrounds who are drawing the equity against their existing properties (the loans are standalone facilities to differentiate the loans that relate to the investment or PPOR loans) and they are parking their cash in Indian Banks earning high interest. 

I would use a simple variable loan with a linked offset  and have the cash parked there. From there you can use it all at most or progressively. Just need to be aware of the lender has any restrictions on the number of offset accounts you can have (such as ING).

Volatility of the currency is one thing but its a very common occurance. 

Hi Ross,

Yes it happens a lot with Contracts of Sale hence the importance of having a solicitor review the COS before you purchase.

Did you have a specific question or concern because there a lots of different variations. 

Regards

Shahin

Hi Rachel,

You need to worry about the rainwater tanks prior to building. If its above ground then thats generally fine (although the excavator may need to create a level if applicable for the tanks to sit on) however if its underground then its cheaper for the excavation to dig up the hole when he is excavating the rest of the site. Do this yourself with the excavator instead of getting the builder to do it.

To give you an idea – on one of my developments I did the storm water and rainwater tanks for about $6,000 whereas the quote I got from the builder was $22,000.

An excavator is the person who sets up the stormwater drainage. Is this an owner builder job or do you have a builder? In either scenario you need to make sure that the excavator is on the same page as the builder.

If you are in Sydney I have probably the 2 best excavators in the business. Most importantly they are trustworthy! There are a lot of shonky excavators out there.

Regards

Shahin

Its not that black and white and it depends on a number of things. I have done a few under resi and 2 under commercial. Many banks will not accept boarding houses as satisfactory security so you would need to go with a specialised lender.

1. Stormwater and drainage

2. Water and Sewer

3. Electricity

4. Fencing

5. Driveway

You may be able to do the driveway earlier if the access to the block can be from another side.