Oops- didnt mean to offend anyone, and it seems that I may need to explain-

Pisces- Your point is taken on board Re architects. I have misquoted a good source. In the SMH a week or two ago, the 2-3k sq m was quoted in the domain section. On rereading it, it was regarding renos/extensions in the city by very well known architects. I got my wires…[Read more]

Might be interested myself. What area and $ are we talking about?

Oops, my mistake, when I said block of land, I really meant block of land with a crappy just rentable house till the da is passed and the bulldozer flattens it. Would I still be needing a construction loan, or just a normal loan now?

Once again, I have had to reread the posts multiple times to fully understand the width, breadth and knowledge…[Read more]

Why shell out any cash. Assuming you are on the internet [biggrin] check out the councils web site and download all their dcp’s with regard to subdivision, duplex (attached and detached rules). You may be able to build 2×2 attached duplexes, or subdivide in to three blocks, etc.

Elves, I would like to disagree with your two ways to purchase.

i) Buying 2 blocks? Why bother? the whole idea is to squeeze 2 houses on the one block. But, if the 2 blocks could be joined and subdivided into three then I would be inquiring further!

ii) DA approved sites seem to be incredibly overpriced. Owners seem to look at the (inflated)…[Read more]

Always good to see a bit of discussion going!

My theory is that the majority of OTP buyers are investors who wish to buy on figures (cheaply), wheras the majority of home buyers (ppor) will make an emotional “value” judgement.

Thus, the completion price would usually be higher than OTP

If he should be paying $170, then perhaps you could explain why

Firstly, he is paying $150
and secondly, your guilt and angst at charging him $160

My 2c worth:-

When the supply of something is limited (beachfront developable land/ shortage of lifesaving medicine) the price will be bid up by rich people, not bid down by poor people.

With huge population increases to sydney and qld, their re can continue to increase, and once it gets to a certain value, the old gets smashed down, duplexes…[Read more]

Many thanks[biggrin], my learned[grad] colleague on your wonderful [strum][hair2] find.

Boy oh boy oh boy is this your lucky day. After months of research, thinking, looking, I have come up with a strategy for exactly this scenario, because I am about to do exactly that.

Building wise- Architects charge a fortune 2-3K a square metre, your mastertons etc are under a grand. I think a designed house would need to be done, at a much…[Read more]

Ah, if there is only one profession lower than politicians around election time, it would have to be the insurance companies, particularly after the listing of NRMA (that $1500 dollars we got was a bribe, not a present, but I digress)

Most IC are hopeless. Eg I was going to get a tree lopped down, which was overhanging the house, rang up for…[Read more]

A much easier way (if possible)

i) Stay at home with the oldies
ii) Buy investment property in a place which you would like to live in down the track
iii) IP will probably be neg geared- thus, you will lose a bit of cash, and get a proportion of it back at the end of the fin year
iv) living at home will reduce your expenses significantly.
v)…[Read more]

Ah, the joys of REA! Such love and warmth exudes from them (similar to used car salesman, politicians, journalists, and American CEO’s)

My 1c worth.

If an agent appraises a house for say 300k sales price, 10k commission, and you agree, then how does this sound? If the agent can get you an unconditional offer of 300+K, then you owe them their…[Read more]

Good to hear of some replies!

Carlon, sounds like you have done a beauty! May I be so rude as to ask with regards to your 230 blocks, how big was the original land, approximate location, and approx. costs and approx time in getting through council?

Resid. wealth- would be v interested in reading the manual- I could even proof read it for you!
A…[Read more]

An option wasnt an option, but after reading some of your replies, (espec. the one about walking away, and the numbers game), I got to thinking, what if it was the only offer that I made.

But then,

Met with an intelligent lady who consults regarding IPs, developments, etc, and was very pleased with her knowledge and intelligence. She was aware…[Read more]

Couple of very, very scary thoughts.

Hate to mention this, but will anyway.

“as we have only been together approx 10 mths and I hate the thought of a messy problem with my IP’s if we splitsky and he wants his share…… not worth it.”

I hate to tell you this, but in the eyes of the law YOU ARE ALREADY MARRIED.! (i think defacto is only 3-4…[Read more]

I aint read the books, but hate to see an intelligent thread getting murdered unnecesarily.

Few ideas-
i) buy with a long term settlement, then market moves up, revalued, easy finance.
ii) 100% vendor finance. If the vendor will lend you the money, you may not need a deposit
iii) 30% vendor finance. Bank lends 70%, vendor 30
iv) buy and renovate…[Read more]

I too, have been considering the attic (or loft, for the yanks). Havent checked with council yet.

Theory- build the frame in metal, with triangles, instead of trusses. (trussed roofs cant be habitated in by humans). Even if council got narky, one could quite easily just say that we use steel so we dont get termites.

Then, after it is approved,…[Read more]

Personally, I too had the same feeling Re the M7, but I went on the tack that if it is joining 2 parts, go for the middle-problem is, all those houses in that area are 800k plus, minimum of 2.5acres. Yes, they will be subdivided in the next decade or two, but now? would be massively neg geared. Also, nothing (okay, almost nothing) is for sale…[Read more]

Tony, I would be very interested to hear of your plan B’s and your exit strategies on your properties. Do you usually tie up the properties with an option while taking the da through council? Or just make sure that you wont drown in neg gearing if you own it?

I too came across yourproject, and bought the toolbox and ebook (brilliant). Did you…[Read more]