Hi LW, as far as the use of your equity goes, when the time comes, i would consider a Line Of Credit (LOC) up to the maximum LVR you (and the lender) feel comfortable with.

This way you can use the LOC for a deposit without having to cross-collateralise (i.e. each property being secured with the next etc.). I personally beleive it’s the best…[Read more]

djones & Sonja,

Apologies for not responding for so long! Thank you for your interest. There’s so much going on at the moment – crazy time of year.

I have put development plans on hold for the moment. I have decided to go through the development approval process in the new year. I want to have the plans through by the end of next…[Read more]

Thanks everyone for your contributions. I think at this stage that the deal is a little too skinny to go through with.

I bought the property about 10 months ago and it was my first purchase ever. I saw $ signs because i could see that units were selling for almost as much as i bought the property for.

I think i was a little naive. I’m not sorry…[Read more]

Thanks everyone for your contributions. I think at this stage that the deal is a little too skinny to go through with.

I bought the property about 10 months ago and it was my first purchase ever. I saw $ signs because i could see that units were selling for almost as much as i bought the property for.

I think i was a little naive. I’m not sorry…[Read more]

Thank you Bill and APerry, that’s very helpful. I will certainly be following these leads up. Michael, what are the main other factors affecting how many units can fit on the block?

Cheers!

Guy

Sorry – I meant to ask if you think fitting 3 3br, 2Car, 1-2bath units into a 1009 sqm block was realistic.

Also, you knowing the area well, what would you say the market is looking for as far as these units are concerned?

Cheers!

Guy

Thank you Michael,

That’s great. When you say all up costs, does that include obtaining permits etc in the first place?

Also, is it realistic to try and fit 3 townhouses/units onto a 1009 sqm block – approx. 20m by 50m?

Cheers!

Guy

Anyone?

Cheers!

Guy