sorry Redwing – not much to add here… I have never used them. It is correct that Celebration and Homebuyers are part of the Dale Alcock group and from my snooping around it would appear that they are the only major building group in WA that can actually build anything in a reasonable time frame, tho they do seem to be taking on an awful lot of work. the other builders are woefully behind.
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Thanks to every one for the replies re: two storey developing.
I’ve got a block in Quinn’s Rocks that I payed $220,000 for, and having spent that much on the land I felt that a two storey might be justified. Second storey would have an ocean view, although not a very good one.
I’d like to hold the house for future CG – I could just hold the land as I’ve done for the last year, but as I understand it I can’t negatively gear the land until there’s a house on it generating income.
Hence my thoughts about building a two storey house. As an IP this doesn’t sit well with me as my natural instincts are to build a cheap house on a cheap block. But hey, I’ve got the land and suppose I should do something with it!
The other Perth project I’ve had in mind was to buy a decent sized house/block in the Balga or Westminster areas with a view to short term rental as an IP, with plans for future subdivision.
I went to the bank on Wednesday and asked them for a loan for both projects (couldn’t decide which one I should do!). I think they’ll go for it, although I am stretching myself a little.
Please note that I pretty much know nothing about property and developing. My grand plans are really all the fault of this forum. So if I go bankrupt, it’s all your fault! [biggrin]
Rob W
Sounds like you are on a roll.I would go Balga as it represents better value at present (median price $200,000) as opposed to Westminster ($230,000), lots of developers buying up in Balga and prices will catch up to Westminster eventually.
If budget permits, I would also look at block that is around 800sqm2.
Also, there is a huge demand for rental properties in this area, especially 4 bedroom homes.
Marisa
have been told that celebrations have applied a 4% price rise and shut their doors for a month. seems demand is catching up with them as well.
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Hi Rob W,
as an experienced property owner in relation to rentals I would look very carefully into the type of tenants you would be looking at in the area you mentioned – Balga.
We have made v. good CG in similar areas but the headaches in tems of tenants can be huge!! That is with a property manager!
It’s all worth it if you can accept tha work that may be involved.
Ther’s always the option to build and sell.Julie[blush]
Hi Rob W,
I forgot to mention that for your Quinns Block you could look at building a “loft” style house.This gives you the potential for views but without the extra expense of two storey.
You are essentially building into the roof space to give the 2nd storey – saving a lot compared to 2 storey construction techniques.
They have become very popular in one area I am developing in (a beachside subdivision).
cheers Julie[biggrin]
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