Total Members: 158,085

christianb

  • christianb replied to the topic draftman/Building designer for Maroondah Council? in the forum Value Adding 10 years, 10 months ago

    Congratulations on finding a property.
    You have now done more than most!

    Maroondah is not difficult to deal with. As with all councils they have a set of guidelines to work in.

    Local planning controls

    Victorian Planning Provisions

    The difficult part, of course, in understanding these various guidelines and navigating a successful path.
    Your…[Read more]

  • christianb replied to the topic cheap builder, 2 townhouses Melbourne in the forum Help Needed! 10 years, 11 months ago

    $600,000, at the sizes you have suggested is less than $1,500/m2.
    $1,500/m2 is a useful benchmark for townhouse construction of a "modest" level of finish.

  • christianb replied to the topic RESEARCH, DUE DILIGENCE & METHODS – ADVICE PLS in the forum Help Needed! 10 years, 11 months ago

    Dean,

    In essence you have two major issues (each of many parts) to contend with:

    The investment strategy – the financial goals

    The development strategy to achieve those goals.

    You need to do work on both of these parts and ensure they come together with the right structure.

    Seek professional advice, especially early on, to ensure you get the…[Read more]

  • christianb replied to the topic Buy,reno,subdivide,sell?,build?equity? in the forum Help Needed! 10 years, 11 months ago

    Dtermined, add it all up and see if it makes sense.
    You need to understand the fundamentals before you approach a lender.
    If it is profitable and secure, and makes sense, you should be able to fund it.

    Best of luck with the project.

  • christianb replied to the topic Property Subdivision in the forum Legal & Accounting 11 years ago

    If you are not settling until completion this is straightforward.
    You enter into a contract to sell that which is described in the TPP.
    Stamps are payable on the value at the time the contract is entered into – thus the benefit of sale off plan.

  • christianb replied to the topic Building a House on Property Owned By Parents in the forum Help Needed! 11 years ago

    As part of the JV agreement, the parents could allocate part of the property to you by splitting the title as tenants in common. There are tax issues on which you'll need advice.

  • Great summary Xdrew.

  • christianb replied to the topic Property Subdivision in the forum Legal & Accounting 11 years ago

    A Section 173 would be required if part of the property is to be sold before the subdivision is completed.
    In the simplest terms, it is an undertaking to complete the subdivision in line with the Town Planning Permit.

  • christianb replied to the topic Property Staging in the forum General Property 11 years ago

    Nice one DWolfe.
    I have used staging before, and would do so again.
    It should be considered as a development or marketing cost from early on in the process.

  • christianb replied to the topic find positively geared property in the forum General Property 11 years, 1 month ago

    Consider making your own positively geared property.

    Find a house with adequate land to build a second dwelling, ensuring the planning overlays are accomodating.
    Assume the house is purchased for $500,000 and can be let for $500/week.
    Spend $250,000 to build a second dwelling behind.

    At this point, a number of things can happen, but here are two…[Read more]

  • Craig,

    I am sure Ash will steer you in the right direction.

    I am reading between the lines a little here, but I thought I might give you something to consider.

    In order to subdivide land you will require a Town Planning Permit (TPP)
    Usually, in order to get your TPP council wants to know what you will do with the land.
    In this case, the land is…[Read more]

  • christianb replied to the topic 980sqm Land Corner block (flat) in the forum Help Needed! 11 years, 1 month ago

    Bosco,

    Plenty of good advice there.
    Here's some more that you may find useful.

    Understand what you want and have a plan.

    Understand the context you are working in – from zoning to re-sales.

    Have an understanding of the process, even if someone else manages your project.

    Budget for $1,500/m2 delivery costs.

    Get good advice early. The profits…[Read more]

  • Nice work Ash.

  • christianb replied to the topic First time development finance in the forum Finance 11 years, 2 months ago

    Aloha,

    A few things you may wish to consider:

    Our clients are finding two dwellings much simpler to finance than three

    Make sure your structure suits your sales/retention strategy

    Keep a cash buffer from the start – it's easier to solve problems quickly

    Include all you can in the build contract – little bits outside the contract amount add…[Read more]

  • christianb replied to the topic Greener than Kermit in the forum Help Needed! 11 years, 3 months ago

    You're welcome Jewel47.

  • christianb replied to the topic Help with Developing – Townhouses in the forum Value Adding 11 years, 3 months ago

    If you are planning a property development there are three major disciplines:

    Town Planning

    Architecture (design)

    Building

    There are lots more people involved, but the three above are the key.
    These three elements need to come together to deliver your project.

    Before getting too far down the track, the first step is to talk with a good town…[Read more]

  • christianb replied to the topic Starting again at 49 in the forum Help Needed! 11 years, 3 months ago

    Simon,

    I hope it all works out – for both of you.
    You may well be starting again, but you have a great advantage.

    What you have learnt along the way. If you have done it once….

    Time to think about what happens next, and to do your research and build a plan

  • christianb replied to the topic Greener than Kermit in the forum Help Needed! 11 years, 3 months ago

    Jewel,

    I wish you all the best with this endeavour.
    You have some great advice in there.

    I would offer a few points for you to consider:

    Establish a budget and respect the budget – if it can't be done within budget, don't do it.

    Renovating (I reckon) is fun, but keep the emotion out of it, its essentially a large transaction.

    Have a plan for…[Read more]

  • christianb replied to the topic Townhouse construction costs in Melbourne in the forum Help Needed! 11 years, 3 months ago

    The proposal should be robust enough to absorb some overrun.
    A budget of $1,500/m2 is an adequate starting point.

    Here is a simple equation that will account for roughly 20% margin after expenses:

    1/3 for land (including stamps and purchase costs)
    1/3 for development (including documentation, building and peripherals)
    1/3 gross margin

    For…[Read more]

  • christianb replied to the topic Should you buy in lowlife areas? in the forum General Property 11 years, 3 months ago

    If the amenity is good – transport, shops and activities.
    And the area is close to the CBD.
    Then great things often happen.

    The artists are attracted to cheap rents.
    The artists bring the commercial creatives.
    They, together, bring the people who want to be near the action.

    Then, off it goes!

    This happens in most cities, and it's a moving…[Read more]

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