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Thanks so much LH, these are the docs I got from the Ipswich council. Love to hear your thoughts.
Cheers DM- see link belowThanks for that Benny and Corey, much appreciated. 2 interesting slants on this, im still personally going teh rent investing way, but friend mate be different so its good to see both sides.
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This reply was modified 7 years ago by
dangermouse99.
6th Year in a row – brilliant as always
Yeah I Thought that was the case. Apparently I need to do a build over application if I get close to that 1m limit with Western water and Council. The drive way is easily 3m, its currently enclosed within an annex but it could be easily unbolted and pull downed. Just need to work out where to put the garage as that is at the end of the driveway. Do you honestly think we used that back part as POS that there is still enough room to build a duplex.
Thanks so much for your help.
Cheers
DeanCan anyone recommend a buyers Agent here in Melbourne?? Been looking for a good referral.
Cheers
DMHi Brian, I’m from the central coast (Umina) and I’m a active property investor but by no means a expert.
On the back of Sydney the coast has boomed as well, so to be honest I wouldn’t buy there, i think its at the top of the market and hence for this reason sold 2 x IPs in the last 6 months to take the profit and run. Im investing else where and I think in NSW there is more value to be had like South of sydney which hasn’t had as good as run as say the CC. If you were going to by, I think the Northern part has more value than southern parts, newer suburbs and less dense. Only my opinion.
Cheers
DMHi Richard
TErryW from this site has been setting up my structures but can’t do this apparently and like you, he recommended Darryl. After some initial contact and numerous follow-up emails etc etc I can’t get a definite answer or quote out of him to what is needed and costs involved and its been weeks and weeks and weeks hence why I’ve posted on here for another referral…..been frustrating!!!Hi Ben
Yeah sort of, I just use 5% as a general rule when it comes to costs, so approx $20K as a rough rule, so really only a small profit, yes some CGT as I belive its classed as a IP rather than IP, not 100% sure of the rules there as its been 10 years since I lived in it.
1. It is cotsing me a samm amount to hold
2. I visit home regualry and have a great managing agent, so no worries
3. Not to much opp cost as I can tell
4. The growth has been great teh last 12 months but not sure it has too much to go and the will flaten and stablise i would imagibe, hence why i thought of selling in such a hot market.HI Guys, yes all valid points and I have questioned it seriously myself keeping or selling it. The main reason……it was PPOR on the Central Coast of NSW before moving to Victoria and have had it as a so-called security blanket as after 10 years we are seriously considering moving back to NSW and either moving into it or selling it for a bigger PPOR. That is the only reason I have kept it, plus I bought it at top of market and even though it served its purpose for security and equity to purchase and profit for a 2nd unit in the same complex, plus now it helps outlay some of the + cF I have in a Qld mining down IP. I didnt know about cross security 2 years ago even now I do and it wont happen again, im just dirty on not getting my hands directly on the profit to buy again….suggestions on what someone would do in my situation to buy again?????
I agree with IP Now, they provide some good info but I think with altering motives to sell the propertties they have on there books, I think they just do it better than others by offering mentoring and other information services.
Should I consider this new product if Im suing a MISA account currently?
Cheers
DM
I did my research for doing one on the Central Coast NSW, everything including approvals and fences for a really decent spec'd 60sqm granny flat was going to cost a tad over $100K. Imspect quite a few and were quite impressive and now getting $330p/w which is more than my double story brick townhouse around teh conrner.
I was sort of talked out by a CBA valuer who said he would not value up the whole property because of a great yeilding granny flat, so there would be no instant equity to e able to go again to the next property…..very tempting with the rentals yields, but I walked away…..just my 2 cents worth.
I would also consider dual ocs!!!
Cheers
DM
Nice Cameron, how and wat program did you design this in?
Cheers
DM
Many thanks for this, but unfortunately he has taken on extra work over the w.e and cant come which is a bummer for him.
As he hadnt heard from me for a week he decided to take the cash so he can save save save for his IP.
Appreciate yoru response
Cheers
DM
Im hering conflicting stories in Gladstone Josh, i was up there 12 months agao and was aware there was going to be a oversupply of land etc in that coming 12 months, Other people are telling me to get in ASAP as its just going to keep going especially with all of the proposed projects which means proeprty is going to keep going up.
Interested in your thoughts.
Cheers
Dean
Thanks guys, I should have mentioned it is NSW. Bankwest his current provider said he will have to, but his accountant wasnt so sure and suggested he seek more advice through a solictor, but I thought i would also ask on here as I value alot of expert opinion that resides on here.
Cheers
DM
I have studied their developments as well and think mostly they are a good idea. Very disappointed to hear though the delays already which impacts profit.
My lender was worried how I could get finance and considering the many other investors involved and how that could all work with approvals.
Id love to hear more about your journey Crido and the pros and cons of the development, im most interested in what you are doing, pls keep us posted.
Cheers
DM
Many thanks for that sounds like a decent opp, just shame the auction is this week as I havent done enough due diligence to make a 100% decision.
DO u know if there any 1 into 2 very close to that location so I could check out some examples. Be interesting whether u culd do a 3 bedder or not.
Do u have an opinion for high/best use?
Really appreciate your feedback and will keep in contact for other opps and possible future business.
Cheers
DM
Good question Ryan. & one probably I can't answer exactly. The events I have done with Troy have been great, & at times wondered too if I was up to speed enough. But after doing them & taking notes I felt they have been beneficial every time so never a waste of time or money. I'm now doing my 1st development with a aid of a mentor & still think it will be worth it for me, so let us know wat u think. Cheers dean
Is anyone interested in this idea?
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This reply was modified 7 years ago by
