I think there are still some basic strategies that work in today’s market. Buy an unrenovated property that already has positive cash flow then renovate to increase cash flow and add in some capital growth is one that might be a good starting point.
I don’t know that I’d say a strategy that works now will work for the next 10 or even 5…[Read more]
Firstly find an architect/Draftsperson or hand holder to help you through this process.
I recently met the team at Pillar and Post (Christianb and Breece are members of this forum) and the are great at holding a beginners hand through the process of due diligence and working out what will fit on a block.
Being both a tenant and a landlord, I've never changed the locks as landlord and never had a landlord/PM change the locks for me.
The exception to this of course is when I'm renovating. I'll change the front door lock, generally coz I'm changing out the whole door anyway. I have had ex-tenants visit during renovations and it's a nice…[Read more]
Plenty of lovely ladies on the forum are on the investment track with kids in tow (some of the guys too ).
You'll need to think about risk. How much are you prepared to play with, and what happens if that goes pear shaped? Are you happy with just cash flow positive properties or do you see yourself carving out a new niche and…[Read more]
How long will govt bureaucracy take? Maybe check out the planning maps on land.vic.gov.au on any blocks you are looking at. I checked one of mine yesterday and it was updated on the 27th June with no changes, so I'm guessing not everything will change, or maybe just in name only…
The best thing to do if you already own land or are…[Read more]
Yep get the contracts reviewed by a solicitor (preferably in the same state, so they know the ins and outs). You should be able to add clauses, get your solicitor to write some for you so they are nice and legal, it is then up to the vendor whether they accept the contract with those clauses.
You could also talk to the guys at Pillar and Post (formerly brutal art). They are in Melbourne and have been great contributors to this site for a long time. If I remember rightly Ash from Stacey surveying can also hand hold (or recommend someone) to take care of the process of gaining an approval.
Thanks Jacqui – I've been renovating for clients now so haven't had time to jump on here for ages!!!
See how you go with the property manager, you might find thy don't need or have time for the obligation of being your project manager. You might be able to talk one of your tradies into overseeing the renovation for you…[Read more]