Hahaha! You got it!D

Well done Christian, it really is this sort of smart thinking that will get around the housing shortage and planning rules.D 

Melbourne is one big bubble full of people willing to buy anything at any price. well it started off as a bubble now has become a mini boom. What next? Headlines with "the boom is here". The media, RBA and politicians will see what they want and will do what they want. We as investors get to go in and make money by using our brains and our…[Read more]

The only problem with hiking up income tax is that most people who can afford a top accountant wont pay over 30% tax. The only people who will hurt will be the tradies and the like who do Saturday overtime and lose all of it to tax. Just my opinionD

I thought in most states you had to have a rooming house permit if you had over 6 or so people in the one house. I was also under the impression that there had to be extra fire precautions and the like. I am surprised the council wont do anything as i would have thought they would have liked their cut.But like Richard says try the Body Corp they…[Read more]

Ohh I'm only a newbie at this! I've only bought 3 properties and only done one 3 unit development (takes me up to 5 properties) which resulted in a healthy profit around the 25% mark. I wont tell you dollars but it was enough that the next 2 developments should be underway shortly. Thanks for asking, what about you?D

Wouldn't normally have posted on this but was caught by the line "Good on you if you can go out and do developments just by talking to experts. Very dangerous strategy." Was very amused! How did people manage before Carly Crutchfield? How did they do any developments with out someone telling them through a DVD? Probably by talking to experts. That…[Read more]

Hi,There is some flooring on graysonline. I don't know if the prices are competitive or anything. There is also a renovators auction in Cheltenham listed, might be worth a look. Maybe you can pass the off white painted look as shabby chic or something D

Here is the tidbit from ComsecPoint of View: House prices up, retailspending and building approvals downAre below normal interest rates creating a housing bubble?Clearly that is likely to be a question that will be discussed byReserve Bank policymakers at the interest rate meeting nextweek. And the latest round of data has added further colour…[Read more]

Hi Again,I will tell you this as your friend. That means I will be as nice as possible when I say………………………………………………………………………..NOBODY DEVELOPS JUST FOR FUN! I would caution about spending 18 mths and a lot of money on doing a development that would give you basically the same end value as all of…[Read more]

Thanks guys from me as well. I did always wonder about the IKEA option………. It might be worth seeing if any of the Bunnings in Vic have a comparable (read cheap) service. I would go with the wood stove thing too. I've seen one unrenovated and the cavity with stove took up most of the wall and was a supporting wall, looked like a real pain.…[Read more]

Richard is right. It is a very scary part of the project when you do not know if they have done the valuation yet (grrr banks) and you have already knocked the house down! Won't be doing that again. D

Hi,Sorry I'm not going to comment on the finance part, I'll leave that for Richard and Terry.Where is the site? depending on where it is having separate dwellings may have higher resale. The other thing is depending on where you are you may be able to get 3 dwellings on it. I know this adds a whole other dimension to it such as having to borrow…[Read more]

Don't worry Matt not looking for gospel truth here, just your opinion.Go Sonya you rock, these are memories your kids will have forever, and it is called quality time! Hope everyone can put up with my ranting! BTW I got a great bit of opinion through from Brutal Art's (go Christianb) newsletter which said that not only had prices gone up the…[Read more]

I think the govt relies on investors to provide rentals. Think about how many properties each investor on this site owns. None of mine are empty. That would be 9 people out of mine that the govt would have buy houses for. I don't see the govt buying heaps more housing stock for people to rent. Do you? They rely on investors to prop up the property…[Read more]

Current median where I am is just under 2 mil. Call me when it plateaus! D

Matt,Do you think that the increase in "aged care facilities" such as they are building around here, (Think pictures of grey haired, wine sipping, Mercedes driving, gents and ladies) will fill part of the gap and become a new trend? I don't see older people flooding out of this particular area hence the shortage in available stock for rent and for…[Read more]

Nice, well thought out reply! Ps you wont be dismembered!D

Yeah well look at petrol. I remember when it was 62 cents. That was only 12 yrs ago. I am facing unaffordability myself. Cry for me here people. At the end of my current lease (Camberwell) I will be priced out of the market. Rents have risen by $300 a week for average house. (Just under $1000 a week) All the houses I want to buy are over 1.5…[Read more]

Yeah I'm with the surprised part too. Supposedly you can undertake subdivision at any time, but title sub division (strata and the like) can only be done once the buildings are complete. We are up to this stage with our three and supposedly we could have started the subdivision process right at the start but were not told this. More time wasting.…[Read more]