By the way, if you find these people to be threatening, it might be useful to take out an intervention order to keep them a certain distance away from you and your property.

Hi matieIf they have no money there is no point billing them for the damages – and it does not sound like they are the kind of people that would pay up anyway.Did you have landlord insurance with your home insurer?  If so, you'd be able to get some money back for lost rent, and some of the damage.  Other than that, you'll have to pay for the r…[Read more]

Cheers for clarifying and improving on my suggestion Richard

Personally, I would steer clear of the unit idea.  They don't tend to appreciate as quickly as houses, and as such a unit might not provide you the option to upgrade to a larger dwelling later on quite as you hope.I'd lean towards the house on a decent block idea.  Subdivide if desired.  May I suggest an additional option?  Buy something, but ren…[Read more]

Quite.  Even if everyone starts with all good intentions, people can have a change of circumstance during a project.  Here are a couple of scenarios:- a project partner could run into some marital trouble and wish to get divorced.  Under such circumstances, he/she might hope to pull his/her money out of the project at a time that is not pa…[Read more]

ps you could also subdivide into two blocks of land, either before or after construction.  So you could effectively sell the backyard, either with or without a dwelling on it.  speak to council about this also if it interests you.

You would definitely require permission from council, yes.    The beauty here is that your mum already owns the land.  All that would need to be paid for is the dwelling.You could ask to build a dwelling there, and then put perhaps a granny flat in as suggested in my previous posts.  Or you could build an entire house, or a freestanding unit…[Read more]

Great result – smart man   Thankyou heaps for checking back in to let us know how you got on with this one.  It is a worrying issue.  We were worried for you guys.What's the go with the backyard on your mum's property?  Any feasibility of building a small dwelling on it do you think?

ps have a read of this thread; https://www.propertyinvesting.com/forums/property-investing/help-needed/4329963.  Might be a good idea to get in touch with the chap who has done some research on purchasing serviced apartments, and the implications of doing so

ps have a read of this thread; https://www.propertyinvesting.com/forums/property-investing/help-needed/4329963.  Might be a good idea to get in touch with the chap who has done some research on purchasing serviced apartments, and the implications of doing so

Phew, thank goodness!  Smart decision!!!  Do it matie.  Furthermore, do not stress if you not see the growth you desire in 12 months.  It's the average over a few years that matters.  An area can sit stagnant for two years and then BAM, up she goes 40%.

Hi againI think we've said all we can say.  Personally I think it is a bad idea to buy this place. There is a reason it is hard to get finance for these places.  Nobody was suggesting you buy it as a PPOR or even as an investment.  We were suggesting that if you want to live there badly, just rent there.  Buy something else that actually has cap…[Read more]

There is another thread going on at the moment dealing with the question of serviced apartments.  Take a look :https://www.propertyinvesting.com/forums/property-investing/help-needed/4330114

DWolfe wrote:
Hi,So for demo costs allow about $6k just in case. For all the subdivision costs = plans, council, working drawings, etc allow up to 30-40k if you get the architect to do all of it

Hi DWolfeIf he just wanted to subdivide (and put in the obligatory water connections to each property) but NOT submit an application to construct…[Read more]

Yep you can sell the land without the building permit.  You'd get a bit more for it if you had the permit, of course   You can get an idea of how much more by scanning land prices on http://www.domain.com.au

Spot on new_start.  Excellent to hear we've gotten through to you   It is, I assume, more likely that people on this forum are better read and educated on investment matters than your family might be   We are absolutely not saying "do not buy a property".  We are simply saying "we don't think you ought to buy THIS property".  The rule of prop…[Read more]

new_start … if you take a look at the contributions Terry makes to other threads you will see he knows his stuff and that his suggestions are made in the best interests of the person asking the question, not himself.   He's given you a pretty clear warning with his comment "I think you are silly to buy a property that doesn't appreciate. There i…[Read more]

perfect!  As Terry suggests, have the best of both worlds!  Live in this area you like so much for a while – but rent there.  And at the same time, sink your cash into something else.  Bonus is you'll be able to negative gear any losses.

It really depends on the situation.  For instance, let's say the one with the 12% growth is in a town that exists only because of one company.  What if that company goes bust or shifts its premises elsewhere?  Jobs in the town would be wiped out, and noone would have reason to live there.  Then your house would be worth squat….

Right so let's assume this place pays you $20k a year in rent, and appreciates at 1.9% per year (which appears to be the case based on the figures in a previous post).  Let's say a regular apartment doubles in value every 10 years, but returns say only 4.5% in rent.  Let's see how that looks after one and two years respectively.Scenario 1 : Buy t…[Read more]