Kate :)

I have done 2 subdivisions in the past year one with one block out the back and the other with two. Our costs were a lot higher because we needed a carport and also needed to upgrade the whole façade as it is survey strata. As Kent said it also is subject to the conditions of the subdivision.
The biggest cost we have incurred if the…[Read more]

I find this extremely offensive if this is what you are implying – I myself come from a town of less than 500 people and do not believe I am…[Read more]

Our strategy is to renovation and/or subdivide and sell so we are looking only at houses at this stage. Once we have enough capital we will be able to buy properties with good rents and capital growth outright and live of the rent (that's the plan anyway), but right now we are focused on building the capital base.

Thanks,
Kate

Your best option if you have the time is to source the trades separately and buy the materials yourself. For a bathroom that size I wouldn't pay more than $5k (for an IP) and I am in Perth. It is about getting multiple quotes for tiling, plumbing etc and sourcing the tiles etc from cheaper stores that sell the same product for…[Read more]

As I said no I have never been to QLD.

Thanks

I work for a building company and would like to point out that sometimes there are things that come up outside of the builders control and will be extra costs, this does not mean the builder is trying to rip you off or get more money from you, but they need to cover their costs as well.

The contract should have a clause regarding…[Read more]

Although I agree with what everyone has said getting educated etc, can I just say make sure you are having fun! Hang out with friends and have fun, don't take life too seriously at this point you are still so young!
I am 23, started at 19 and have bought 6 properties now and I think I'm in a pretty good position in my life. My point is…[Read more]

I was meaning exactly what Terryw has said. I have read this strategy in a number of books and they all mention if it is structured correctly the 'middle man' so to speak won't need to be stamp duty, only the final purchaser. However, it never went into detail as to how this is possible, hence the question.

Thanks,

Kate

My partner and I invest in Perth and focus on subdivisions and renos. Last year we did 2 renos/subdivisions in Bassendean, but now we are looking for the next one Bassendean is not as viable as it was a year ago. Prices have increased too much to make anything worth while and properties are being snapped up in a couple of days.

We have…[Read more]

I just need to find our specifically about developing on a block that is already part of a strata title – do you know if his was?

Thanks,
Kate

I have used Kevin from Jamie's recommendation and he is very good at was he does.

Thanks,
Kate

I use Prak from Harcourts Maylands. He is an investor himself and is really good at what he does, he has sold 3 blocks and a house for us

Thanks,

Kate

You could possibly be spending money to lose it! People pay for character homes (depending on the suburb). If the cornices etc are in good condition, don't pull them out!!! With the timber you may also be talking about a picture rail? About 3/4 of the way up the wall and this is a character feature as well! What suburb are you in and do…[Read more]

I'm in Perth and the only suburb you will find what I think your after is in Armadale (from the ones you have listed). If you want to build a duplex the new estates won't have big enough blocks at all, they have already been subdivided down for first home buyers etc to build on. You will need to look in more established areas with the…[Read more]

Not sure on the cost, but make sure you check that the stumps have not been damaged – this will be what costs you the most!

Thanks,

Kate

I can recommend Heidi Hunter Settlements for a conveyancer and I've used both Archicentre and Resicert for building inspections and both were great.

Thanks,

Kate

We have negotiated a price with the seller and have a sale! There were no other offers  

I definitely think she is bluffing as she has said she showed two people through today and are expecting their offers this afternoon so no offers as yet.

Glad I called her bluff!

She has just sent me another email to try and guilt me into signing it – but I have let her know I am sticking with my offer and if the seller would like to negotiate as per a normal offer I am more than happy to.

Will see how we go.

That makes me feel better! I'm not going to sign the form! Agents are so slimy!!

Kate

Haven't got the email yet – my email is kateej_03@hotmail.com

Thanks,

Kate

We use Jamie from the forum, he's in ACT but that's not a problem at all

Jamie – I have just sent you an email

My partner and I have just bought a property to renovate and subdivide and sell in Bassendean – where are you looking?

Kate 

I am currently doing the course and the amount and depth of the information is incredible! It goes through everything you need to know including the due diligence process, structuring, how to deal with agents etc.I would recommend the course to anyone.

Kate

We bought a property sight unseen – we had the building inspector take lots of photos for us and gave us a very detailed report. He gave us a lot of confidence that everything was fine and everything that wasn't we were able to negotiate the price down

Kate 

The idea of using a company as a beneficiary and lending back to the trust is someone we would would as all our profits will be going into more deals! I am trying to find a good accountant at the moment – if anyone can recommend one in Perth that would be much appreciated!
 
Thanks,

Kate

We are in Perth. We did have a good accountant but they are screwing us around at the moment so need to find a new one!

Kate

Scott no mates – this is exactly our situation, although I don't earn in the highest tax bracket the development we are looking at doing will definitely get me there and my partner pays the highest rate so trying to work out if there is actually any point to buy in a trust.

Kate

Do you mean in building terms?

If so a provisional sum is a cost that can go up and down. Earthworks and anything that requires digging will be a provisional sum as who knows what you could find and the price can easily be blown out. However, it is possible it will come in under the amount and you will receive a credit.

A prime cost…[Read more]

Thanks,

Kate

I believe the trust is a hybrid trust and is both a unit and a discretionary trust, and it will be borrowing to buy units in the trust. Are banks happy to lend money to do this?

Our mortgage broker had told us if we borrow in a trust structure we could only borrow 70-80% of the purchase price, however we would like to borrow around…[Read more]

We would like to have the loan in our own names so we can borrow with less deposit. Also the accountant did say by borrowing with a personal name and giving the money to the trust to buy the asset you are able to claim the interest on the loan.

Thanks,

Kate

Thought I would post it up I didn't know what DOLA was!!!

I think there is some truth to this article. I know a lot of people looking for places to rent in Perth and have taken places for much more than they are worth just so they have somewhere to live. I think if they find somewhere cheaper they will break the lease to move in.
One of my friends has been looking for over a month, an agent…[Read more]

I have Renovating fort Profit on my Facebook and she has said she will release a statement in the next couple of days. From what she said apparently the lady who did the course had not followed it properly and ACA had filmed it when it had not been finished……….

Kate