I’m selling one of my investment properties to fund the development of 3 townhouses on another block of land I have. I’ve never sold before so I have a couple of questions. Do I have to inform the bank that I am selling the property that they have a mortgage over? Can I retain the loan I already have and use it to fund the development.…[Read more]
just looking for some feedback. My husband and I are considering developing our block of land in Frankston-it’s about 800sq so we think we could get 3 townhouses on there. We already have an investment property in Armadale (VIC) worth around $500,000 (we owe $243,000). Whatever we do is to fund our retirement. Our question is around…[Read more]
How long is a piece of string? It depends heavily on what you are trying to get approved. I'd also make the point that the quality of the consultant can have a heavy baring on:
1. If you get an approval at all;
2. How long it takes to get an approval;
3. What is approved;
4. How expensive it is to build
5. What price you will get…[Read more]
Troy Harris has a due diligence checklist that might suit your needs. You can google his website or try this address it may be correct http://www.rookiedeveloper.com.
The block is in Frankston, Victoria. I think the easement is for the water company and it's right at the back of the property so you'd think it would be easy to work around. I'm going to do Troy Harris's Rookie Developer day next week so hopefully i'll get lots of useful information.
I've got a block of land the same size but the only town planner I've gone to so far has suggested the only way i will make money is to renovate the house currently on the block and then build 2 x 2 storey townhouses. I'm wondering how you managed to fit 7 x 2 bedroom houses on your block. Did you have to go to a couple of planners to…[Read more]
I'm no expert but certainly happy to share what I do. So far I've only bought 3 investment properties but I've seen pretty good growth from all 3 so far. I don't buy in a town with less than 10,000 people. I use the APM data found at the back of the Australian Property Investor mag to see what the 10 year growth % per annum is and look to…[Read more]
I've invested in Frankston south of Melbourne which is one of the not so nice areas you talk about. It all comes down to the tenant though. Our property has risen nicely in the last few years, and although the tenants may fall behind in the rent from time to time they don't wreck the place. You've got to find a good investment and then get a good…[Read more]
Happy to report that I am right to live thru until 2034 on my current position and I am only just putting in place my 10 year plan leading up to retirement. My goal is to leave a legacy for 3 generations to follow as well as beginning able to look after myself and It appears I am on track to doing just that.
My family and i love to cruise and tend to take at least one per year. We’re looking forward to the day when we can retire and take the cruise around the world! Hopefully property investing will get us there.
thanks for the heads up. I would never be happy using someone who had a past record like that or anyone who associated with them. In my opinion anyone who is capable of those kinds of deeds is not someone who I would want to be associated with in any way, and I will not deal with anyone who works with them.
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