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In order to achieve your goal you will need properties that will achieve good growth.
In my opinion properties that are located close to the water or thet are within close proximity to the city will help you maximise your returns. It is also important to note that you will need to purchase properties with good land content for growth as well.
I might get shot down here but, in my opinion Ipswich is not a good long term investment as it is in a lower socio economic area, hotter in summer and colder in winter and there are acres of land available for further development.
One of the key factors of property growth is an increased demand for a scarce resource…therefore if there is unlimited supply of land in an area then your growth potential is lower. This may not be aparent in a rising market because developers get caught short with land production and prices will rise. However, once the market has normalised the real story unfolds.
As an investor your aim is to use equity from properties to add to your portfolio. Therefore if the growth is slow then your ability to duplicate is severly hampered.
One strategy I use is to created equity rather than rely on the market. I do this by doing small developments. This includes small lot subdivisions and duplex developments.
This has helped me accelerate my wealth creation.
http://www.developersedge.com.au
130073 5934
Martin
In that case I cant see why you cant do the same yourself.
However, developments carry risks and each site you look at will need to be properly assessed for all the hidden costs. The majority of these lies in the operational works needed for services.
Other costs such as interest,council fees purchase costs will need to be factored in as well.
You will need the services of a good townplanner to advise on the suitability of each lot you look at.
Good luck
Regards
Sailesh
http://www.developersedge.com.au
130073 5934
This is a common strategy in Brisbane as there a lot of old Queenslanders in Brisbane’s inner suburbs. In order to comply withe the council requirements you are compelled to build homes in sympathy with the character of the street.
Relocating homes is one way of achieving this.
However, before doing this you have to conduct proper feasibility before embarking on such a project.
In the current economic climate it actually cheaper to build a new home as opposed to relocating. This is because the cost of relocating and building is a lot higher. This is because with renovations you need specilist carpenters who custom the renovation as opposed to a new home which is put together on a modular form and put together. The cost of labour here is a lot cheaper due to its simplicity.
Renovations also require matching old materials which can be more expensive.
Therefore, if you are planning on making money out of this exersice make shure you do your homework first. However, if you plan on using it as your PPOR then you cant go past the charm and character of an older home restored to its former glory.
http://www.developersedge.com.au
130073 5934
You might find some stiff opposition from council or neighbours if you are planning this in a new estate.
I am sure that the land developer would have tried to get the maximum number of blocks out of the subdivision in the first place. So your chances of further lots would be very slim.
http://www.developersedge.com.au
130073 5934
I just came across your post today. Did you manage to find the info you needed.
Over the last 4 years I have been involved in over 40 small lot housing projects…sliders and splitters.
If you need any further information please feel free to ask.
Regards
Sailesh
http://www.developersedge.com.au
130073 5934
I am currently planning building 6 duplexes in Brisbane each duplex has a total floor of 150 sqm. I have just submitted the DA application for these on a res b site. We have met with the council and our submition complies with thier codes…so approcal is a mere formality.
The cost comes to $730 per sqm turn key…yes it includes everything at this price curtains, carpets, landscaping, driveways, stainlees steel appliances, etc
I spent 3 solid months looking for a good builder that could build for a competative price ( I do this for a living)
I also help other investors by sourcing development sites and project managing the development on thier behalf.
Regards
Sailesh
http://www.developersedge.com.au
130073 5934
