Engage an agent, after all  it will only cost you a couple of percentage points for the piece of mind that you won't be caught for unlicensed selling of real estate. If you are in the business of selling oops flipping, you should be able to do a deal with an agent.

Do the short owner builders course at TAFE (a couple of days) gives you a background in what is needed to project manage construction & trades works. How do you intend going about the work – owner builder or project home? Project home builders specialise in standard design on the block, getting approvals and getting it built – probably the…[Read more]

Are you talking cheap and nasty vinyl flooring (loose laid DIY) or good quality 2.5-3mm stuff which requires professional installation?

Some questions come to mind – is he the strata manager or just one of the owners who is on the executive committee? A strata manager is neither obliged to own a unit nor live on the premises (they are licensed under the same legislation as real estate agents, auctioneers, business agents etc).Do you have annual budgets for the sinking fund and…[Read more]

Your solicitor will probably have to wait about 2 weeks before they can issue a notice to complete. I hope you aren't hanging out for the funds.

A couple of questions to consider: if it is a single tenant with a 12 year lease, prescribed annual rent reviews, rent paid directly into your account – what does the management fee get paid for ie can you give the manager the boot? Is the tenant responsible for the fitout and maintenance of the fitout ie projectors, IT equipment, video/phone…[Read more]

Tommi, are the footings the only item which failed inspection or did the owner get inspection for the framing, wet areas etc? If council continued inspections in the absence of a previous satisfactory inspection, they may be liable for passing the subsequent works and thereby accepting that the footings met the BCA requirements. What failed the…[Read more]

Oops, my apologies, the Legalworks business was absorbed into Matthew Shaw & Assoc. (They are definitely still around).

There are 2 questions that you need to address: firstly -what is the zoning? Do you need to rezone it in order to live in the property or does the current zoning permit such a usage? Are there other uses within that zoning which will give you a better return on the premises eg commercial? Secondly, speak to an independent town planner with regards…[Read more]

Tommi, if it is NSW then the council's website (under development & planning) may be able to give you details of the DA/CC. It will be a good place to start.

Depending upon how much you are trying to raise, the level of financial analysis that you have undertaken, the number of investors sought etc you may be able to get away without having to comply with the ASIC requirements (public offering). An advert in the paper may elict some enquiries eg JV partners required for development, share profits 15%+…[Read more]

As far as I know, most investment groups have panned the idea. You might do well to google 'affordable housing policy' or the like and see if you get any hits on the govt housing site as well as responses from industry groups like the HIA, MBA etc.

A few questions: How many units in the block ie it is common that very small blocks may not appoint a strata manager but generally as a block becomes larger then it is pertinent to have the strata professionally managed ie all compliance issues are covered – building/public liability/office holder insurances, maintenance issues, sinking and admin…[Read more]

As far as I am aware, you can only pay stamp duty on the value of the contract ie the option eg if you have paid the vendor $10k for a 6 month option contingent upon a number of conditiions (DA, subdivision approval etc) then you only pay on the value of the option contract as there is no certainty that you are going to proceed with the contract…[Read more]

Slight variation on the above  CGT was introduced Sept 1987. However I recall that there is a provision that if substantial works are undertaken to a pre-cgt property eg knock down/rebuild or subdivision, then the property will become liable to cgt from that date.Were there any costs associated with the subdivision? eg sewer, road access,…[Read more]

You pay gst  regardless of the profitability – you may or may not pay cgt.

It may be time to speak to a financial planner regarding the changes

A couple of points to consider: do they want to move? Are the other residents of the villages closer to yourself a good match with your parents? Will moving upset your parents due to the friendships they have made in their current village? (Old folk are funny that way, familiarity and security is just as important as being close to family).How…[Read more]

First port of call will be the council – check that the work was approved ie DA/CC. They will then inform you who the certifying authority was or if the work was illegal – i'd be kicking my solicitor if the work was illegal and not identified on any survey plan.

If there is no road access, how will you access the block? Do you have a right of way? How far is it from the road & services?