Gut feel – you'll have Buckley's but it may be worth a try.

First engage  a town planner to review the LEP and DCP to confirm if there is any further development potential of the building, confirm floorspace requirements, landscaping provisions, parking requirements…….

Then engage an architect to confirm the following: building services (water, sewer, drainage, electricity etc) – does the main switchboard/mains supply need upgrading? Can you access the sewer & water supply in sufficient capacity? Has the garage slab been poured on a membrane? Do the walls meet the building code requirements for a dwelling eg dampcourse? Windows/ventilation to new areas? Noise separation from other units. Ceiling height must be at least 2.40 metres- the big killer….

Then chat to your solicitor/surveyor with regards to preparation of a new strata plan of subdivision. Is the garage a separate lot or just on common area with exclusive use rights? Will a DA for strata subdivision trigger a complete building code upgrade?

Now if you can pick the unit up for $nil or a little less, then after all the worst case scenario upgrade works you might make a small loss.

Let us know how you get on.

Focus on the landlord and the employer to confirm income (friends – what are they going to say?).

You should get a copy of their tenant ledger ie payments to the landlord – confirms frequency, regularity, amount paid and length of tenure. Questions to ask – how did they present the property at inspections, were they reliable, were there any issues during the tenure, how was the property left when they vacated, was the entire bond released?

Work reference confirms how much they get and whether they can afford the rent, how long in the job, reliability, personal presentation and the like.

Soil along any road will contain lead, main road exposure would contain more.

"The Study Spot " 

Noel Arnold

They've got an office in Melbourne

Deeply Why has its fair share of govt services occupying several office buildings in the main strip on Pittwater Rd. Traditionally it has been the cheapie suburb with lower social demographics but with the recent redevelopment of Dee Why Central and several blocks of units the prices have been pushed upwards with a changing of faces of the locals.

Apart from getting a lobotomy…I would direct you to make contact with a couple of the leading agencies in your area eg Cushman Wakefield and have a chat about how you go about getting into the industry.

No harm in having mates in ivory towers

If you're looking at spending up to $20M on a development, you might be well advised to spend a few hours with a QS and a couple of consultants.

How do you make it cheap – look at cheap construction methods (not in any particular order)

• cladding/timber frame
• concrete floor/carpet
• low ceilings (2400 mm, less in service/utilities rooms)
• steer away from glitzy finishes (caesarstone/granite benchtops)
• "builder's package" appliances/fixtures
• single glazed windows (standard glass) with locks
• no air-conditioning, heating (only if really needed)
• insulation blanket/sarking to roof/walls
• low pitched metal deck roof
• no skirtings/basic cove cornice
• hollow core flush doors with passage sets
• simple/single colour scheme
• standard garage doors no remote operators (or preferably carport/open parking)
• framed glass shower screens
• tiled skirtings to bathroom, minimal splashbacks, no listello, feature tiles or capping tiles

That should drop the construction cost – get your specification and schedule of finishes right.