Consensus here is correct in relation to YOU MUST DO YOUR HOMEWORK. I also agree that you must chose an investment property based on your investment strategy (whatever that may be).

However, I do believe there is a right and a wrong answer. This is the reason few are successful and lots are not.

I think the worst thing you can do as an…[Read more]

Very difficult to give you an answer without knowing if this is for yourself to live in or an IP.

If for yourself, then do you have children? Do you work in the city? Etc, etc, etc. This will change everything.

Ok, so I’m going to assume this is an IP. For $450k you could buy a unit, appartment in Surrey Hills or Balwyn. There is…[Read more]

Steps are basically as follows:

1. Get a planning permit – this involves going to a land development firm (easiest way), getting them to draft up some architecturals, place the unit on the site etc. This is very important as most councils now require a certain amount of private open space (POS) that is north facing. They will also look at…[Read more]