Have you checked whether you need council approval or not?

Check out this site:

http://www.legislation.nsw.gov.au/fragview/inforce/epi+364+2009+sch.1+0+N?tocnav=y

If it doesn't require council approval then you here is a summary of the costs before you do anything:

Private Certifier: $1,500 – $2,000
Architect/Draftsperson: $2,000 -…[Read more]

BTW Matt – tell us more about the website keen to know what its about. I am actively developing sites so keen to share and hear feedback from other developers particularly from other regions/councils.

Regards

Shahin

Ahh yes floor plan – so important yet developers/architects stuff it up so many times.

Oh I see no worries – I have pm'ed you the details of the excavator. If he says the job is too small then I can give you the details of another equally as good excavator.

Regards

Shahin

I have a several investors from Indian backgrounds who are drawing the equity against their existing properties (the loans are standalone facilities to differentiate the loans that relate to the investment or PPOR loans) and they are parking their cash in Indian Banks earning high interest. 

I would use a simple variable loan with a linked offset…[Read more]

Purely depends on zoning and the council restrictions. Each council conditions vary enormously. 

Have you consider Sepp 5 development?

Re finance too many questions before an definitive answer could be given but I would be looking at the lowest possible LVR to leave you with the fat needed on a multi dwelling dev site. 

Regards

Shahin

Hi Ross,

Yes it happens a lot with Contracts of Sale hence the importance of having a solicitor review the COS before you purchase.

Did you have a specific question or concern because there a lots of different variations. 

Regards

Shahin

There are good buys in Sydney but a bit over your price range. I am seeing a lot of investor activity in parts of Brisbane close to the CBD however they are slightly negative to neutral geared. There are also some good geared properties in VIC – a few of the investors on the forum have recently purchased in Cranbourne due to the strong…[Read more]

Hi Rachel,

You need to worry about the rainwater tanks prior to building. If its above ground then thats generally fine (although the excavator may need to create a level if applicable for the tanks to sit on) however if its underground then its cheaper for the excavation to dig up the hole when he is excavating the rest of the site. Do this…[Read more]

There is at least one lender that has a no age policy specific to investment properties (instead of PPORs). If the age and asset position is an issue then that lender may be appropriate. 

Seek finance first to ensure that you can do the renovations that you want to do. I would also consider giving the PM a flick. Not sure how much value they can…[Read more]

Its not that black and white and it depends on a number of things. I have done a few under resi and 2 under commercial. Many banks will not accept boarding houses as satisfactory security so you would need to go with a specialised lender.

Also what about the rainwater tanks? Are they above ground or in ground?

1. Stormwater and drainage
2. Water and Sewer
3. Electricity
4. Fencing
5. Driveway

You may be able to do the driveway earlier if the access to the block can be from another side.

Depends on the many factors including the location of the property. I would suggest that you map out what renovations you are considering to do including materials used. Then take this to a few agents and get their take on what works in the area. For example, the market in the area I live in dictates that only timber flooring is suitable however I…[Read more]

There are a lot of pros with commercial properties however based on the information (albeit limited) I don't think a commercial property would suit you more than a resi property. Your age is a sweet spot for SMSF purchase however you need to understand the limitations associated with the purchase.

If you are looking for a positive geared property…[Read more]

Make sure you deal with an Accountant you has experience with SMSF loans. You will be surprised that there are many that don't know what entities need to be created for an SMSF. The same applies for a mortgage broker or banker.

Make sure all the limitations, restrictions and costs are explained to you before you take the plunge as they do vary…[Read more]

Hi Lisa,

$225 for a Pest Inspection Report is Standard but that Standard is a professional 20 page report detailing risks, recommended solutions, identified problems, ratings, etc.  

Having said all that what was the outcome? Do you have termite damage? 

Regards

Shahin

It really depends on your future strategy – i.e. how long before you want to again purchase another property? Do you have an aggressive IP purchase strategy? The answer to this question will dictate how much equity you should use.

If your property is worth $520k (btw its worthwhile doing an upfront valuation to determine the value so that your…[Read more]

Wait a second – did I read it correctly the pest inspection report was 'handwritten'? I cannot believe that? Have you reported them to the department of fair trading?

Lot of questions but the first one is – has the Architect given you a fixed cost for the DA? To be honest I don't think an Architect is the best person to manage the DA process. Also do you have a list of costs that you have factored already? Members of the forum can plug in items which you may have missed.