Recent content by pjvdl

I've got a couple of share houses in Adelaide. SA is the same as Vic. More than 4 separate tenancies and it classes as a "rooming house", ... with all the associated regulations and compliance.

I am in the middle of a 6 townhouse development in Adelaide at the moment (3 x 200m2, double storey and 3 x 150m2 single storey). Final contract prices on the houses ended up being around $1000/m2 for the basic house (regardless of single/double) and around $1300/m2 including all the extras...

I'm sure I've seen someone mention a group of Adelaide investors that already meet in this forum somewhere, but I can't find the reference anywhere. Gools may have been the one who mentioned it.

Wouldn't that be 75k :D I assume that you are working from the premise that you already own the property as your PPOR? If not, and I was treating it as a buy and sell development, I would also be including purchase costs and holding costs (interest). That would likely give you a very...

Not really. I have other IPs which are working well (cash flow +ve), that I am planning to keep long term as a buy and hold strategy. One of the main drivers for doing a development rather than purchasing more buy and hold properties, is that I would like a relatively quick turn around to pay...

I am going through this process in Adelaide (Marion council) for the first time at the moment. The steps I have taken so far: Buy land :p Find a builder - Aug 09 - Nov 09. It took a while. I had concept plans which I asked builders to quote on, as off-the-shelf plans wouldn't work with the...

I would also be keen to find out if there are any groups in Adelaide. Maybe we could make a group of 2 ;)

Yup, 30% would be nice :cool: My 20% projected profit is excluding CG and assumes all of my 5% contingency is spent. This 5% may be a little low, but I am comfortable that I have got most of my costs nailed at this point. I think the only way I'm going to get close to 30% is if the market...

Why do you say that? Admittedly I am completely new to this, but when I say that I need to fund 80% of the cost of my project, I am not saying that the construction will cost 80% of the final value. I am saying that I want to fund ALL of my costs, which I have calculated to be 80% of the final...

If only construction was underway :( I now have subdivision planning approval and construction planning approval. Demolition is underway so that I can get the new lots pegged and finalise the subdivision paperwork ready for submission to the DAC. Ironically, it isn't the subdivision...

I needed to make the same decision last winter. I have a couple of IPs that I have set up as share accommodation. One of them is an seven bedroom house with 1 bedroom granny flat and inground, solar heated pool. Our contract with the tenants is that we pay all utilities, including the first...

Thanks for the support Gools. I have previously posted a few other details relating to the same project in http://www.somersoft.com/forums/showthread.php?t=59550, but will endeavor to keep the forum posted :p as the project evolves. I have signed a preliminary services agreement with...

Hi, Great thread. I'm just embarking on a 6 townhouse develop about 5km SW of the Adelaide CBD, so it is of real interest to me. I would second the view on pushing the limits. I am pushing coverage and setback limits, and as a consequence the council planning has taken a while, but I feel...

Well, they have told me they will. I have been dealing with the same "Relationship Manager" (where do they come up with these names) for a number of years and have always found her information to be reliable, so I have not reason to believe they wont. Having said that, I haven't formally applied...

Damn, your reply prompted me to phone to my bank for clarification and you are (at least partially) correct. As background, my bank has confirmed that I can finance this project as a residential project even though I am building 6 residences (this is because they are on two titles, giving...