Recent content by poordeveloper

  1. P

    Is there potential to develop ?

    What council and what zone for these blocks?
  2. P

    Thoughts on this property

    Lol! I have no idea why. Maybe simple is your thing? :D Not many. That's why financial investments are generally not simple. They require rigorous research and planning. That's the opposite of simple ("complex"). Yes he did. And he said it would then be an IP.
  3. P

    Thoughts on this property

    Sorry, wasn't suggesting that this particular property on Melbourne Rd was suitable. Just pointing out the foolishness of applying blanket rules about not buying corner properties/on main roads. Each property/investment needs to be evaluated on it's individual merit.
  4. P

    Thoughts on this property

    ... which are complete nonsense! Drive around Melbourne's inner and middle ring suburbs and look where the 4 to 6 story apartments are being built. Hint, more often than not, they're not in quiet back streets. There would be plenty of happy people who bought houses on main roads 15 years ago!
  5. P

    Thoughts on this property

    I've bought several IP's on main roads. Advantages: More likely to be permitted for alternative purposes (note there is a chiropractic clinic a few doors from the property you listed) More likely to get approval for redevelopment (units/townhouses) More likely to benefit from rezoning...
  6. P

    Converting a shed into a teenagers retreat

    Check out the forums over at garagejournal.com for some great inspiration on sheds/garages. They'll have lots of tips for insulating and fitting out your shed conversion.
  7. P

    Mail outs to avoid agents

    I don't think you've got much to lose. I've done letter box drops in areas where I'm interested in purchasing and I've had a couple of people contact me as a result. They didn't lead to purchases in the end but that's unrelated.
  8. P

    The Next Project Reno

    Your plan sounds pretty reasonable to me. Wouldn't mind doing this for a country house in the future. I'm very keen to see the pictures, particularly of the cut and move. Please PM a link when they're available!
  9. P

    Make Offer on Business Opportunity

    If the manager has been in charge while net profit has dropped from $66K to $10K over two years, I wouldn't be keeping them around for too long! :D
  10. P

    High Yielding Shares Again

    Existing shareholders get 2 rights per 25 shares that they hold. These are tradable under the ticker 'NABR'. So existing shareholders have two realistic options: 1. Fork out $28.50 to buy additional shares. 2. Sell the rights for around $5.85 each (gone down today) I chose the latter.
  11. P

    High Yielding Shares Again

    The rights (NABR) are currently trading for $6.25 so if you take up the offer you're essentially paying $28.50+$6.25 = $34.75. And NAB is trading at that price this morning. I'm bearish on the banks so I just offloaded the rights.
  12. P

    Should I use a Buyer's Agent?

    This thread should have been titled "Please help me feel better about using a buyers agent". :)
  13. P

    Should I use a Buyer's Agent?

    I'm also strongly in the "NO" camp. Particularly for a first IP. My points: 1. There is no substitute for doing your own research. OK, there are certain (limited) situations where I could see a BA might add value but having them tell me which areas to buy in NOT one of them. If you don't...
  14. P

    Independent Valuation Issues

    Quick side question related to the OP's situation: how does the valuer know the specific details of the auction (i.e.: how many bidders, bid history)?
  15. P

    If you were PM.

    Few random ideas: 1. Generous, widely-publicised tax incentives for foreign businesses looking to setup in Australia and employ locals. e.g.: large tax concessions for 10+ years 2. Large reduction in corporate taxes for small to medium businesses. Review and simplify current tax system...
Top