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Hi all, I am about to start construction on my first development. It will be a 4 unit site. I would like to start familiarizing myself with an accounting system that will make it easier to keep a track of all my spending, invoices etc. rather than keeping a manual record which is what I am...

Hi All, I currently have a 4 unit development site for which I have approval and have just put on the market as OTP Sales. A potential buyer asked the agent if they knew "what portion of the overall purchase price to allocate to unit 4's land value?” My initial assumption was that if I...

Hi all, My Civil Engineer has requested that I locate the depth of the Stormwater Pipe in the easement running across the back of my site for which I am currently in the Town Planning process to develop into 4 units. Although the Civil Engineer has all the information from Council on the depth...

Hi All, I have a project that is currently going thru DA Approval. It is a 4 unit site in the S/E suburbs. My aim is to sell them OTP (Off The Plan). All the units are 2 beddas, with my target market being the elderly downsizer and also the investor. I believe that the Selling Process is...

Hi all, I am currently going through the Town Planning process to get a DA approval for a 4 unit site in the Eastern Suburbs Melbourne. Council will soon be sending out letters to the immediate neighbours informing them of the proposed development and also place an advert on the site of the...

Hi all, Trust you all had a great Festive Season!! I have completed dual occs in the past, and am now at a stage where I wish to develop larger sites. All the past project's financials I did manually by hand. I now feel I need to use a software accounting package to bring me up to speed...

Hi All, I am wanting to know if it is common practise for Brokers to ask for a % upfront commission of the total loan. I am currently looking for a development site to construct 3 units. I left work to pursue this full time. I have $440K in a high interest account and $240K in my PPOR...

Hi Everyone, Just thought I would get Somersofters opinions and experiences on selling OTP vs On Completion. Advantages and disadvantages. I am in the process of purchasing a development site and am trying to work out which method would get the better return. I have always been under the...

Hi all, I recently found a development site which fit my criteria and was in the process of doing some due diligence. I had the agent forward the Sec32 on which I found a Mortgage Encumbrance. Can someone elaborate on this and how will it affect the buyer? The property has been on the...

Hi all, I am cashed up and ready to purchase a development site and am wanting to know which will give the best long term benefits if I am to continue developing. Would it be buying the property cash and then borrowing for the construction loan later or borrow to purchase the site and also...

Hi all, I am cashed up and ready to purchase a development site and am wanting to know which will give the best long term benefits if I am to continue developing. Would it be buying the property cash and then borrowing for the construction loan later or borrow to purchase the site and also...

Hi All, It's been alittle while since I have come on this site. I have a burning question and would love your input. I own 2 units, one that I have a 50% stake with my brother. I need to sell both to purchase a block of land to develop in the future. The dilemma is that brother suggested...

Hi all, I have just been informed that the tenant in my rental property has handed the key in. Apparently she gave notice to the Managing Agent but since the woman incharge of the rentals was on leave for a month she was made unaware. And so today i received a call from her as she just got...

Hi all! Are there any specific documentation that Investors request as part of the purchasing process from the Counci,l before purchasing a property that may give them important information as part of their decision making process. Happy New Year Everyone!!!! Regards JCM

Hi all, Just been thru all the free programmes and software that members have contributed but could not find one to fit my criteria. What i am looking for is software/programme to project manage a purchase and renovation of an IP? What are some of the software that others use to keep track of...

Hi! I am wanting to know from other property investors whether they visit the local council of where they are intending to purchase a property, to find out information on the property? What sort of information can be obtain from the Council that is crucial when purchasing a property...

Hi all! Would be interested to know which would be the best and cheapest option (including installation) between a wall furnace heater or a split system (heat and aircon). It would be for a three bedroom house and it will probably be located in the lounge room. I understand that neither would...

Hi all! Could someone please enlighten me on what it costs to add an extra standard sized bedroom to a weatherboard or sheet clad dwelling? Is there a formula that can be applied or cost per square meter? Also should the roof on the extention built flat to save on costs of making a...

Hi all, Just wanting to know how to get involved with others that are making similar property investments to gain further knowledge and experience on the subject. It becomes somewhat frustrating at times, sourcing information and answers to questions on investing. Yes there is the web and...

I have never looked at a block of single storey flats or units as an IP. So Im alittle in the dark when it comes to hidden costs. I have seen some in the past that give reasonable yields of 7.5+, so it might be worth looking at in the future. Can anyone here shed some light or anyone here that...