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rja2439 in terms of your options you need to be clear on what you want to achieve. You raised a few 'risks' in your replies above which can all be dealt with. 1. sell to another party, no issue. Agent fee is 2-3% and they handle the process for you. Yes a cost but who is the expert at...

Prices and bank valuations are coming in short. Many people who bought off the plan 2 years ago are experiencing this with settlements for city/docklands/southbank apartments.

There are a lot of nice family suburbs in and around that area. You can try searching suburbs like Rowville (maybe a small place), scoresby, Wantirna South (again small house), Knoxfield, Bayswater and Heathmont. Realestate.com.au or Domain.com.au are your best resource to begin with then...

Thanks for the update Brendan. Shame on the slight reductions you've had to make but hey you've got to keep the council happy. Without them no approval. You're estimated equity gain is still pretty handy at around $150K so good job. Hope it all goes well through to completion and look...

Agree with you David. Im keen to add another property now. The longer the period of 'down time' in the market (eg. low growth) the greater chance of growth. Things dont stay down forever and will pick up in those markets that have missed out in the past 2-3 years.

Lucky for some unlucky for others. Dont think it really matters at the end of the day

good resource. Cheers

Hi Mindmaster, Just wondering with the amendments and slight changes you have made is your estimated profit still in check? Also more generally, are 3 unit sites such as this readily achievable in the market today with 600m2 blocks? Nathan

Good luck with it. Hopefully your plan comes to fruition

Nice work Oscar. Have enjoyed following this post. Nathan

where's the next stop Redwing?

If you are selling to a developer they will generally know the specifics of the suburb/area if they are looking there. Dont be scared of agents, they may have developer clients they can offer your property to without the need to advertise etc. In terms of websites Gumtree has a property for...

If you have a long term view then you will be fine. If you were confortable with the location and fundamentals when you purchased then dont stress. Only costing you $18 p/w is fine (the cashflow positive investors may disagree though).

I think one of the industry slogans is 'time in the market not timing the market'. Very hard to pick the peaks and troughs of the cycles but if you are in the market for the bulk of the upswing you will still do well.

It is pretty clear that the melbourne inner city apartment market is headed for (or currently in) oversupply. There are so many high rise apartment blocks coming on stream that the only way prices in these developments will go is to remain flat or show minimal growth at best for the next couple...

Hi Aaron, Photos look great. In the first post you mentioned estimated return on cost of 40% which would be a smashing result if you manage to achieve it. You are hoping to begin construction in 12 months (after planning approval). How are you dealing with holding costs in the interim until...

hey youngstarter, Are you wanting the inspections done for your own piece of mind? Presumably you are using a bank who will conduct progress inspections at each stage of the construction on your behalf.

Firstly congrats on your first purchase. Great start and something that will lead you onto bigger and better things. I think you're planned strategy is sound. If you believe that doing some minor work to this first property is going to increase the value then I would go ahead and do that...

It seems as if you have picked the property up for a good price, especially considering the prior asking price. What i would do is contact the council and have a general chat with them about their planning requirements for this kind of project. If successful it looks as if you will end up...