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Hi All, Im keen on doing a 3 unit development in the eastern suburbs of Melbourne and cannot seem to make the number stack up. Im have been looking in Clayton, Clayton South, Oakleigh East areas as the entry price is in my range, $600-$750K but cannot find anything. Done anyone have any...

Thanks csc2, really appreciate your input

Thanks csc2, sounds like solid advise. I am very new to the game and was of this opinion, but was advised by a friend who has done serveral develoments that if the development is small then a good draftsman is all you need. At the end of the day Im sure it comes done to finding the right...

Hi All, I am going to be embarking on my first, hopefully of many, developments in the Melbourne eastern suburb of Ashwood. My first step is to enlist the help of a good draftsman or architect. I’m looking for the name of a good draftsman who can assist with small dual occ. Any help...

Pete, By far the best choice, not to buy the apartment. My wife and I were in the same situation 2.5 years ago and we now have a 2BR apartment that, if I sole today, will realise a $150K loss. One hell of a lesson to learn and I just wish I had have asked this forum the question before I...

Hi poordeveloper, I have done plastering work before and it’s not hard just fiddly and takes time to get it right. The professionals do it quicker and don’t end up costing a huge amount. I would think in your case replacing the roof would be a better longer term option. An option...

Hi akumaslair, I too am in the early stages of looking at property development. I think the most import thing is reserch and talking to as many people as you can to formulate your plan. As I have found there are many ways to add value and its a matter of deciding what fits your needs. I am...

Yeh, I have always wondered why these guys that are sooo? successful feel the need to start offering this kind of service. Are they really that successful and genuinely want to spread the love? I would love to know more about property development but this may not be the way.

Hi, Has anyone had any experiece with this guy and the workshop he does? http://www.realestatedevelopmentcoach.com/australia_workshop.html Thanks !!

I appreciate that in order to get a true picture of the market value of the apartment would be to widen our horizon but if we wanted to sell today, what we can get would be what people are paying today for apartments in this block. No I also don’t really think there was any collusion...

Thanks BH for you hard cold sumation of the situation. The lender is Macquarie and the only security for this loan is the investment in question. We have not had a valuation done on the property but past sales in the block have given us a clear indication of the present market value...

The figure that we have of $300K is based on a very simluar property in the same block that is currently on the market. Also we have spoken to several realestate agents and the best I hve got is low 300's. The developer was Bensons.

Looking for some advice on what if any recourse we have with an investment property that we purchase June last year. The apartment was from one of the major property developers. Stupidly we paid $410K for a newly built 2 BR apartment in East Brunswick. The apartment is not worth approximately...