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At those prices I'd expect an MP3 of what it sounds like. What sort of property are you looking to buy?

Completely Off Topic Telejazzer, your username and avatar suggest you might be interested in this product. http://www.ebay.com.au/itm/261237759754?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1586.l2649

Of course. I do appreciate your advice. The GST and the contingency suggestions were vital components of my plan that I didn't know about.

As I said to Jim1964, I only took the agent's word as a rough guide.

No, no, I didn't believe it enough to put money on it! Just enough to incorporate it into my cash flow projection. If I was really serious about the plan I'd double check it with the council.

Revised Plan After having my ideas pummeled and battered, I've revised the costings on the project at 16 Adelaide Rd. You can see it here: http://andrewscottmusic.com/downloads/property/16-Adelaide-Rd-Business-Plan.xls During the revision I gained a bit more compassion for Wayne Swan. The...

$50K for a driveway? I doubt it. The land's pretty flat and I calculated the driveway at 400 sq m. As for the other costs, sure, I could be under. I would get firm quotes before I signed anything. I just wanted to see if I was in the ball park with a workable plan.

Hmm. I thought I was being vague.. Good thing I wasn't serious about this place.

Fair enough. It reminds me of the old repairer's statement - "We don't know what we;re going to find until we take it apart."

I'm not sure about the heritage value of the building. An offhand remark by the agent gave me the impression that the council would favorably consider a plan for demolition and subdivision into 4. The stream is about 2m below land level. The land is flat, and there's a flood prevention...

Doesn't the trench digger's quote hold firm, regardless of contingencies? However, if the trench digger is also the developer.....

Ouch. Is that when you felt uncomfortable? "When things go wrong or are delayed, it is harder to advise someone else, than it would be to simply deal with it yourself. Would you like to share details?

This property yes, but I'm only just beginning the game, and will apply what you people are teaching me to future opportunities.

OK A cost blowout - Written quotes tend to reduce the likelihood of this Unexpected expense - you and other forum members are alerting me to these. Sales values drop during the project - who can control this? Besides, my sales values are very conservative. Timeframes blowout - This would add...

The publicly offered property at 16 Adelaide Rd is a dry run of my appraisal and analysis skills. If someone beats me to it I won't have lost anything because this process of discussion is teaching me skills that i can apply to my next project, which will probably be a property that is not...

BINGO! How did you find it?

I have an significant amount of cash. Just enough to pay solicitors and a bit of advertising. Serviceability ? if you mean my ability to repay debt, I don't want to go there.

Thanks for the video links. I'll check them out.

What one person considers to be a moderate level of risk, another may consider to be extreme. And a 3rd person may consider the risk to be negligible.

The reason I have asked this forum's opinions is to learn about pitfalls through the experience of others, rather than myself. In this way, adversity can be averted, or at least, budgeted for.