Hi Everyone, just introducing myself to the forum.
Been reading for quite some time and am now a member and quite keen to contribute.
A bit about me:
I am 23, married with a newborn. Entered the market in 2011 and built my own home in Byford WA for $310,000 with a present bank value of $430,000.
Recently have acquired an IP using EQ loan in Camillo (yes I know not a great area but feasible) which I plan to renovate, rent, subdivide and sell. House fit out is crap, block is 768m2 with side access zoned R15/25.
It will be interesting to see what the market does in the next few years but why wait and see. May as well start learning lessons now.. The way I look at things is that even if you break even on a venture, providing you have learnt valuable lessons, the outcome is positive.
I would be keen on hearing from others what to do and not to do in regards to retain and build type ventures. I have a few questions - any advise will be greatly appreciated!
- how much $ should I allow for subdivision costs?
- how exactly does capital gains tax work/where can I find this info?
- what are the generic/general conditions of pretty much all subdivisions?
- has anyone relocated solar panels before? (IP needs them relocated due to demolition of outbuilding)
Been reading for quite some time and am now a member and quite keen to contribute.
A bit about me:
I am 23, married with a newborn. Entered the market in 2011 and built my own home in Byford WA for $310,000 with a present bank value of $430,000.
Recently have acquired an IP using EQ loan in Camillo (yes I know not a great area but feasible) which I plan to renovate, rent, subdivide and sell. House fit out is crap, block is 768m2 with side access zoned R15/25.
It will be interesting to see what the market does in the next few years but why wait and see. May as well start learning lessons now.. The way I look at things is that even if you break even on a venture, providing you have learnt valuable lessons, the outcome is positive.
I would be keen on hearing from others what to do and not to do in regards to retain and build type ventures. I have a few questions - any advise will be greatly appreciated!
- how much $ should I allow for subdivision costs?
- how exactly does capital gains tax work/where can I find this info?
- what are the generic/general conditions of pretty much all subdivisions?
- has anyone relocated solar panels before? (IP needs them relocated due to demolition of outbuilding)