how to make $110k 12mths without quitting my day job

the footings 'allowance' was originally $17,500 for this design and that went up to $24,500 once engineered- so yeah a hefty hike
 
So $55,000 cash return for 4 weeks of my labour and 12 months of waiting patiently isn't so bad (others might have loftier expectations but I'll be happy) All of the subdivision can be done using phone, email, fax while I'm on my tea breaks at work. I still have never met the surveyor that did my last subdivision face to face, but he has a nice voice...
I started reading this thread and stopped at this comment. Erica, you are my idol.

I'm single income family and I've had serious stability issues with m work, but that aside, what you are doing is EXACTLY why I keep saying to other people (and to myself).

I say to them, the question is not why are you doing it (investments such as yours), but the question is why are you NOT doing it!!

I advocate a simple message to my friends and family; "keep your job, make sure its a stable job, and then borrow as much as you can" ...

I'll continue reading your thread and hope it all goes well. I'm currently doing a similar project and your titles is pretty much what I was saying to people - bad case scenario, its takes longer then 12 months, worst case scenario, eg have issues with plans, sell up and break even.
 
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Ahhh, but hindsight is such a wonderfull thing...

If you had bought a $600k median property in Sydney in 2004 your investment would still be worth only $600k 5 yrs later in 2009 (0% capital gain).

But had you bought a $300k median property in Adelaide in 2004 it would have been worth $100k more in 2009 (33% capital gain).
I'm loving this thread and your mentality.

The above is PERFECTLY SAID! The above is an investory relying on OTHER PEOPLE (the market) to make your gains and it may not happen.

What you are doing here Erica is ADDING VALUE ...and over the span of the project your end product sale estimation may actually be 10% more if the market rises. Nevertheless I always love the approach of rolling up the sleeves and adding value, as you are in control a lot more than just relying on the market.
 
Have that property saved, good luck for it going at that price if all stacks up (haven't done any DD). Price looks extremely low, will be 100+ at the auction.
 
Have that property saved, good luck for it going at that price if all stacks up (haven't done any DD). Price looks extremely low, will be 100+ at the auction.
Based on the development plan of Marion, semi-detached allotment should have minimum requirements as follow :

Minimum site area : 320
minimum frontage :9
Minimum Depth :20

but this property met minimum site area and frontage but not for depth since minimum depth should be 20 but this one is 17m?

Am I missing sth or this site is not suitable for subdivision :(
 
but this property met minimum site area and frontage but not for depth since minimum depth should be 20 but this one is 17m?
It would be non complying,not the end of the world,but council will make you jump through more hoops than normal, this is where a good surveyor earns his money!!
 
but this property met minimum site area and frontage but not for depth since minimum depth should be 20 but this one is 17m?
It would be non complying,not the end of the world,but council will make you jump through more hoops than normal, this is where a good surveyor earns his money!!
 
update on my project if anyone interested

I've made another embarrassing mistake, gotta laugh though, my projects are full of them.

I was just waiting patiently for council to approve my subdivision, thought I had it all under control when I get an email asking where is the application for the construction of the carport for existing dwelling?

What I ask? I didn't need to provide a carport for my last subdivision (just 2 offstreet car parking spaces). Ooops, I just assumed what one council allows (Onkaparinga for the last one) is the same across all councils (Marion this one), so chalk another error up to inexperience.

I should have put 2 and 2 together really- my designer draw in a carport to the existing dwelling on the plans- but I just assumed I only had to prove one could fit there, and not actually build it myself (inward groan and palm of hand collides firmly with forehead!).

So Marion Council won't sign off on my subdivision until they have an application for new carport, have approved it, it is constructed, then construction checked off by council, I'm guessing this will add another 10-12weeks to the hold time and maybe $5,000 depending on what my builders quote comes back for, plus I'll need to offer the tenants a sweetener to allow me to make a mess of their back yard- I'm thinking offering free rent for the week(s) my builder is putting it up.
 
congrats on admitting your mistakes and being light hearted about it ;)
thanks TMNT, I decided when starting this thread- to be totally honest and just show everyone the ups downs and challenges that pop up along the way, hopefully others will find it useful
 
thanks TMNT, I decided when starting this thread- to be totally honest and just show everyone the ups downs and challenges that pop up along the way, hopefully others will find it useful
it takes a strong person to admit their mistakes especially after your initial confidence , and I commend and respect you for it

kudos from me
 
Happy dance, just received notice of Marion Council Planning Consent being Granted, yay, I have subdivision go ahead, the slip up by not lodging the carport plans earlier just added 2 months onto the process :eek: never mind, only small potatoes.

9 months down.

Just got to get this carport up
pay for the sewer main extension
pay for the new water meter
pay the open space fee
get the block scraped clear
and put up a for sale sign and find a buyer!

I recon another 3 mths to go until all finalised and new titles in hand (or the banks hands rather :p).

So I'm on track to hit my target of 12mths to completion.

Felling pretty good right about now, think I'll head home and crack a nice red wine on a cold night like tonight.

See ya's
 
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