Inside Running

[helen]

Hi Everyone,

I am intrigued. I have been looking back over a number of threads (last 18 months) and I am amazed at some of the posts. It seems that a number of Forumites seem to have a sixth sense -- they know where to invest before an area takes off. How do you do this. Does someone tap you on the shoulder with a nod and a wink Have you been watching an area for some time (maybe a year or two) noting infrastructure going in before you make an investment decision. What propels you to an area which is yet to take off -- particularly if you live in a different state, how do you get the inside running on that next hot spot Is it contacts, skill, reading all the right journals, checking government or council websites OR WHAT!!! This obviously sets you apart from the average investor.

I have also noticed that some Forumites have purchased tracts of land before an area starts to boom. This seems to be a rather large risk -- how do you mitigate this risk. How do you know if the council will be amenable to your plans to subdivide etc. What other factors do you take into consideration? What experience or knowledge do you need before you embark on a subdivision.

It really would be great to hear from members who seem to have the "midas touch". You are truly inspirational and hopefully you will provide us lesser mortals with some insight.

 

[The Y-man]

One of our key formulas was to look only at suburbs that had shown high (10%+ ) median growth almost every year for the past 10 years. If it had done it for 10 years, chances were that it was going to do it again

Cheers,

The Y-man

 

[lizzie]

we've picked a city and looked at the social changes occuring - and hence buy in a major city/town with multiple industries, within the inner/middle ring (no large land releases to hold value down), within walking distance of fixed transport hubs (train stations) and walking distance to basic shops.

i also know the rules of the council lep and zoning applications inside out and upside down in the area, so i can spot a good buy (ie, subdividable) within seconds.

not so good to buy near bus routes, unless they are main road, because the routes get changed regularly.

 

[HandyAndy888]

Its a sixth sense.....wwhuuuuuuu (ghost sound)

I bought northside Brissie as I was keeping an eye on things up there...

 

[tubs]

I like Residex as a starting point.

 

[coolie21]

I like Residex as a starting point.

which sort of reports do you buy?

 

[Grego]

You could do worse than read Australian Property Investor Magazine. Has regular articles not only on areas that are doing well but regular "state by state" market segments that can be insightful

Greg

 

[tubs]

I go for the top 100 suburbs in the city I'm interested in for houses.

There are also reports on cheap houses, high yields, units etc. Depends on your strategy.

 

[Nuzdeano]

How do you find out these rules?

Quote from Lizzie's message "i also know the rules of the council lep and zoning applications inside out and upside down in the area, so i can spot a good buy (ie, subdividable) within seconds."


Lizzie, or anyone else who knows, how do you find out these zoning rules on subdivision ?

Is there a particular dept at each local council that can provide this info ?



Many thanks
Dean

 

[steveadl]

Quote from Lizzie's message "i also know the rules of the council lep and zoning applications inside out and upside down in the area, so i can spot a good buy (ie, subdividable) within seconds."


Lizzie, or anyone else who knows, how do you find out these zoning rules on subdivision ?

Is there a particular dept at each local council that can provide this info ?



Many thanks
Dean

Each Council has a planning dept. In my experience most of them are pretty helpful.

 

[Nuzdeano]

Thanks Steve

 

[lizzie]

In my experience most of them are pretty helpful.

ask for the duty officer and pick their brains - you may also have to buy the lep zoning map (ours cost around $40) which is a huge map of the council area showing all the zonings street by street.

and they are very very helpful. they'd much rather you ask questions and get it right before applying, than having to tango back and forth at a later date.