New format to Property Investment Update

[Michael Yardney]

We recently emailed the latest issue of our free Property Investment Update newsletter in a new format to subscribers.

I listened to the various comments made on this forum a few months ago about attachments and file size. It just took a few months to implement. I hope our readers find this format easier.

If due to the qwerks of modern technology you missed this issue or if you want to subscribe click here

http://www.metropole.com.au/html/Subscribe.htm[/URL]

or email [email protected] with your first name

It is the only property newsletter I know of written by someone who has invested in and traded property succsessfully for over 30 years

 

[fredo]

I have been getting your news letter and enjoy it

Is there any chance you could lock a a botique small development one bedders say 68sqm with balcony at 250K

In the right suburb I,m sure it would be a goer

say 20 units Thats 5 mill say 120K to build all up 2.4 mill
Land costs there would be plenty of interest

What would you say to a syndicate run by yourself Michael

Frado

 

[Fester]

Excellent new format Michael.

 

[Michael Yardney]

Originally posted by fredo
I have been getting your news letter and enjoy it

Is there any chance you could lock a a botique small development one bedders say 68sqm with balcony at 250K

In the right suburb I,m sure it would be a goer

say 20 units Thats 5 mill say 120K to build all up 2.4 mill
Land costs there would be plenty of interest

What would you say to a syndicate run by yourself Michael

Frado

Great suggestion
I'd love to put together a development like that. I understnd why you think it would be a great investment.

The problem is the sums do not stack up for that type of development at present.

The cost of land is too high then town planning requirements make it very dificult to make a block of only or mainly 1 bedroom units viable. You still need the same amount of balcony or private open space as bigger developments and you need similar amount of car spaces. If you have to allow for these you may as well build an extra room or 2 and get so much more as an end sale price.

One alternative is to secure an old block of apartments uilt under the old regulations and do them up properly. the will be as good or better than new.

We've done a few refurbishments over the years and they have been very successfull.

 

[michaelg]

Hi,

In Sydney I've heard of something called a Sepp 10 which indicates a building for the purpose of providing cheaper accomodation.

Would such a thing have allowances to reduce requirements such as car spaces etc?, I mean in theory if its for cheaper accomodation would car spaces be necessary?

Does such things exist in Vic?

Michael G

 

[Michael Yardney]

Originally posted by michaelg
Hi,

In Sydney I've heard of something called a Sepp 10 which indicates a building for the purpose of providing cheaper accomodation.

Would such a thing have allowances to reduce requirements such as car spaces etc?, I mean in theory if its for cheaper accomodation would car spaces be necessary?

Does such things exist in Vic?

Michael G

Michael
There is no such facility in Melbourne town planning regulations