New Purchase over the weekend in Melbourne

Hi All,

Hope you have had a good weekend....

I bought the following property over the weekend: 6 Laming Road Deer Park Vic 3023 - http://www.realestate.com.au/property-house-vic-deer+park-119234875

Asking price was 330 to 360 and I picked it up for 320...
Meeting up with my drafter tomorrow as we are looking at building a unit at the back. This will be my 2nd development project this year.

There was another bid at 330 but the owner chose my offer for the following reason:
1) I left settlement blank and advised the agent that I am able to settle when ever it suits the vendor.
2) I am only borrowing 80% so less chance of the deal falling through due to a bank valuation "Etc".
3) Also I was prepared to let go of the property for even a dollar more :)

Will keep you all posted on the project
 
Nice one! House looks like it might need a bit of a freshen up though no?

What is involved with building a unit at the back of a property in Melbourne? What zoning is required?
 
Hi

Hello,

The property needs some TLC nothing to major and can do it over a weekend.

Building a unit or townhouse varies in each council area and believe it or not some are easier then the others.

Well I work with a drafter who know the brimbank area back to front and he knows what is required before we even get a permit. My business partner is a builder so i leave that part to him as well.

My job is to arrange the finance, find the property and make it happen.
 
I know nothin about VIC, In Brimbank council, do you need at least a car access handle to the rear build? From Google street it appears only 2m wide access..
Do you need parking space for rear build and can this car space be directly inform of existing dwelling?
Nice buy and well negotiated. the photos of improvement appears to be tenable as is.
 
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cool, can you put up the dimensions of hte block and position of hte house etc??? i am finding subdividable while being able to retain houses seemto be selling or demanding an unreasoble premium
 
Nice buy.

I've noticed quite a few going up around Billingham rd and surrounding streets and they seem to be selling fairly quickly. Good luck with it
 
cool, can you put up the dimensions of hte block and position of hte house etc??? i am finding subdividable while being able to retain houses seemto be selling or demanding an unreasoble premium
Once we have the plans "etc" I am more than happy to share with all of you no issue :).
 
Good buying.

I attended this auction on Saturday, which went for $371K!

73 Diamond Avenue Albanvale Vic 3021

I have an IP around the corner in Albanvale giving me a 5.8% yield, however land is only 530sqm, not for development. So I was surprised at the auction result.

You have bought something with dual occ potential as well, so well done.
 
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