Building to Invest

Thanks mate - that's the place we're moving to in 2 weeks

Your comments about strategy and keeping it loose strike a chord. Unfortunately my real job is the bread winner at the moment, but doing exactly what you're doing would be my ideal lifestyle (well, job ) .

We decided to limit attention to properties with high land content, grabbing every bit of spare equity available to invest in something while waiting for the next opportunity, and trying to build/renovate things we would be happy to live in and be proud of. And in the middle of this supposed strategy of sorts, we decided to spend on a PPOR we can't really afford, following the 'life's too short' concept We're probably a bit too 'herbal' for anything seriously capitalist, but would rather die laughing about what we forgot than obessessing about remembering it

I have no doubt my laissez faire attitude to everything will bite me on the proverbial, but it suits me for now ;-)

Please keep posting more motivational stories mate - bloody great work !

Cheers
Carl

 

If you get time to add some to the gallery Kevin, that'd be cool - http://www.invested.com.au/gallery/ and click "upload" ;-) - bet you have some good before and afters

 

Nah...kudos to you Carl for that attitude.
Life IS too short ... and this journey has to be enjoyed otherwise it just becomes a chore.

Will post more pics as things progress.
Next hurdle is to get the website up and running in the next two weeks.

KEvin

 

This is an amazing and inspirational thread and I just love hearing about success stories from ordinary people who've gone out there and made it happen!

Kev, I hear Mt Isa is rocking along nicely and rents are amazingly high- have a colleague who's done extraordinarily well out of the building turnkey game himself and is taking advantage (as you would) of the boom situation.

Have to ask, though, how long did it take you to find a trustworthy builder/project manager in each area and be able to remotely manage such projects?
I admire your energy and drive Awesome stuff!!!

 

Jacque,
I'm a lazy bugger !!

I'm lucky to work with motivated people who in turn motivate me to pull my finger out and get on with it..

Mt Isa baffles me.
You're battling to get a seat on the plane up, you can't get a hire car once you arrive, the place is busy, busy, busy, and yet their is reticence to buy blocks at auction at what I wold consider to be near 'bargains' in the best and most exclusive new subdivision in town.
Its exclusive because its the only new subdivision in 10 years, and the only one with underground power, etc.
It becomes exclusive by default.
And yet all the agents are screaming out for rentals and places to list for sale.
There are no new houses in town, and once again by default, anything new and modern will command a premium.

Problem I guess is the builder problem.
It was important for us to solve that before buying up there, and that is the key in my opinion.
Control the builder ( work with him ) and you're on a winner.

I fearI have hijacked this thread by blade, so maybe i should revert to another one...

Kevin

 

Kevin don't worry about the hijacking, I asked a question and you have provided much great information that is based on experience, something I consider very important to further my learning.

Well I looked at a few blocks of land and a couple of display homes. 2 blocks seems quite good especially since the developer is going to level the pad for the house for nothing and has dropped the price to nearly the same as a block 150m2 less in size. Other bargin is it has 2 sides already fenced and one side is against a can't be built on so only one lot of neighbours.

As I have said looked at a few display homes. One caught my eye but I think it was more of a house that I would build for me not just a nice one to rent out. So i have to work out what is only needed. Some builders are charging a fortune compared to others and their quality of work does not seem to justify the extra expense. So i'm still researching the builders some more and looking for others.

Glenn

 

Hi Kevin

I PM'ed you about the website.
Cheers
Carl

 

Thanks Carl
Have replied ....and appreciate your comments.

Blade,
I hear that most builders can't complete with the Coral Homes, and GJ Gardners of this world.
Coral, I believe had a South Ridge package as set up by the marketing agent as a house and land package that was very attractive (the package, not the lady....but shes nice too....)

THis may be the cause for the difference in prices.

I know our buildr have told us straight out that they can't compete with those large spec builders, hence their need to find a niche where they are competitive.

Sounds like things are slowing down by your comments, if the developers are willing to lower prices and throw in incentives.
Good time for buyers to jump in maybe ???

Kevin

 

On my comment about the builders price difference, I was referring more to the larger companies not the smaller guys. I understand that they simply can't match the bulk buying and other powers that these big companies gain from their size.

There was a couple of house and land packages floating around out there yesterday. I looked at one of the builders website last night and was quite interested in some of the house designs. I'm going to look further into them.

It may be an indication that the market is slowing with those 2 blocks but I think it may be more of a perception about the blocks. Not sure alot of people would have thought through the benifits of their positions. Because when stage 4 opens they will be alot more blocks sitting beside the boundary in the same manner but will be exposed to more of the going ons from the nextdoor property. The 2 i looked are will have very little effect from the neighbour.

To me buying both of them would seem like a good idea. Then you could set up both house designs to work into each other and get the best layout. I guess i'll keep reasearching and further plan.

glenn