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    Re: the subdivision aspect. Talk to council or a town planner about whether a subdivision is feasible first. Some councils will tell you y/n based on the zone and land size, others won't if you don't already own it.

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    Quote Originally Posted by Heids89 View Post
    Re: the subdivision aspect. Talk to council or a town planner about whether a subdivision is feasible first. Some councils will tell you y/n based on the zone and land size, others won't if you don't already own it.
    This council will only refer you to their development plan. Under that each block would be 7.5 square meters too small and frontage 1meter too narrow, so technically it doesn't meet requirements, but it just depends how strict they want to be. To the letter of the law it's a no, but what's 7.5 square meters and 1 meter from at between friends!?

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    Quote Originally Posted by A-Squared View Post
    This council will only refer you to their development plan. Under that each block would be 7.5 square meters too small and frontage 1meter too narrow, so technically it doesn't meet requirements, but it just depends how strict they want to be. To the letter of the law it's a no, but what's 7.5 square meters and 1 meter from at between friends!?
    You'd be surprised how strict some councils are. But, if there is a precedent in the area to allow on smaller lots and you get a good town planner, then you'll probably be fine.

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    We have decided to offer $300k for the property/land.

    If worse case scenario is we can't subdivide and could only demo + knock down / build 1, we could be all in for $520k(ish) and hold it for a few years and sell for around $600 in 2/3 years time.

  5. #15
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    good luck

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    We offered $300k and didn't get it. Someone offered within the range. Good luck to them I say.

    We crunched our numbers again and even $300k was generous for what it was.

    It's the third property we have missed out on now. I guess that's what happens when you have no emotion involved. Another opportunity will present itself I'm sure!

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  9. #17
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    there will be more opportunities.

    as an investment, you need to just do the numbers and offer within what that tells you. Keeping emotions out.

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    Quote Originally Posted by BH-KatiesMum View Post
    there will be more opportunities.

    as an investment, you need to just do the numbers and offer within what that tells you. Keeping emotions out.
    A new opportunity has come up already and it's not auction or best offers by. I just crunched the numbers and I think we are in with a chance! It's open tomorrow. I can't wait to see it!

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  12. #19
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    good luck

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    They've decided to do best offers by Monday now! Gah!


 

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