G'day

Hi all,

Former Somersoft user (have not been on there for a year or so) and have been browsing PC for the last couple of weeks.

Currently have 2 IPs and have gone a bit stale over the last few years but keen to get a decent plan together and get agressive on building property wealth! Keen to do a couple of 'add value' projects and try to have a crack at some very straight forward development projects. Hopefully thats the path forward.

Time to get the plan, develop the team and get to work!

Cheers ardi

 

Welcome aboard the P Chat train

Cheers

Jamie

 

Howdy @Ardi. What would you consider a straightforward development project? Sub divisions, extensions etc?

 

Thanks @Steven Ryan ryan Not having any experience with developments. Ideally I would like to start off with buying a couple of existing properties where i can split the block, build, sell the original house and hold the new. I think if i could get a tase for this type it would be a little less risk and a good way of learning and gaining the knowledge to take on some larger developments. Obviously open to any other ideas that people have.

 

Nice one @Ardi. You'll find lots of people here who have experience with all level of development so ask around . There's plenty to be made with kind of strategy.

I it's a fair idea to start "small" to dip your toes before you go for a swim.

 

Gday Ardi, good stuff. Where abouts are your current IP's?
Where will you be looking in the future?

 

Both are in Cameron Park NSW. Could have probably done better but was fairly ill informed. On the upside both are positive, CG i think will be a little limited due to the amount of land being released.
Next ones...anywhere i can afford! But maybe regional nsw as it should be positive and hope to add equity through reno or subdivision.

 

Hey Ardi, sounds like you have done well. Congrats.

 

Cheers @Chilliblue, still a long way to go until the goals are met. But it won't happen by itself.

 

Any chance that you can give a quick update on Orange - sales and leasing etc

 

Never heard of it! Well I have now. Pretty much Newcastle?
Is it all picking up there with the ripple effect from Sydney?

 

Mate i haven't been in Orange for too long but my thoughts so far are:

Market is very flat and will be for a little while yet. Lack of confidence due to the downturn in mining and Electrolux closing. Alothough i dont see it being all thats bad. Seems to be a huge amount going into medical and nursing homes.
There is a lot of crap on the market, ex housing commission etc. Same goes for rentals. Definitely some areas of town to avoid. I rented a place for 6 months when i moved to town and found it hard to get something that was 'nice'. Lots of land being released in both north orange and new areas of the south. Seems as quick as it is cleared houses are popping up, potential of oversupply of the 4b2b cookie cutter houses. Some really nice old houses closer to the centre of town for reasonable prices.

Lots of old money around town and seems to be a fair amount of people moving from Sydney. I think the higher end of the market will keep moving in Orange although slowly. BREEDING! Seems in the cold weather people are 'keeping warm' , everyone seems to be pumping the kids out.

3 hours to syd and a train line going through town and a fair amount of private/ boarding schools.

Let me know if there is anything else!

 

Thanks. Have a IP in Calare and your thoughts are similar to mine.