• Locating and investigating a potential development site
• Confirming the current title, area and zoning regulations
• Inspecting the site, vicinity and local amenities
• Presenting the site to you for approval
• Negotiating on your behalf to purchase the site
• Obtaining development approval
• Overseeing construction
• Selling or renting the finished product

Very interesting business model.  It seems that their services start(?) from around 50k.

Technorati Tags: property development, subdivision

They started out with really dated wooden kitchen cabinetry and laminex countertop.

Solution?  Cut the countertops to be square, put on 3mm granite veneer ($3000), then replace the cupboard doors and facing with white custom cabinet doors and facing ($2000).

Apparently with extras, the total cost of the makeover was under $7000.

Before

After

Technorati Tags: custom cabinet doors, granite veneer, kitchen renovation cost

The requirement would apply when they sell or lease a property.”

Shot50 © by University of Salford

With 6 star energy ratings being compulsory for new houses in every state now, energy rating etc. has got to be the wave of the future.

I’m thinking about whether it’s worthwhile preparing energy reports for new tenants before the changes come in, just to provide a little bit of a comparative advantage.

If the property owner can demonstrate cost savings in heating and cooling bills, then this has to result in higher potential rents.

Technorati Tags: energy ratings, government requirements, maximise rental income

1.  Use a buyer’s agent
They will advocate on your behalf and it only takes a small growth in value to justify the fees. Buyer’s agents can let you know if the market in a certain area has recovered, as they have a more in-depth knowledge of the property market.

2. Consider using the equity in property you already own
This is a tried and true method of financing. Just make sure you can afford the repayments

3. Think about buying with friends, family or a group of co-workers
This way you have much less chance of making an impulsive buy, and securing a property that is within your budget.

4. Choose an area with a low vacancy rate
Research the vacancy rates in the area. Anything above 3% is cause for concern.

5. Stay away from foreclosures unless you know what you are doing. 
Buying foreclosures has a high degree of risk, as it is often impossible to do inspections of the property and you may be buying more outstanding liens than you bargained for.

6. Calculate all costs involved
Make sure you factor in all agent fees, inspection costs, taxes, maintenance costs as well as a buffer for periods of vacancies.

7. Above all, buy in a “recovering” area
Just as in the stock market, it is impossible to pick the bottom of the recent market collapse. Purchase a property in an area that has started to increase in value and number of sales, where average days listed before sale is on the decrease.

Technorati Tags: buyer's agent, calculate costs, foreclosures, recovering market, vacancy rates

Many people who’d like to get an investment property worry about saving for a high deposit. Even in the United States, this may not be necessary as long as you can afford to make the repayments. Alternative loan products, even low doc loans, are starting to re-emerge. Australia has also become a hot housing market as it is one of the few economies to have survived and flourished during the financial crisis. There, you can take out LMI insurance on your mortgage if you don’t have the required deposit.

No matter where you invest, having a good rental income (especially if you’re lucky enough to have a positive cash flow property) can really help supplement the income of people saving for their first home or just trying to get by to build equity and make some pocket change.

However, long-term, capital growth is the key for wealth building. If you pick an area where property has been growing over the last few years and continues to grow at a reasonable rate, you are almost assured of a good return.

“Location, location, location” is the oft repeated mantra for a very good reason. Location is the most important factor when choosing a rental property.

How do you pick the location? Well, there are some great rules of thumb:

1. Choose an area which will undergo infrastructure development. You can find this out from local authorities, aswell as looking around the area for holes being sunk in the ground!

2. Keep an eye on school rankings.Families buying a home wants to make sure that their children receive a quality education so, if a school gets a good rating in the area then families will want to move to the area.

3. Transport is a cliche in real estate, but it is vitally important. Values genuinely do reflect proximity to bus routes and train stations.

But the jury is out on whether or not you should be in the inner-city, depending on what country you’re in. In the UK and Australia it is more likely that urban regeneration projects are taking place in the inner-city. However, in the United States, we have the doughnut effect where inner cities are “gutted” as the middle classes move to the suburbs.

Choosing a rental property really depends on the demographics and infrastructure of your city but, as the Chinese proverb goes:

The best time to plant a tree was 10 years ago. The second best time is now.

Technorati Tags: deposit, inner-city, location, mortgage, rental income, Residential investment property