Hey dazz,
I must have been out of my mind when I said 200k passive income in 15y, realistically with 60k passive p.a. in today's dollars and working just a few months a year it would be ok.
Speculating and obviously not very objective as I just bought there, Balga tenants won't be too bad in a few years IMO, "economy dictates", might be young double income families, skilled migrants, etc.
MTR,
Bit of an oversupply in villas/units now turning around 390 p.w. average maybe?
Reaching vacancy rate at 4% maybe, still not 6 though.
Interest rates will go higher IMO hence less FHB activity, pushing rents up.
New FHOG threshold will target that product too hopefully.
Big blocks are still rising, speculating they might be 550k in a coupla years.
End value around 400k at the moment. I will need to beef up the specs to keep up with the competition, some are 430/450.
If only that pricefinder login was still available I could have had a deeper look
Balga is close to CBD, light rail project hopefully done in 2022.
Had a look around and all the other suburbs I looked at are higher entry (noranda, kiara, etc) and some are not rezoned yet.
Understood re design, I'll go down your way too.
I might just do 2 units modern style and keep one traditional.
Anyway I jumped in the market so I realized my first objective, pretty happy with that and time will tell if I was wrong!
If I can finish that project within the next 5 years, get my DA quick and hold on a bit then build, then I'd go small commercial IP and a few shares I suppose.
But I think I'm gonna like development if I don't sink with mine
On another note, got quotes from a coupla PMs, got 8.8% for actual dwelling then 7.7 for 3 units, another one 9.35% for actual and 8.7% for units, amazingly after a 1y simulation with all their respective associated fees it turned out to be a coupla hundreds different
Had a coupla quotes for design plans to go through DA, range is mid 5000s, does that sound correct?
Kinda want to do a CAD draft myself then submit to a pro to check it for a lower fee, not sure if that's possible.