Why do people seem to do more research into their next holiday than they do into their next property purchase? Knowledge is power One of the best ways to buy better is to ensure you know more than the agent, but never let them know that. Research
Today we are using: – RPData – Council Infrastructure Maps (bimap) – Council Planning Scheme – Our A-Team – On Site Investigations
Research Case Study
Research TIP: Zoning must come from council!
Research TIP: Never trust the agent
Look at what you are drinking.
Research TIP: Employ the experts
G'day Jon I've been investigating a property in Kangaroo Point with a client. We are possibly looking at placing it under contract subject to due diligence and getting full answers from yourself and my planner then, but I wouldn't mind a bit of feedback from you now. The site is a corner site and contains 3 existing houses and possibly room for a fourth. See below bimap and an aerial photo after that. It is on a combine with no clear way of getting off. The closest downstream sewer is in Linton St and you'd have to come through 66 Linton, then 91 Princess St. Costly and requires permission x 2, one from a nice house. My only thought is maybe you can bring the sewer in Duke St across. The sewer at the manhole at the intersection of Duke and Princess is 10.07m above sea level. The Eastern boundary of the subject site is about 9.7m above sea level, so clearly can't go that far. You'd only need to take it to the Western edge of the Eastern house, but this is about 10.4 AHD, so you only have about 30cm of fall available between there and the sewer some 40m away. 99% sure that isn't enough. Not to mention it can't be at surface level. Maybe, just maybe, there is a chance of bringing it across to service only 2 of the houses (plus a new dwelling if we go down this path) and leave the last dwelling on the combine. We are improving the situation so I can see it being a possibility. The land is probably about 10.7m AHD at that point. Also, I am taking my depth for the sewer from the manhole, but you would actually bring it in along the back boundary, so the sewer at a guess is probably at 9.9m at this point, not 10.07m. Etc, Etc
Research I’ve done my numbers Answers come back negative…we buy for return only Answers come back positive…we make $600k Answer about sewer came back no.
Other Research Techniques
1. Look Beyond the Glossy Photos
2. View Source
3. Find the Address
Summary Your purchase is only as good as your research Most ‘bargains’ are bargains for a reason Look at every deal with an investment eye, not an owner’s heart