Unlock the Cash in Your Backyard (eBook)

Foreword 13
Introduction: Buried Treasure 17
Why you should consider subdivision now 19
A manufacturer of wealth 22
Three building blocks to financial freedom 26
Section 1: The Seven Step guide 29
Step 1: Define your strategy 31
Know your end goal 31
Is my land a match? 34
Discover your development options 39
Know when to cash in 46
Step 1 Checklist 48
Step 2: Get council buy-in 51
Learn about your council’s rules and regulations 51
Other requirements 58
Get your neighbours on board 60
Step 2 Checklist 63
Step 3: Assess your project’s viability 65
Create a concept design 68
Define your budget 73
Determine your tax requirements 76
Consider your exit strategy – cost and revenue 83
Calculate your ROI 89
Step 3 Checklist 94
Step 4: Secure funding 97
Option 1: Get a loan 97
Option 2: Use your own cash 103
Option 3: Do a joint venture 103
Step 4 Checklist 111
Step 5: Applying for your permits 113
The planning permit process 115
Tips for a speedy permit approval 120
The building permit process 126
Step 5 Checklist 129
Step 6: Working with your builder 131
Builders insurance 134
The contract 139
Site supervision 144
Step 6 Checklist 146
Step 7: Go to market 147
How to find a good real estate agent 147
Negotiating a deal 150
Renting your property 157
The finishing touches 158
Step 7 Checklist 160
Section 2: Meet Your Team 163
Meet your team 165
The accountant 167
The solicitor or lawyer 168
The town planner 170
The real estate agent 171
The property valuer 172
The land surveyor 174
The developer 175
The architect or building designer 177
The interior designer 183
The quantity surveyor 185
The building surveyor 186
The mortgage broker 187
The builder 190
The project manager 192
The engineer 194
The landscaper 196
The arborist 197
Section 3: Interviews with the Professionals 201
An interview with real estate agent Anthony Gunn 203
An interview with land surveyor Jeremy Pearce 209
An interview with property developer Andrew Lenox 215
An interview with architect John Herniman 223
An interview with accountant John Lombardo 231
An interview with lawyer Colin Adno 237
An interview with mortgage broker Leanne Watson 245
An interview with property developer and mentor Rob Flux 255
Conclusion: Building a profitable future 265
Glossary of terms 269
Helpful links 277
Appendix A: Expanded Feasibility List 281
Appendix B: Unit inclusions, room by room 291
Acknowledgements 309
About the author 311