Unlock the Cash in Your Backyard: Develop Your Unused Land Without Spending Any of Your Money

by Iva Norris

Overview

How many times have you examined your financial situation and wondered, 'How do I find enough money to pay off my mortgage, afford a holiday, or pay school fees for my children and grandchildren?'

Imagine how easy life would be if you won the lottery, or found a stash of hidden treasure. You'd be able to afford everything your heart desires, and ensure your family is well taken care of. Imagine paying off your mortgage once and for all, taking that dream holiday you and your spouse have always talked about, or being able to contribute to your grandkids' tuition.

It sounds wonderful, doesn't it? Well, it's all within reach - because you're sitting on a gold mine. That's right. You can come up with the money you so desire because there is treasure buried in your backyard.

This book presents detailed information for property owners who want to subdivide and develop their land, so they can free up much-needed cash for their future. It reveals the opportunities and pitfalls of subdividing and developing a block of land, and how to leverage what you have while avoiding common mistakes.

Product Details

ISBN-13:	9780648137184
Publisher:	MacMillan Company Limited
Publication date:	05/30/2018
Sold by:	Barnes & Noble
Format:	eBook
Pages:	316
File size:	2 MB

About the Author

Iva is the founder and director of Premier Property Developments, which specializes in local real estate investments and developments. She has also invested in property in the United States and Brazil. Drawing on her vast expertise in vendor finance, property development, and buying and selling commercial and residential real estate, Iva wrote this book to help homeowners unlock the 'hidden treasure' in their backyards and achieve their financial dreams.

Table of Contents

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