Day 2 - Narrowing the search

I negelected to mention in previous posts that i am currently postop tonsilectomy and thus have been housebound for the last week. Slight madness has been creeping over me partly due to the vast quantities of codein I am forced to consume do dampen the pain.

This is essentially what has given me the time to think of an alternative career to my existing vocation asa highly paid nerd. I recently read a phsychiatrist's report about IT vocations being amongst the most stressfull of all vocations. I find this very encouraging as I have enjoyed the strsses of the IT world. I noticed property development was not even on the list of stressfull vocations so I am clearly qualified to deal with the stresses of being a property mogul.

With my new found knowledge on building townhouses and the minimum block size and restrictions imposed by council on how many and where townhouses can be built in my area I dexide to hit www.realestate.com.au and see what sort of price range a suitable block would be.

Interestingly enough there are no blocks over 1200m2 for sale in my area. The only solution would be to buy to adjoining blocks of 700m2+. It sounds kind of difficult to put together a deal like that. Presumably would require 2 existing neighbors to decide to sell their land at the same time. Not to mention that would completely be outside of my budget.

I remember now the definition of a townhouse in my area mentioned something about 3 or more dwellings with 2 or more stories. I think building 3 or more dwellings would be far to costly and complicated for me to take on as a first project. It would be a bit like getting a Uni Graduate to manage a HP Openview rollout.

Google Search Term : Local Council Divide Block in 2

Now we are getting somewhere. Aparently you can apply to council to have your block split in 2. This is called dual occupancy and you can then apply for strata title for each block. I think this is the way to go for a first timer.

Now I have direction there is no stopping me at all. Next I need to get some quotes on dual occupancy building and figure out what to do next with the council. I also need a partner to take on some of day to day management and pressures a property mogul must deal with.

I have also found a great site for budding developers or those wanting to build their own house. Check out the forums on www.homeone.com.au

Stay tuned. I am realy starting to get some traction now.