Hi all! It's been a while what with Christmas and then for me a wonderful motorcycle holiday in Tasmania. What an awesome place it is!. There's a lot of great real estate buying down there too.

I'm inspired to write of my current project so that you can learn and follow along as I go. Feel free to send me any questions you have. If you have some equity, I recommend this as an easy way to make a nice return in a year and there is no reason why you couldn't make a 6 figure sum on your first project.

Here's where I am at. I have refinanced and am ready to purchase a property on a minimum of 800sqm block up to a maximum of $300,000. Hint: Check with the local council as to the minimum size block you will need to be able to split it into 2. I have found one that is 2000m2 and 2 that are around 1000m2. The main criteria then is to be able to build a 2nd dwelling on the block, so the original house must be in a position to leave a 400m2 block for me to do that. By splitting the block into two I have now created a free block of land that might be worth $100,000 or more.

Next week, I'll let you know how I get on with council.
Cheers
Fran