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to Jeremy and Luke. “Other than a quick
removal of the grass once the builder
got onsite. As far as I know the surveyor
just checked contours and soil types,”
Apparently the block next door was
zoned ‘medium flood risk’ so they had to
drop 15 per cent off their asking price, but
they had already looked into their zoning
and had no problems. Once the walls were
up, Jeremy and Luke were able to take a
back seat for the months during the build.
“There was very little rain this time
round,” Jeremy remembers.
“As it neared completion, we went up
for a week, and then several consecutive
weekends to begin the fencing and
anything else we could complete.
Because the supervisor allowed us onsite,
but obviously not inside, our goal was to
have the entire outside finished before
handover, leaving only the tiling, some
painting and electrical work to be done in
order to reach completion.”
Then the unexpected happened.
Handover coincided with a tenant leaving
and completely “trashing” one of their
“So we went to Toowoomba a week
before handover to bring it back up to our
quality before we went hard at finishing
the triplex for the next four weeks,”
“We’d signed up a property manager to
take over our existing properties a few
months earlier and were able to get them
in to take photos of the first unit we’d
finished, and organise inspections while
we were working on the others.
“As we were putting the final touches
on the units, Luke was questioning why
the property manager was taking so long
to find tenants and I pointed out that we
were standing inside and working on
the unit that he expected to be currently
tenanted. He’s very, very keen.”
The boys previously self-managed their
rentals but were restricted to advertising
rental vacancies through Gumtree. While
they had some great tenants, they also
had some undesirable ones.
“We don’t particularly like to outsource
when we can do a job ourselves, but the
money that we spend on our property
manager is well worth it. We’ve even
found a handyman we trust so investing
takes up as little time as possible.”
¿ REFLECTION TIME
“Today, we could sell the triplex for around
$900,000,” Jeremy says proudly.
“We made $277,000 in instant equity.
The development is positively geared at
about $15,000 per year.
“We just continue to push the
boundaries of good fortune by not
knowing how we’re going to pay
for things, planning extravagant
developments, leaving little wiggle
room... not out of ignorance but ambition.
“We expect a
lot from ourselves
and can’t seem
to slow down.
I have tangible
plans to build a
and separately, a
Jeremy and Luke
have almost refined
down to a year now,
a fine achievement
for their second
a surefire sign of
future successes. API
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Use your smartphone
or tablet and your
favourite QR scanner
app to see photos and
plans of Jeremy and
Luke’s new project.
The highlight is a three-way tie between:
1. All of the compliments the property
receives eg. “No one is doing what you
guys are doing.”
2. Seeing how the lighting feature looked
3. Being able to prove to ourselves, and
to others, that the first development
wasn’t a fluke and we could actually
improve the second time around.
Lowest moment of this development?
Taking responsibility for damage done
by a contractor to a neighbour’s fence.
After negotiations we settled on a figure.
It’s the closest I’ve come to regret but I
learned a lot, Jeremy says.
Highest and lowest moments?
Building inspection time
JEREMY ANIFTOS AND LUKE FIVEASH \\ MY DEVELOPMENT
Use the button below
to see photos and
plans of Jeremy and
Luke’s new project.
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