Next steps

What happens next?

We map out your journey from when you first become a client, all the way through to tenanting your purpose built SDA property.

Before Your First Meeting

Welcome onboard! You should already have your First Meeting booked with our team.

It is critical that you sign the Client Service Agreement before this meeting. Your meeting will be automatically rescheduled if this has not been signed 24 hours before the appointed meeting time.

Please click here to do this now.

How can I know if I will get tenants?
This is our most commonly asked question. To help focus our conversation during the meeting please watch the short video below.


Click here to watch the video on tenanting.

First Strategy Meeting

In this meeting, we will discuss property strategy and take a high level look at the best options for your situation. We will cover any unanswered questions, so we suggest preparing a list so you don’t forget anything.

To get the most from your meeting we recommend going over the FAQ page on our website as this is a list of the most commonly asked questions from these calls.

After this meeting you will be introduced via email to one of our finance partners.

Primary Contact: Diogenes Investing Property Team

Initial Borrowing Capacity Assessment

In addition to the initial documentation we send with your introduction, your finance specialist will contact you to request further information. 

You will need to provide all the standard documentation that mortgage brokers/finance institutions require such as payslips, tax returns etc.

The sooner you provide the documents they require, the sooner you’ll know where you are at with finance.

Time Estimate: Up to 5 business days (after all required information is submitted)

Primary Contact: Finance broker

Second Strategy Meeting

With your borrowing capacity in hand, we can now consider all the property options available to you.

To set a time for that meeting please click here.

Primary Contact: Diogenes Investing Property Team

Conditional Approval

Conditional approval is a critical step.

Finance approvals can be slow (as long as 3 weeks) and a SDA valuation can take up to 2 weeks, so getting all this done in a standard 21 days finance clause won’t happen. This is why you need your conditional approval in place before you can put in an EOI on a property.

Due to a shortage of land, land vendors have little patience for delays as they know they have several buyers lined up for the same block. This means that we need to keep every deadline or risk a cancelled contract. We have had clients miss deadlines, the vendor cancel the contract as a result, and then re-listing the land at $10,000 higher the next day. That was an expensive deadline to miss.

Additionally, SDA valuations are expensive, $2,800, and higher in some areas. We don’t want you to pay for one of these and then discover you can’t get your finance anyway.

Time Estimate: 1 to 3 weeks (after all required information is submitted)

Primary Contact: Finance broker

Entity Creation

If you intend to purchase your property within an entity (ie. not an individual), the entity must be established before placing an EOI on a property as the entity name is required for the contracts.

This process should commence as soon as possible after your first strategy meeting as this can take some time to complete.

Time Estimate: For a trust, this can take 3 to 5 days after submitting your documentation. Potentially shorter if you already have a DIN.

For a SMSF this can take 2 to 3 months.

Primary Contact: Your accountant.

If you need a recommendation we can introduce you to Andrew’s personal accountant who is highly experienced in this area.

Property Selection

With your conditional approval and buying entity in place, you are now ready to select a property. You will already be familiar with some of our properties and have been sent recent examples from the areas we are building in.

Please Note: We do not sit on a list of available properties. There is a chronic land shortage in desirable locations, which means good land sells on the open market very quickly. Any land that lasts long enough to make it onto a list, is either overpriced, isn’t in a desirable location, or has some kind of problem with it.

Clients have sent us lists of “available properties” from other companies, where they have listed blocks of land that have already been put under contract weeks before.

Time Estimate: 1 day to 3 weeks depending on the area you are wanting.

Some infill suburbs (suburbs that are full of existing houses) can take a few months for the right block to come onto the market.

Primary Contact: Diogenes Investing Property Team

 

Expression Of Interest (EOI) Submission

EOIs are submitted via an online form. You will need to be ready for this with the required documents such scans of your ID and the front page of your trust deed (if you are using a trust).

Remember, land vendors are impatient and typically have several interested buyers. They will sell their land to the first buyer with a completed EOI.

Primary Contact: Diogenes Investing Property Team

EOI Confirmation

Together with your documents, you will be asked for a (fully refundable) holding deposit.

The vendor will confirm the acceptance of your EOI once the deposit is received.

Time Estimate: 1 to 3 days

Primary Contact: Contracts manager

Contracts Issued

For non SMSF buyers, contracts are usually issued within 3 to 5 business days. There will be two contracts, one for the land purchase, and another for the build. A DocuSign link will be sent to you and your solicitor.

Time Estimate: 3 to 5 business days

Primary Contact: Contracts manager, your solicitor

Sign Contracts

YYour solicitor will arrange a meeting with you to go through the details of your contracts and answer any questions you may have. The land contract is typically the standard Real Estate Institute contract for a given state. The build contract is typically the standard HIA contract.

In this meeting you will digitally sign the contracts, which will be sent for counter signing and exchange.

Time Estimate: 1 to 3 days

Primary Contact: Your solicitor, Contracts manager

Contracts Exchanged and Executed

After your sign your contracts, they will be signed by the counter parties. It is from this point that the finance clause time period begins. Thankfully, with the conditional approval in place all that is needed is the valuation to be ordered.

Time Estimate: Typically 21 days

Primary Contact: You solicitor, Contracts manager, Finance broker

Final Loan Approval (Unconditional)

Valuations will take around 2 weeks to complete as this is a long form valuation (not a tick-and-flick standard residential valuation). Valuations are typically at the contract price or above.

After receiving your valuation, you can then instruct your solicitor to go “Unconditional” on your contract. Your land deposit is due at Unconditional. If your land is registered, you will get a land settlement date. If your land is unregistered, you will await registration. Settlement is generally 14 days from notice of land registration.

Your build deposit may also be due at Unconditional, depending on your build contract. If not, it is due at land settlement (your solicitor will advise on this).

Time Estimate: 1 to 3 weeks

Primary Contact: Finance broker, Contracts manager

Land Settlement

Congratulations, you now own a new block of land. The title of the land is now transferred to your name (or entity). If you are borrowing to purchase the land this is when your mortgage is first drawn down and you will start paying interest on the drawn down segment of your loan (not the full loan amount).

Time Estimate: 4 to 8 weeks (this varies from state to state)

Primary Contact: You solicitor, Contracts manager, Finance broker

SDA Property Compliance Fee Payment

It is now time to commence the SDA certification process, prior to submitting  your plans to council, to avoid unnecessary delays with your building application. The SDA Property Compliance Fee covers the various costs involved in the SDA compliance process of your build, including preparing your SDA building design plans for council approval, including any last-minute changes and variations to SDA requirements, onsite inspections during the build if necessary, up until the final certification inspections and paperwork and SDA certificates at the completion of the build, and liaison with the builders to manage this entire process for you. This is all arranged for you so there is nothing for you to do here. In the (highly unlikely) event there are changes required this is not a problem as your build contract puts the onus on the builders to bring the house to the SDA standard.

Time Estimate: 1 week

Primary Contact: Diogenes Investing accounts

Building Approval

After your land settles (and your build deposit is paid) your builder will lodge your building approval (BA) with the local council. Approval is typically received in 8-16 weeks.

Time Estimate: 8 to16 weeks

Primary Contact: Contracts manager

Site Works Begin

After the BA is received, the builders book in their trades and order the materials for your build. They are typically on site in 4 weeks.

Time Estimate: 4 weeks

Primary Contact: Contracts manager

Slab/Base Stage Claim

This is the build stage where earthworks and all in ground works have been completed, and the concrete slab is laid for your property.

This will be the first drawdown on your mortgage for the build.

10% – 20% of your build contract price.

You will also be introduced to your potential future tenanting partner/ SDA manager following this stage.

 

Frame Stage

20% – 30% of your build contract price.

Lockup/Enclosed

25% – 35% of your build contract price.

Fixings Stage Claim

20% of your build contract price.

Practical Completion Stage Claim

Despite what this stage is called, your building is not ready for handover yet (typically another 4 to 6 weeks away)

10% – 15% of your contract price.

Quality Control Inspections

At Practical Completion stage, an independent building inspector is appointed to go through your property and inspect for defects.

Defect inspections are a standard part of the building process and defects are expected to be found. The inspector will physically mark all the defects in the house with coloured tape and prepare a comprehensive list and report that is sent to your builder. Owners will usually receive a copy, however this is for your information only and you do not need to act on this document, it is for your builder to action.

Your builder will work through the list and correct all the defects identified. The inspector will then return to to your property to inspect the quality of the rectifications and sign off that your property is completed satisfactorily.

SDA Certification
A SDA certifier is engaged to perform the SDA inspection when your property reaches Practical Completion. If the property passes the inspection, it is lodged with the NDIA. If rectifications are required, the builder will have to action these, followed by a re-inspection.
You can expect your SDA certificates at Handover, however this depends entirely on the NDIA. If not, they will be sent to you when they are issued.
Time Estimate: 4 to 6 weeks (depending on the NDIA)
Handover

Congratulations! The build process is officially complete. This is when you get the keys to your property. A copy can be sent directly to your SDA manager.

Tenanting

Your SDA manager will inspect the property and typically take marketing photos for additional/future tenants.

Participant Inspections

Participants came and look at their future home. 

Participant SDA final approval

While participants have the SDA approval already, they need to have that approval assigned to your specific property. The SDA will confirm the property is the correct type for the participants fund and apply the location factor to their payment. 

Participant moves in

Participants can sometimes move into your property prior to getting the final funding approval in place. The arrangement here varies from manager to manager. They may pay market rent until the funding begins. You can also potentially get the SDA rent back paid to the date they moved in.

OUR philosophy

Question Everything

Does the current course of action result in the absolute best outcome? Can the high returns on small scale property investing be scaled to an institutional level? Can the wholesale advantages of institutional investors be leveraged for individuals?

Find a Better Way

Excellence and exceptional results have never come from merely following established norms. In every endeavour, whether it be sports, business, investment, science, healthcare, arts… excellence come from questioning norms and then finding a more effective way of getting the results you seek.

Partner For Success

William Shakespeare said “a jack of all trades is a master of none, but oftentimes better than a master of one.” Our strategic partnerships with masters of one trade, enable us to successfully navigate this conundrum and avoid the compromises of being a master of none.

 

ORGANISATIONS WE SUPPORT

 

Diogenes the man, while exceptionally eccentric, dedicated his life to helping the people around him live the best life possible.

At Diogenes Investing we apply this philosophy to our clients however, just as importantly, this thinking also informs the organisations we choose to support. We are passionate about providing individuals with the opportunities and support they need to live the fullest life possible. Our partnership with the following organisations is a logical extension of how we achieve this.

Special Olympics Australia

Special Olympics Australia is part of a global movement founded in 1946 by the late Eunice Kennedy Shriver, sister to US President John F Kennedy. Today, this movement provides sport for children and adults with intellectual disability and Autism in over 177 counties. Sport is special to all of us, and Special Olympics Australia makes this possible through the inclusive sport programs offered weekly throughout the country to people with an intellectual disability and Autism as well as a supportive community for families and friends.

Blind Sports Australia

Blind Sports Australia (BSA) is a national sporting organisation for blind and vision impaired sport. BSA helps create pathways and opportunities for people to participate in blind sport from grassroots community level, right up to elite competition at national and international level.

We work with our eleven members and other disability sporting organisations across Australia to grow blind sporting opportunities for people who are blind or have low vision and raise awareness of blind sports across the community.

BSA is a not-for-profit organisation. We are a founding member of Paralympics Australia, the Australian Sporting Alliance for People with a Disability, and are Australia's representative to the International Blind Sports Federation.

Disabled Wintersport Australia

Disabled Wintersport Australia (DWA) is a registered charity (ABN 64 571 062 301).

DWA’s mission is to "promote and foster the advancement of participation of people with disability in winter sports in Australia, with safety and dignity."

Established in 1978 as the Australian Disabled Skiers Federation, DWA has assisted thousands of individuals with disability to participate in winter sports. DWA plans to broaden operations to include green season activities such as adaptive hiking.

DWA’s headquarters are in Melbourne. DWA operates at Australia's 5 major snow resorts across New South Wales and Victoria. DWA works closely, and collaboratively, with the management teams at Thredbo, Vail Resorts (Falls Creek, Mount Hotham, and Perisher Ranges) and Mount Buller.

These strong relationships, combined with the support of resort staff, ensure DWA can deliver positive experiences for members, enabling them to find their freedom on snow.

DWA’s members range from recreational skiers and snowboarders to Winter Paralympians, and some of the world's finest winter athletes have emerged from DWA’s programs.

DWA’s vision is "the equality of opportunity for people with disabilities to participate at all levels in the winter sport of their choice.”

Arts Project Australia

Arts Project Australia (APA) is a creative social enterprise that supports artists with intellectual disabilities, promotes their work and advocates for their inclusion within the broader contemporary art sector.

Our mission is to see Australian artists with intellectual disability at the centre of the national and international arts sector – recognised, earning income and thriving in their arts practice.

Our Northcote studio is attended weekly by around 150 artists who live in the metropolitan Melbourne area. Since 2020 we have also run an online program, Satellite Arts, for artists who live anywhere in Australia (but predominantly regional Victoria) or are unable to travel to the studio.

We have a gallery at Collingwood Yards, where we showcase APA work alongside that of invited local and international artist. Our artists own the works they create receiving 60% on all sales in action to income from works leasing, commissions, art prize, image licensing and collaborations.

Diogenes Investing Pty Ltd ATF Gray Holdings Trust;  ABN 90 095 371 433;  Level 19/10 Eagle Street Brisbane QLD 4000