real deal. \ how did i find it? site plan how did i secure it? even though it was a 2 week tender?
Post on 18-Dec-2015
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Real Deal
\
How Did I Find It?
Site Plan
How Did I Secure It?Even Though It Was A
2 Week Tender?
How Did I Know It Was A Deal?
My Original Plan:Do The Same But Bigger
2013 to 2014…
Doing the Due Diligence
• Services:– Dial Before You Dig– Contour Survey– Land Sloping Away From Street– My Block Didn’t Help– Lucky there was a Stormwater
main in the Street!
The Turning Point In The Design
• Council Contributions for 2 x 3 Bed• 2 x $27,000 = $54,000 (2 New Dwellings)• 1 Bed = $12,000 each, 2 Bed = $18,000 Each • 200 sqm foot print to play with….• What If?????
The NumbersPurchase Price $327,500
Build Price $380,000Renovations $8,500
Contributions, Stamp Duty, Legals, Strata Titling, Town Planning, Council Application Fees,
Agents Comm, GST, Holding Costs ~$190,000Total Cost Base = ~$906,000
Worst Case Sales: 3 x $270k + $240k = $1,050,000Best Case Sales: 3 x $300k + $250k = $1,150,000
What Next?
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