Hi, I am considering a development project. I would like to buy a block of land 900+ metres squared, bulldoze and put 3-4 townhouses on it. I am finding that these blocks of land are being snapped up very quickly by developers/builders to do the same thing.
My question is: is it possible to compete (and be profitable) with builders who would have much lower building costs or seasoned developers who would have the right contacts in the industry?
Advice for a rookie appreciated!
You'reright, your construction costs will be higher however your overheads will be lower than most developers as you don't have an office/staff/wages etc to support.
Do a JV with a builder then!
50% of something is better than 100% of nothing…
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