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966 x 545 (@92%)” width=”880″ />

Update

Today was one of those happy days – the concrete was poured and slabs are now complete. I have attached a couple of photos for viewing.

Now the rest…[Read more]

Joe, PM me some of the details and ill take a look at it sometime next week. 

Oscar

Buying with family? Think very carefully. At the ages that you all are things can change very quickly when you get married, kids etc. Definitely seek advice and structure correctly when the inevitable happens.

Oscar

Hi Joe

With a project like this I would focus on finding someone that is competent to arrange your designs and follow through with your Town Planning application before you differentiate between an architect and draftsman. Both can do the job.

Cheers
Oscar

chu wrote:
hi guys,

long term reader, first time poster!

any way looking at developing duplexes in melbourne's south east, around moorabin, bentleigh east

in your experiences, what would 2 storey, 4 bed, 2 bathroom duplex cost? what features really add value? any recommended builders

sorry my questions are so vague!

cheers

Very…[Read more]

Another big factor in determining your costs will be your drainage design and stormwater requirements. These are dictated by the water authority and council. A good engineer will help you.

For the driveway (coloured) allow $65 per metre and a couple of grand for a new crossover if you need one.

Dont' forget to add landscaping, fencing and the…[Read more]

You would want to make sure your pockets run a lot deeper than $40k for a development, especially considering it will be your first. If you have equity elsewhere and can access it, well,  then it's a different story.

Oscar

Update.

Plumber came in on Monday and completed the underground work, including the stormwater. Also got the water tapping done. Concreter was in Tuesday. All was going well with the pre-slab work until we hit rock. Then more rock. It became an issue when larger rocks were located where the rebate was going to be. So today we had the excavator in…[Read more]

Hi Stephen

I'll probably do a sell some/keep some strategy with this. The margins are good where if i sell 2 and use the sales proceeds to reduce the debt, the remaining unit will have very little debt. It will be cashflow positive by a mile and i'll have good equity to draw upon when needed.

Cheers Oscar

Hi Chris

I’d love to put the plans up but I can’t manage to do it

Anyone care to help?

Cheers Oscar

You can sell anything and have a "subject to" clause. I have sold quite a few where i sold units off the plan subject to obtaining the planning permits/DA and subdivision.

Oscar

You'd be better off finding a local builder, one that builds in the western or northern suburbs. Price is generally cheaper. A good mate of mine building his own home in the eastern suburbs did this and he saved quite a bit of money on the build as he got "western suburb prices" 

Oscar

Bnd

I have completed a few in Reservoir and starting another in a few months. If you are on top of things you can be done in about 12 months. 18 months is way to long. So, planning permit 4 months, building permit 3 months, build 5 months.

You generally do the subdivision during the build. So not much time is wasted. The properties will be…[Read more]

Hi Hayden

I've done it often enough that I get the numbers right with a simple spreadsheet I use. I always make sure each development has a lot of fat and allow a 5% buffer to be safe.  Sorry, no magic formula. 

Oscar

You do realise one of the guys, Chris, shot himself a few days ago? The above comments become a bit tasteless now don't you think?

Oscar

wilko1 wrote:
what structure did you do the development in ?  company, trust, personal name ?

Hi Wilko

I use a company/trust structure. It works best for me.I find it gives more flexibility. e.g. distribution of profits, CGT discount at times etc

Cheers
Oscar

alfrescodining wrote:
Hi OC

I'd be interested to see how the 5 units were fit on to a 980sqm site!

Do you have the plans online anywhere?

Here you go. All single level.

Hi DaOne, shoot me a PM and i'll see if i can help you.

Cheers
Oscar

Great work Eddie. Thanks for sharing.