Forum Replies Created
Hi Everyone,
I am a Hotel Broker, there arn’t many of us out there which is surprising because it is excellent. I love my job!!!!!!!
When Considering the costs of developing land you have to take in to consideration the site costs so say the dirt cost you $400k and you get 2 duplex’s on this site that’s $200k per site. you would then need to seek advice from say the local real estate agent as to the reasonable selling price per unit. You then have to access cost such as “Stuff Ups” allow say $10k per unit, Rate (Whilst Building), Interest, Stamp Duty, Legals, DA approval (depending on council but this could be expensive in more ways than one a lenghty DA enhances time related cost ie interest and Rates)Banks will assess rick to profit ratio. Most developers require between 20 – 30 % return to cover the “Risk” Factor.
Hi Nigel,
What suburb do you hale from? Living in Newcastle you would have seen all the recent developments what are your thought on these? I am trying to weigh up the potential benefits of buying a unit of the plan V’s the potential Risk (ie market being flooded) what are your thoughts?
Hi Everyone,
I am actually in Real estate Not residential but commercial (Hotels to be specific) I was reading your discussion on private sales, as with any professional body their are your fraud’s (you know talk heaps act little) these are the type of people that give agents a bad name. A good not average, but GOOD agent is worth every cent they earn. I NSW the sources or Real Estate buyers goes somthing like this:
Personal Referral 33%
Company Image 25%
Sign 15%
Office Personnel Initiative 10%
Newspaper Ads 9%
Open House 5%
Walk Ins 3%so by cutting out agents your losing 68% of your potential purchasers!!!!
