BCC setback is 1.5m from side boundary

Hi
The key to success is conducting a detailed feasibility analysis. Your due diligence should also include consulting a townplanner for advice. He will then outline the steps for you to follow.

The basis are as follows.
If you need to lodge a DA then you will need a surveyor then an architect to prepare development drawings. You may need…[Read more]

Hi
I know have known Michael for over 8 years now and have found him to be helpful, honest and trustworthy individual.

I hope you find your journey with Metropole a profitable one.

Sailesh Channan

http://www.developersedge.com.au

“Helping you select,develop and profit from property”

Originally posted by kp:
Lots of assumptions there Sailesh.
First one being that the resale is $260k each.
What if it was $350k each ?
Would it be worth going ahead then ??

I would suggest that resale in this suburb of Perth WA, is quite different to what you are used to in Bogan ( oops…I mean Logan)so making the assumption that the market…[Read more]

Andrew

You need to be more specific. Each council in the area has different rules and fees.

It may be worth going to your local council offices and checking up on the requirements.

Sailesh Channan

http://www.developersedge.com.au

“Helping you select,develop and profit from property”

Hi again Patbc

You are in an interesting position here. Assuming it costs you $250k to build a duplex and resale value at $260k each then your nett equity position would remain unchanged.

My guess is that your cashflow position would remain unchanged as well…depending on rental estimates of the new dwelling. However your depreciations will…[Read more]

Hi Patbc

At a quick glance, if I where to buy the site from you and sell the finished product at $260k each I would offer you around $150k for the site with the house removed.

Any developer who looks at this property will be working with similar figures in mind. Therefore, if you can get $280k for your property then it would be a good price and…[Read more]

I have come across an interesting and legitamate tax strategy for such cases. By using this strategy you end up paying no tax on the old property. However, this only works if you end up keeping the new dwelling.

Sailesh Channan

http://www.developersedge.com.au

“Helping you select,develop and profit from property”

Hi Julieand Thomas.

You are very lucky to have acquired a corner lot subdivision so cheaply. Your council is also very generous with thier development costs. Brisbane City Council charges close to $30k for a similar subdivision.

You are also very fortunate to have such a low construction cost. I am currently paying around $730 per sqm turn key…[Read more]

There have been a lot of interesting points raised by some experienced people.

The only thing I have to add to this is that you need to do your feasibility carefully when looking at sites. This also includes producing the right type of accommodation to suit the demographic profile of the area.

You do not want to produce more of the same as you…[Read more]

Originally posted by Amused:
Hi, Sailesh, how long did it take you to get through the council (subdivision ) or planning authority to get strat tyled?

The Development approval process in this instance took around 3 months. Now that the council is familiar with our plans we are finding that this process is even quicker now.

We will be applying…[Read more]

Mark Partick

I can give you some of the information you are looking for. We manage the following duplex project on behalf of a client. Since we started our negotiations on the land the market in Brisbane has worsened however, we used conservative estimates in our feasibilities and the numbers were still in our favour. This prompted our client to…[Read more]

Great advice resiwealth.

I also use your method when conducting feasibilities. With the current weakness in the realestate market it is very difficult to make money from property developments.

Apart from this BCC had a massive hike in fees as of this financial year and town house construction costs are prohibitive.

While this site may have 2…[Read more]

Michael, thank you for the referral I will pay you later (joke)

I think your warning about the town house and unit market is right as there is an abundance of such dwellings currently. The vast majority of such dwellings are purchased by investors and if interest rates rise then we could see investors bailing out further weakening this market.

I…[Read more]

Hi

Around $1200 per sqm for townhouses these days so $180 to $200k is about right. Construction costs will vary between types of dwellings.

Your simplest type of dwelling is a low set brick and tile home and here you will pay under $800 per sqm for a decent turn key product. Prices increase as you go to a double storey and even more for a town…[Read more]

A little knowledge can be dangerous. Going to free seminars and picking up bits of information in order to embark on a major development project is asking for trouble.

Property development has the potential of making massive profits and loosing as much. Over the last few years I was associated with an organisation that miss-managed over 40…[Read more]

AnnaB

As you may be aware the Brisbane city council covers a very large area. The counter staff while being very helpful unfortunately will not be able to provide you with detailed information that you would require prior to purchase. Therefore purchaseing a property on the word of an inexperienced counter staff could be risky.

All the senior…[Read more]

Anna

I provide a development advisory service to assist investors investigate and qualify the viability of the development.

This is done by engaging professional consultants that will provide a fully costed report on all the development costs asociated with such a development. We will also research the market for the most suitable dwelling for…[Read more]

Hi

What is your real profit after purchase costs, selling costs and taxes have been taken out.

If you are still ahead and you really need the money then go ahead and sell.

Sailesh Channan

http://www.developersedge.com.au

“Helping you select,develop and profit from property”

The expected gross rental on the Morningside place will be around 5.8%.

The property was acquired through a small lot subdivision where I split a 800 sqm block to build one brand new 5 bedroom house and renovate the existing house into a 4 bedroom 3 bath house.

The profit from the exersice is around $180 000. Both houses will be rented out.

The…[Read more]