Forum Replies Created
Drive around the area for similar developments that is currently under construction. Speak to different builders there and inspect their quality as well as their licenses.
Marie123 wrote:I am getting 5.2% but it is a fixed loan, which we got 2 years ago. We don't have as much debt though – only $270k!5.2% is really good. Is this with a bank or non lender?
christianb wrote:Link,Consider booking (and paying for) some time with a planner, designer or architect in the area who is familiar with the type of project you wish to undertake. Ask for two hours of their time, prepare a list of questions, and take notes. $500 for a big heap of expertise is a bargain in my opinion.
What brutal art said…
In my opinion, it really depends on the suburb and the the type of product that you are building. Best to see what other developers are building and selling nearby and speak to agents for their opinion.
Building a standard townhouse compared to a architecturally designed townhouses are two different things and also in cost wise.
Bigger town homes means extra money for construction, you will need to see how the number stack up in your feasibility.Its best to find an experienced town planner and consultant. Just ensure that all due diligence is made before buying the site which can include zoning, market value, flooding or water and sewer services to the site. Find out what other cost are involved when doing a subdivision.
I also use this program to search for development sites. Well worth the money if you are limited to time and want to find what your looking for.
We use Pricefinder.com.au, not only user friendly but more cost effective.
Are you looking to invest at the "Emporium" complex on Ann st, Fortitude Valley?
Invest in yourself and read as many book as possible on property, speak to other investors who are actively investing. Try and minimize any mistakes and learn from other who are successful. Just and read as much as you can on property forums.
Thailand, wish I was there now. Great food and so much to see.
George,
Its a nice dream and a good one too.
My advice would be to educate yourself as much as possible, read every book on property you find, speak to any investor, pick the brains out of developers or anyone associated with property. Start saving and look for your investment property. If you have a passion for property than you will succeed no matter what.
Find out how the large developers started and read their background and research their previous deals, Try and work for a builder or developer and gain more experience and work your way up.
Start small on your first development, its the best way of learning.
Hope this helps.
blueheeler1968 wrote:Can some one tell me what process i would go through from start to finish of investing in a property development. We are looking at a large block of land 25 acres in Tarneit, Melbourne?
What are the pros and cons?
What type of professionals will i be looking at?
Any information would be greatly appreciated.
1. Find a project manager or educate yourself with the full development process.
2. There are probably more cons than pros if you get it wrong.
3. Town planners, surveyors, civil engineers, the list goes on.
I would go see a town planner that is experience in that area, try and get a referral or speak to a developer in the area and see which consultants they use.
Are you planning to build a project home or a custom home?
Depends which market your are looking at how much much of a margin the builder requires to discount to get your business.Find a project manager or developer/builders in your area. They can assist you with all cost associated with your subdivision project. Some cost you need to take into consideration:
– contribution charges ( if applicable)
– town planning cost
– construction cost
– holding cost/ stamp duty cost
– cost for civil construction ( if required )Every suburb usually has its own zoning codes and regulation. I would find a private town planner that has extensive knowledge for your area. They can assist you in town planning reports and give you accurate advice on what can be achieved with your property.
Those are some issues, but luckily you have found a solution.
In my opinion these issues should have been picked up before lodging a town plan report through due diligence and site investigations. I wouldn't use the conveyancer again for any property dealings, its appears they didn't do their job correctly.
Next time it may be a good idea to get a soil report just to be on the safe side.
I would get an independent valuation just to make sure your not under selling yourself. A developer will buy at a certain price only if he or she can have some profit in the end that is worth while.
I am not familiar with the Parramatta local plan, but I would check to see local plans or a town planner to see if zoning could change in the near future. Currently you property can build 6 x units, but what if zoning is about to change to medium or high residential?
I can't help with builders down Melbourne. But if you drive around the local area and see which builders are active. Ask to go inside and view the workmanship, you can also get estimations if they are building a similar product.
Speak to the following property managers, they provide excellent service.
Zoe Staddon
Property Manager
P: 3373 0002 | zoe@remaxcolonial.com.au
Principal
Ray White Forest Lake Property Management3278 7333
Try speaking to a town planner and surveyor that has experience in your area.
