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Also, don't forget to do your due diligence on site investigations for flooding, services and storm water discharge, etc. Depending on which suburb you are located, its best to do some research and find out how much the council contributions will set you back.
We have a project at Camp Hill recently been approved for five townhouses with city views. Depending on your block size and location etc, you maybe able to subdivision or apply for DA for townhouses and units to on sell for a higher value. It's best to do some research and feasibility and see how the numbers stack up.
If your looking for an investment, find a property where you can add value down the track such as renovation, subdivision or potential development.
Can I ask what type of investment you are looking for?
jcso99 wrote:.
Would appreciate your feedback on my thoughts. Secondly, would love to know whether anybody would be able to recommend a reliable draftsman/architect during the planning permit stage and recommend a reliable builder and contract administrator during construction stage?Looking forward to hear from you soon.
Cheers
John SoThere are a couple of project managers in Melbourne that can assist you in this area, they would also have contacts with architects and builders and other consultants..
jimh12 wrote:Could you give me some indications on the price as well? Is it best to go to a draftsman/archictect first , then approach a builder with the approved plans? or could I save some money by just going straight to the builder? JimBest to find an architect/draftsman that you like and get a town planner to see what can be built on the site. During the design stage get a builder on board as his comments will assist in saving you money when it comes to construction.
I don't know the prices in Melbourne but up in Brisbane you can pay $190k for a basic townhouse up to $250k for a boutique architecturally design townhouse. Its very hard for builders to give a estimation without any plans for specifications.
This link may help.
http://www.bmtqs.com.au/ConstructionCostTable.aspxWelcome the investment world, once you start you can't stop!
Try and read as much books as you can and learn from other investors who are in the property industry.
Find a project manager in your area, they can assist you in all areas of the subdivision process.
quattro4 wrote:c) Thoughts on investing in a sub 50 sqm 1bed unit that would be cash flow positive (even though i may have to put a little more than 20% into it). Future sales potential etc.I wouldn't go anything less than 50sqm, I think the capital growth would be lower than something that is a bit larger in size. The reason why some of the properties are positive cash flow is because the rental price has increased but the value has stayed flat.
Speak to someone who has built with them before. The feedback so far doesn't appear to be good.
We have Westpac @ 7.06%.
Best to drive around the local area where you plan to build or look for similar dwellings. Find the builder that has recently completed a house/granny flat. Speak to a couple of builders and they will be able to give you accurate estimates.
Sash,
From reading your post I think it's sometimes good to pay for professional consultants. As you mentioned that you did not have any experience this this field. With the consultants that you have chosen it sounds like they have experience, and can assist you in the planning stage and right up to construction.
If you didn't get their advice than where would you start?
What is the process?
Which consultants do you need and when do you require them?
Is there any issues with the site such as flooding?There are many issues that could have arise along the way that were unknown and sometimes the only way to learn is to try it yourself.
I think the price of 21k is fair for their services, how much would it have cost if you went solo and how much time do you require to outlay?
Qlds007 wrote:Yes it is possible would all depend on your own Asset & Liability Statement, your income, number of pre-sales you have and the actual numbers based on the project etc etcCheers
Yours in Finance
Speak to Richard, he is very experienced in this department.
http://www.pricefinder.com.au may also help what your looking for.
