Id like to hear some melbourne developers share some views on where they have invested in the recent past and why ?
What methods did they use in finding a property ? If it was by targeting a suburb or suburbs? Looking anywhere and using price as a guide? If you only looked at duel occ. sites ? ect ectI think this topic might help some of us just starting in the property business.
Cheers[biggrin]
You wrote the other day that it would only cost you about 130k to build a unit. How big is the unit? were is the unit? have you got working drawing? if so did you get this prise of a builder? or are you owner building? did you take into consideration drive ways foot paths landscaping sub divition fees , water main up grade from 20mm to 25mm , sewer dispusment fees , gas (although this is ussally paid for by the gas company but some times not depending on how far they need to travel into the block) Storm water pit are need some times to retain water these can be ccostly if your council requires them. Taping fees for your main up grades . You now will need three meters to the property 1 to reg all water entering property and 1 for each property. If the untility companys need to bore under road or along foot paths . Phone connections , power now has to run under ground in most dual occ’s .
What you are thinking of doing is excelent but there is a difference between what you pay the builder and what the project will cost you . If you want send me a private message with your phone number and I might be able to steer you in some sort of direction.
Maybe you have already got all this covered, and if so that is excelent. There is quite a bit to know and if it is your first time it can be a lot to take in , but doing it can be exciting and very rewarding.
Good luck,
cheers RickMonopoly, my favourite game
ive been to the council and am now in the process of geting a design on paper. Once that is done i have two options, owner builder and getting a builder. Might it be wise to use an AV jennings or devine homes (Melb)type builder ? Do they even build units ?
May be there are builders people have used that they could recomend? Like the rest of you investors, i want the job done good and cheap !! [biggrin](Melbourne based)
Down your way Im not 100% sure but if you want a little quality for a reasonable price try Pauldings Constuction. They are bassed in frankston , but will travel.
Or have a look around your area at unit developements and get some builders name they will know the area and know the problems that they will come across.
Cheers Rick
Monopoly, my favourite game
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