Option Deal in Progress – Possible JV

Hi all,

I’m in the middle of getting a *possible* ‘option’ over a 1950’s built 2 bedroom (1 toilet) house that comes with
a bungalow (and an outside toilet) – corner block, 1000 sqm in Mitcham (nice area – close to the
station and shops like cafes and coles).

-Asking price is $1.1 million

-They have consulted 4 agents but have not signed with them as of yet.

-The 3 brothers wants to move on as their father has passed away.

-I see this as a land value opportunity to on-sell to a developer ( i have left a message for a
developer to call me back, but have not heard back at this stage) or a renovation job.

-As I am relatively new to this venture, and have 2 other smaller deals coming, I don’t mind looking
for a JV partner on this one.

If anyone is interested, just let me know how to contact you and we can work something out.

Or if you have any feedback/advise on this, let me know!

Much appreciated!