Brisbane Suburbs to renovate and make a profit???

Brisbane is a reasonably diverse place. I could recommend Hawthorne, Paddington or Bullimba but your budget is Inala. A few bones to go on?

Thanks Jamie

I suggest networking with groups of investors and renovators to begin with, there are a few groups like this around and it's all a fun, inexpensive and low risk way to pick up ideas about the possibilities in the present market. These groups are mostly about investors helping each other as opposed to someone just trying to sell you something.

If you've got a renovating forumla that works and makes you profit, just try replicating that in Brisbane.  For example, do you renovate apartments for young professionals?  Do you renovate houses for families?  Do you renovate luxury houses for executives? What type of properties are making you the good returns?

Obviously we are in a down market, and it could be a challenge to not over-capitalise.  I doubt there would be much money in renovating cheaper first home buyers places because these buyers usually have a strict limit on how much they can spend.  On the other hand, upgraders and high income earners are more likely to compete for that well finished property and pay more than is required to get what they are looking for.

Hello Shanina,

There are a couple meet-up groups related to property that both Paul Derry and Matt Jones run here up in Brisbane and on the Gold Coast. You might wanted to network some of the members online as you can have their profile and see which ones renovating Brisbane.

Matt Jones …
http://www.meetup.com/BrisbanePropertyGroup/
http://www.meetup.com/GoldCoastPropertyGroup/

Paul Derry …
http://www.meetup.com/BrisbaneInvestors/

We renovate properties in the Brisbane region and currently this year we have done a few in Bald Hills, Redbank Plains, Wishart, Inala and Kingston. In another one of our businesses (Great Property Deals) we provided a renovator with a house at Kingston for $165,000, which they are going to renovate it and then rented out for about $310-$320 per week.

You can also jump on the Cherie Barber website as she now is a forum to see if anybody from Brisbane can answer your questions as well.

Hope this helps.

Regards,

Jason Moore

Hi Guys,

Does anyone have any experience with 'splitter' blocks in Brissy?

A mate was harping on about doing one in brissy and making good profit in the subdivision.

Hi Ichiban33,

When developing splitter blocks in Brisbane there is a lot of things you need to consider.

Below is the process I go through to determine if the project is viable when slitting a block for Building on splitter blocks in Brisbane development.

After identifying the block, I check the demolition control Precinct (DCP) if the house is built pre 1946 and if the block is on the flood map or any overland flow issues.

I then get the dimensions and run the costing of the project.

The things I look in a splitter block are:

• Cost of the site
• Demolition approval
• Demolition costs
• Services off (sewer and water)
• Location of services on the block
• Any other associated development costs
• Transfer and Legal costs
• Subdivision costs – Civil design, Town planning, public notices, council fees and any council contributions.
• Building construction costs
• Associated site costs (levelling and retaining)
• Marketing on the finish product

If all the figures add up to a profitable project….an educated decision can be made.

Thanking You

Built By Thomas