Forum Replies Created
what sort of infomation are you after ?
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
your right in saying good development sites are had to find, and normally when you do find one there is a hell of a lot of other people that have found it also. In my case they always seem to have more money than me, or are willing to spend more on the property. OUCH!
As for how much land per unit/townhouse/villa, my suggestion is you talk to an architect and get them to help you with that as they would know the ins and outs of the council regulations. It also depends on what you want to build, 2 bedroom or 3 bedroom. There are so many factors to consider when looking at what is able to be built, its not all about land size. Thats why i suggest you have a chat to a friendly architect. He will not only make you aware of things to look at(apart from land size) but also give you a great indication of what can be built as he is THERE on the land you propose to build on. All a planner can do is give you guidelines, as he is not on the land itself and doesnt have a plan to go by.
hope this helps
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
hmmm i guess thats because there arn’t as many people looking to buy factories? then again the buildng costs are less.
or maybe im just wrong [blush2]
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
anyone out there?
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
lazy so and so’s the agents im dealing with dont even have certificae of totles on the properties im looking at !
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
sometimes you just feel the need to talk about your plans, for the simple reason to get them off your chest. BIG mistake! never again will i do that with people that know two hoots about investing. They mean well but in the end just dont understand what im trying to do, or why i’d be wanting to do it. Great advice guys. thankyou for the input.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
well im glad to see that im not the only one going through this, makes me feel a little better.
your correct in saying that the people that are saying these things are the ones that care. Which makes it a little harder to shrug the comments off.
i guess i have to look past that and say to myself that just because they dont have the willingness to go after such a project, doesnt mean it cant be done.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
Thats fantastic Jen, good on you for having the courage !
well done
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
the units would look quite nice once completed, planning on rendering the existing home to match up with the new one i will build
the area has a mixture of new and older homes.
Aspiring property developer
Giulio Taranto
few good options here. lots to think about.
thanks for the infoGR how are you ?
mind if you send me one of those speadsheets also?
i would really appriciate it
my email address isthanks in advance
Giulio Tarantocosts if i keep the existing house.
property 300k
reno (existing house) 20k
stamp duty 14k
architect 15k
construction cost 140k
selling cost 20k
loan/solic. cost 1k
intrest @ 7% 33ktotal cost 543k
resale value is what im unsure about.
existing renovated house 300k ?
new unit 360k
resale value 660kprofit 117k
does this look better?
my only consern is the value of the existing home after the 20k reno.
comments please dont be shy![biggrin]
[biggrin]Rick the house im thinking of isnt too attractive, timber house built 1950’s, BUT of course might still be an option, id have to have a closer look at the house itself.
Dr.X dont worry about giving me the truth if thats your opinion, thats what im here for, to listen to you all your opinions and make my own conclusion.
Mike, going to check out those links when i get the chance.
Thanks all
nope none at all.
do you ?
any that you could suggest ?ok well this is how i do my workings.
property 300k
demolish cost 8k
stamp duty 14k
architect 15k
construction cost 280k (2 units)
selling cost 20k
loan/solic. cost 1k
intrest @ 7% 41kTotal costs 679k
the resale price would be 360k per unit (worst case)
Ok developers this is how i work out my costs. Leaves me with 41k in pocket.
still have to pay CGT and GST
this deal seems pretty skinny to me. Remember this is a 12 month project)
what do you guys think of it ? comments pleaseRick, thats just fantastic. Congrats on the sale. Hope your next purchase is as good if not better than your last one.
well done
didnt think of the commercial side of it.
see what hapens when you talk to people! thats why i love this forum! opens your outlook on things. I know that it was a reletivly simple suggestion, but still i didnt think of it.ouch i feel your pain. thats a real shame, lets hope someone has some knowledge of what you can do in this situation.
testing its feasibility, this is the part i have most problems with, and in my opinion it is the most inportant part.
coming up the the idea through to managing the new project are steps that im quite comfortable with, EXCEPT testing the feaseabilty of the project.
Not having built before its hard to look at an appropriate block and know exactly all the costs you will be faced with in going through the whole process. GR i know you use programs to help you with this sort of thing, where do i find/buy these sort of products? Im sure they will be a huge help to me.When i look at a block i find myself estimating costs. This isnt the way to do things.
For example, how do i know how much a 3 bedroom unit will cost me to build if i havent bought the land so the architect can take a close look at it, then draw up the plans to show the builder ? This is where i start estimating!
any advice in how i can draw up some sort of feaseability report future projects would be great.
thanks for your replies
Kind regardsgrats Dazz your advice is always a great read
[biggrin]
