Your Ideas wanted on which way to go!

Viewing 5 posts - 1 through 5 (of 5 total)

cyberman
Member
@cyberman
Join Date: 2004
Post Count: 14
February 24, 2007 - 8:33 am
Hi, I need some Ideas and advice on which way to go with my
property Investing.
I currently have a double block of land which is consolidated
into one title.
My Idea is to build 4 units on this block
1. What I need to know is how much roughly would it cost for
the subdivsion of the land ?
2. How much would it roughly cost to build 4 units
3. Should I build as an owner builder and use subbies …or
should I use a registered builder ?
4. What is the best way to finance such a project ?
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 24, 2007 - 9:07 am
Cyber
As a guide line I would suggest as follows:
1) This wil depend on the requirement of the Local Council Authority and what applications you need to lodge.
You will be up for your surveyors and Town planners costs and then the Council fees and contributions.
2) All depends on the size and whether they are single or double storey. For something basic i think you could probably work on around $800 / Sq Metre.
3) To finance them at a comeptive interest rate you will definately need to have a registered builder construct them.
4) Normally such a project will be finance on GR values and you maybe able to get maximum 75/80% on this. Would need a lot mroe information to make a comment on this.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.
Richard Taylor | Australia's leading private lender
cyberman
Member
@cyberman
Join Date: 2004
Post Count: 14
February 24, 2007 - 9:27 am
what are GR values?
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 24, 2007 - 9:40 am
GR = Gross Realisation or end valuations
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.
Richard Taylor | Australia's leading private lender
cyberman
Member
@cyberman
Join Date: 2004
Post Count: 14
February 24, 2007 - 9:52 am
another question would be what type and size of unit to build?
for rental purposes I guess single storey 2 bedrooms might be
the most ecconomical to get the best return on Investment.
btw The property is located in Montmorency Melbourne