Hello everyone,
We have aquired IPs and done some small reno jobs and then rented out. I am now ready to bigger reno project say on a block of units but not sure on what are the steps/ skills/licences required to become a successful property developer?
Also has any one heard of owners builder licence? Is that useful to become a property developer?Appreciate the help,
Rich Mum
Depending on which State you are in i dont beleive you will be able to register as an "Owner Builder" in order to renovate a block of units.
More importantly have you considered how you will finance it?
Property development loans are a lot more rigorous in assessment than the mum or dad reno. You will probably need around 30% of hard costs and depending on the size of the project may even a percentage of pre-sales.
Richard Taylor | Australia's leading private lender
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