Hi everyone,
Could you please assist me in understanding the REAL costs involved and what you take into consideration for a deal.
Purchase price
GST
Closing costs
Stamp duty
Gov Charges
Legals
Borrowing costs ( does this include iterest paid over the time it takes to develop ?)
Settlement Adjustments
Building pest inspectiosn
soil test
Service connection
Repairs
Sub division cost
Development cost
Advertising fees
Rental on existing property.So my question is if a cost is EG. $450 purchase price , $250 Build and add on all others where do you find your bottom line ?
I know I keep asking this but I feel like there is something I have not considered or have I included too much to decide if the project is valid ?
I would be using a professional to help me subdivide the project also.
Thanks
Simone
Hi Simone,
You will get a better answer if you identify which state you are located/investing in. Some of the charges above are state based and vary from state to state.
From the sounds of it, you are not a developer, but are looking to do some sort of developing.
Word of advice, no matter how many numbers we give you to help you figure out your costs, your costs will blow out. I've been in the Real Estate game for almost 20 years, and I would get involved with developing for quids.Just be VERY careful and it would want to be really worth it to do it.
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