Forums / Property Investing / Creative Investing / ~~~~~INVESTMENT PARTNER NEEDED FOR BRILLIANT RETURN ASAP~~~~~

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  • Roger Branch
    Participant
    @roger-branch
    Join Date: 2015
    Post Count: 1

    REQUIREMENT: $400,000 and ability to service a $2,000,000 bank loan for 12-18 months
    PURPOSE: To purchase a 1350 sq m block of land
    Location: Malvern East, VIC, 13 km from CBD
    Property Features:
    Zoned Residential Growth Schedule 1. Allowed height up to 13.5 m
    Property is on an arterial road
    Located 500 m from Chadstone Shopping Center, the largest shopping center in the Southern Hemisphere
    Economy: Average house price is $1.2 million in the suburb
    Economy: Chadstone is undergoing a $480 million expansion. Estimates are for another 3000 permanent jobs
    Walk score of 72 (very walkable)
    Distance to train station 750m
    Distance to TAFE 400m
    Project Plan:
    Purchase the property for approx. $3.4 million
    Secure planning approval for a four-storey apartment block with underground parking (estimated cost $240,000)
    Initial consultation with Council was very positive. Proposed idea is within guidelines for RGZ zoning
    Initial consultation with Architect resulted in an estimated 32 units in the development
    Exit Strategies:
    (1) Sell the land with Planning Approval for an estimated $5 million. Estimated net profit of $1,637,000
    (2) Sell units off the plan and secure development financing to construct the proposed building for a total project cost of $10,051,000 (ex land) and estimated net profit of $4,409,000

    • This topic was modified 4 years, 6 months ago by  Roger Branch.
    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618

    buy $3,400,000 , stamp duty $187,000, planning fees $240,000 sel for $5,000,000 profit exit strategy 1 is $1,173,000 not $1,637,000.

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