澳洲Australia property 42 unit development | Sydney


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


Currently working on a 42 unit deal worth around $4m gross profit. Need advice on weather to sell the deal or find a jv partner to fund the project. DA approval done and build quite being completed now, any advice?  

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glenfin said: ↑
Currently working on a 42 unit deal worth around $4m gross profit. Need advice on weather to sell the deal or find a jv partner to fund the project. DA approval done and build quite being completed now, any advice?Click to expand...
Is this unit development complete,and what is the location,and who worked out the 4 mill profit range?..  

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You can't finance it yourself? What's the issue?  

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Nice work, where is the development and what return on costs will it provide?  

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Located in yeppoon qld. $8.1m total build and land sale price of $299,000 per unit @ 42 = $12.5m. Roughly $4m gross profit,  

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glenfin said: ↑
Located in yeppoon qld. $8.1m total build and land sale price of $299,000 per unit @ 42 = $12.5m. Roughly $4m gross profit,Click to expand...
Are you building on it? If so you will need to pay GST which will severely dent your profit.  

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Currently have the land on option, need help on where to go from here. JV or sell off the deal  

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glenfin said: ↑
Located in yeppoon qld. $8.1m total build and land sale price of $299,000 per unit @ 42 = $12.5m. Roughly $4m gross profit,Click to expand...
So you have 42 units all the same price,all the same plan,in Yeppoon all i can say is good luck,..  

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Yes we are building on it, obviously we will claim back Gst on the build to help offset or Gst bill  

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This is just a guideline, to give some info to what I'm doing. There are different plans and pricing Per unit, but $299,000 is an average.  

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Any advice??  

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You haven't answered my question - why aren't you doing it yourself? Lack of funds?  

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Aaron_C said: ↑
You haven't answered my question - why aren't you doing it yourself? Lack of funds?Click to expand...
Sorry yes, lack of funds  

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Was think about GVR finance but not to sure I will get funding  

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glenfin said: ↑
Any advice??Click to expand...
How long has the DA been in place,and what is the land area,and how long does the option last for,for someone to come in on something like this you would want too have every question covered.  

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Hmmm for a development of that size you will need to demonstrate sufficient pre-sales to cover peak debt. Peak debt would be the finance required to purchase/refinance the land and building costs, plus capitalised interest over the 2-3 years of the development.

Given the information you've told us, you would need to sell probably around 30 units in order to get funding.

The main benefit from getting a JV partner would be to reduce the amount of money you need to borrow from the bank, therefore requiring less presales to trigger approval.  

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willair said: ↑
How long has the DA been in place,and what is the land area,and how long does the option last for,for someone to come in on something like this you would want too have every question covered.Click to expand...
DA in place 6 months , option still for 12 months and land area of 9800sqm  

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Aaron_C said: ↑
Hmmm for a development of that size you will need to demonstrate sufficient pre-sales to cover peak debt. Peak debt would be the finance required to purchase/refinance the land and building costs, plus capitalised interest over the 2-3 years of the development.

Given the information you've told us, you would need to sell probably around 30 units in order to get funding.

The main benefit from getting a JV partner would be to reduce the amount of money you need to borrow from the bank, therefore requiring less presales to trigger approval.Click to expand...
Thanks for the advice, something we can talk about via email later. Thanks I will be in touch.  

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If it was down the road a bit in Gladstone it would be a different story, but in Yeppoon, I'd suggest don't get too greedy, maybe offer for a max $1 million profit on the deal. Leaves the builder with $9 million build cost and $3 million profit for taking that risk.

Could you do a large number of presales before it runs out?
What is your target market?  

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glenfin said: ↑
DA in place 6 months , option still for 12 months and land area of 9800sqmClick to expand...
I see a lot of this type in Sat's Courier Mail in QLD,maybe run a add in the paper and see what comes in,you will learn a lot from a simple add like that and the people that will ring up with various ideas,good luck..  

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