Jack is a repeat client. He is a highly successful, well-financed executive who loves property but doesn’t have the time to invest fully in a development. We fit really well as JV Partners.
Originally asking over $3m, the vendors of this property mucked around for months (multiple siblings, deceased estate) and the agent was about to throw in the towel. I started talking to him when it was at $2.7m and when it finally hit $2.4m I said there is interest. After a few weeks haggling, we secured it for $2.125m on a long settlement.
Prior to purchasing, I had plotted all the trees, measured their protection areas, and got advice from a good arborist. An architect I’d known for years helped me development a concept for a very awkward block. And, a top town planner provided some good advice. Once we secured the property, we began the hard slog with Council.
Ultimately, they granted us a permit for 8 large houses. We completed all construction documents and appointed a top local agent to manage a sales campaign.
Quiet, leafy, family-oriented with top schools and shops
3057m2 highly irregular shape with vegetation
Two uninhabitable weatherboards
up to $2.250m
Private Sale for nearly a year
House $1.000m | Unit $0.732m
8.1% p.a. over last 10 years
Popular with affluent families; proximity to important infrastructure and amenities; top schools
Excellent value for money $/m2; long settlement; clear profitability with right design; min capital required
Negotiate effectively with Council for 8 townhouses and on-sell as build ready
27 months from purchase to on-sale
$2.725m inc full construction docs
Sold Permitted Site N/A
Harvey is a big earner, building a portfolio of negatively geared properties with value-add
Price : $1.850m
Location : Blue chip, affluent, close to hospitals, transport, shops and parks
Scope : 3 large, quality, detached houses
Profit : $0.900m
Return on Cash : 48%
Jim semi-retired from finance young and is building an impressive portfolio
Price : $0.950m
Location : Urban, gentrifying, with good transport and access to CBD
Scope : 4 attached street-facing townhouses
Profit : $0.475m
Return on Cash : 45%
D&Z are successful medicos building a portfolio with future value add.
Price : $2.000m
Location : Vibrant suburb with gentrifying High Street close to CBD
Scope : Rent for years, then build 8 to retain
Profit : $1.070m
Return on Cash : 42%