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Z sorry I missed this thread on the last round. I have completed one development previously, and as noted, you can read all about it. I learned a lot. Certainly Westminster brings more experience to the table than I do - but Im not a complete noob either. On my side of things between my...

They really do remind me of me... Sexy as hell! :p

'Final' floor plans are finished - just waiting for the elevations which should be ready promptly. Then we are off to council with our fingers crossed. There will probably be some changes required, as we are pushing the envelope some. But all in all very happy with the designs and concept...

Jezza Im not 100% on the terms, however, it looks kind of similar. Commercial lending is different to resi, the rules arent hard and fast (more used as a guide). 1) Given the small size (4units) pre-sales werent required. If we went bigger, they would most likely require it. 2) Im...

As WM said, wasnt too bad - however, that was largely due to the fact that my Brother is a commercial property banker. But he always plays in the big boys school, but still he "knew a guy". He also put in a lot of effort in writing up the proposal into a structure the bank knows and recognises...

Yep. cmon you lot... fess up. Who was it?

Well, it is good that we came through - but not without an uncomfortable weekend. How on earth I (we) can turn such an easy process into something so hard is beyond me. I sometimes wonder if it is me? Anyway, I think having a lawyer in early helped - even though I still fail in any way to...

Quoted for relevance. In some ways the 'knowledge' aspect is learned/acquired by doing. Neither of us were overly familiar with the area, but both got in and researched the area, market, sales, listings etc etc etc. So now we are pretty comfortable with the market. We are by no means...

Our net return wont be quite that high after all is said and done (GST, Tax, selling costs, etc etc etc). But yes, it will be a very healthy return, especially when looking at the return on investment (ie, what is the return on our own cash). Prior to commencing we developed, for want of a...

I maybe younger than Westminster. But I'm far far far more mature :eek: (She's going to kill me for that one.) I'm just turned 32. But look about 50. I've had a hard paper round :D WM maybe almost 40, but looks far younger than me.;) (Keep digging Blacky).

I think this is very important. Knowing what can fit onto a site. Im still learning in this regard, Westminster knows it well. Being able to look at a site, and clearly identify what can go onto it is a great asset. You are not 100% relying on a 3rd party to advise you. It saves a lot of...

I assume you are talking to Westminster in this regard? Not from me, I still have too much learning to do. Blacky

Im not sure if it is easier or harder doing it in JV. In some ways there are more people to share the work load, but somehow there seems to be more work... More signing, more documents, having to liaise with other people before doing anything etc. oh - and so far I haven't had to do too...

Are you a crazy as well? :D

As a bit of a way of background I was looking for another dev sight for myself. Westminster pointed me towards a sight in Coogee. Very close to the beach. Without viewing the property it looked like it might have worked ok. At the time I was still a long way from being ready, and week after...

Its just the two of us... We are trying to keep things simple - so the less people involved the better. We should be able to source the finance without the need to fund holding costs ourselves (int cap). In addition given there is only 4 units we shouldn't need any pre-sales. The...