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Quick Update: Finance has been approved with a fairly quick turn around of 10 days. I've been advised to stick with a lender who will do residential construction for up to 4 units. Stayed away from costly commercial lending and dont need any pre sales. Letter has been sent off to...

The site could possibly support 2 group dwellings but I would expect this to loose money with out crunching the numbers. Mind you 2 blocks in Bayswater of around 200sqm. would have to be worth $250k - $299k as a gut feel. The question would be if you could sell then with the tight size...

Westminster: I'm thinking about the new Rcodes allowing for a basement to be 'free' plot ratio. We will see how the $$ go with the project. It's a 12.5m frontage. perthguy: And you're 350m from a train station which is a 13min journey into the CBD. Aaron & Sanj: Totally agree! Dazz: Maybe...

Update #1 (6/2/2014) Started looking into Due Diligence on the site and come across an interesting 'hiccup'. Vacant blocks can be heritage listed despite their being nothing to protect on the site. This block is on the Local Council's municipal registry as a classification 4 (one of the...

HD_ACE: I have a 3 month head start due to a delayed settlement and I have allowed for an additional 3 months in my feasibility. Officially, I think it should be around 24 months. mrdobalina: $460k is always a guess in 2 years. However if the apartments selling are anything near the asking...

Market Intel data: http://www.realestate.com.au/property-apartment-wa-bayswater-115800535 http://www.realestate.com.au/property-apartment-wa-bayswater-115566067 http://www.realestate.com.au/property-apartment-wa-bayswater-115800923

I've decided to write an ongoing post similar to what other 'somersoftians' (westminster :)) have done in the past to share some information and help build knowledge for everyone. After some quick negotiations on Friday I am happy to announce I am the new owner of (subject to Due Diligence)...