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Thought you were o/seas, never let that stop you jumping on SS;)

One in West Syd which is booming and the other was in Perth which was OK but not as good as expected, and getting another one today in Perth and am very worried about this one because its over 1.5M not sure what it will come in at cos this market has not faired well over the last 5 years...

Yes, I totally understand this. Bank valuations, I know all about it, just had 2 vals and very disappointing, both in boom areas and they came under what I expected. Look forward to more of your posts. Cheers MTR

Hi Dave Thanks for posting the figures, I think what you are doing is very gutsy, good for you. Check out the Cobham in this link, apparently one of these villas sold close to $550,000 achieved highest price in Nollamara, this is not double storey but the spec is outstanding...

Hi HA Dave purchased the block at a great price, I suspect at the time of purchase villas (3x2) in Nollamara were not selling for anywhere close to $500,000, perhaps its time to revisit/review all the options. I can not tell you how many times I have done this, working through the process...

Not to mention the additional layer of risk, and you are not in and out, the smaller builders are taking 5-6 months to complete the builds, do the 3 villas and move onto another project, quick turnover. Multi developments have no idea but expect at least 18 months from beginning to end???

Hi Sanj I think you hit the nail on the head, I was just sitting down working through this. If you build the right units, excellent specs they will actually achieve $500,000 in Nollamara, we are talking stone bench tops and plenty of 'x' factor around $600,000 total build, including site works...

Dave, How long will it take to complete the project. Is this right, you do the first 3 rear builds then access equity for the front 3. so will you rent the rear units on completion after demolishing the front property?? Reduce holding costs? Cheers MTR

I think you did well, I am sure you still had some competition. Good luck buying the next one though, its pretty tough you are competing with the builders who get first pick from their RE agent friends.... its "you scratch my back I scratch back"

Nothing wrong with this, helps you move forward, very creative:) As I mentioned hard to get the deve sites, last block in Nollamara that was for sale only a couple of weeks ago, sold on first open with 9 offers on the table 728 sqm, $560,000, I am not really sure how the figures would stack...

Hi DaveH Great stuff. I am doing it a little different to you, I am building 2 developments sites pa and should end up with around $450,000 in equity. I am not sure how many I will hold or sell, but for me selling is important so I can create strong cash flow/income streams. Its also nice to...

Wow, all this on 728 sqm is that right? I like the design, simple but works. The builder I may be using builds mainly in Nollamara and he too is currently building multi units. A couple of questions, you are holding I am assuming it will be cash flow positive... nice. The profit...