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Fair enough, if you think you can get $2m and your margins work out, then go for it, but I'd hate for you to budget on getting $2m, but you only end up getting say $1.8 or 1.9m, there goes most of your profit.

Can you really get $2m for a townhouse in Richmond? Richmond isn't Albert Park or South Yarra, or even Carlton or Fitzroy. I reckon the kind of people that would buy a $2m townhouse are probably downsizing from their family home in Hawthorn/Balwyn/Kew/Canterbury etc, Richmond might be a bit too...