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Turns out I had the yeild wrong - $110k to build, $280pw gross - so the real figures are actually *better*. Anyway we've negotiated progress payment plans with some of the folks involved and have about half of the subdivision paid for now so this thread is moot, it looks like we can do it...

Never heard of projected profit ... the original idea was to build there ourselves, so only $100k to build a brand new place grossing $200+pw which is a lovely yield but I've been told we can't get a loan to build (let alone be able to lodge the building DA) without the subdivision forms lodged...

I'm just curious and thought I'd put this out there to see if anyone is interested. I'm not desperate but this would solve some of our problems. We have a 1400sqm block of land with a house on it, we're living in the house but it is a shoebox (did I say shoebox? Its actually really nice...