I have a couple of sites which I am currently getting plans and permits together to onsell.
Site 1 - 8 units, Cost $597,000, with plans and permits will sell for $960,000.
Site 2 - 4 units, Cost $300,000, with plans and permits will sell for $500,000.
Instead of selling both, which was my initial plan I thought I could possibly sell to a builder and workout a plan where I keep a couple unencumbered from each site.
I have no idea how this could work or whether there are builders interested in this type of arrangement, but it could be a win/win.
I can not do the developments myself as the properties are in Melb and I am in Perth, no experience in multiple developments and funding these could be a major issue. My situation may change over the next 12 months, but at the moment I am looking at all options including minimising my risk.
I would be interested in anyone who has made similar type of arrangement with builder to give me some tips.
Cheers, MTR
Site 1 - 8 units, Cost $597,000, with plans and permits will sell for $960,000.
Site 2 - 4 units, Cost $300,000, with plans and permits will sell for $500,000.
Instead of selling both, which was my initial plan I thought I could possibly sell to a builder and workout a plan where I keep a couple unencumbered from each site.
I have no idea how this could work or whether there are builders interested in this type of arrangement, but it could be a win/win.
I can not do the developments myself as the properties are in Melb and I am in Perth, no experience in multiple developments and funding these could be a major issue. My situation may change over the next 12 months, but at the moment I am looking at all options including minimising my risk.
I would be interested in anyone who has made similar type of arrangement with builder to give me some tips.
Cheers, MTR
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