I know it's a lot more complicated then my analysis but I want to clarify/emphasise how bad this site is?
Site with plans for 7 x 3 bdr townhouse + 3x2bdr townhouse dbl storey, outer Brisbane
Asking 850k, been on the market for a while including failed auction
Agent claims 340k/310k for 3/2 bdr sales
Going ultra conservative on all fronts, assume 310k/280k inc gst (ignoring marginal scheme)
Assume $1300 per Sqm
Assume 120sqm
Total costs:
Land 850
Construction 1560 inc extras
Interest 240
Agents fees 68
Misc 50
Total 2766
Total sales: 2736 ex gst
Net profit: LOSS of $30k
Surely who would buy a site like this??
Site with plans for 7 x 3 bdr townhouse + 3x2bdr townhouse dbl storey, outer Brisbane
Asking 850k, been on the market for a while including failed auction
Agent claims 340k/310k for 3/2 bdr sales
Going ultra conservative on all fronts, assume 310k/280k inc gst (ignoring marginal scheme)
Assume $1300 per Sqm
Assume 120sqm
Total costs:
Land 850
Construction 1560 inc extras
Interest 240
Agents fees 68
Misc 50
Total 2766
Total sales: 2736 ex gst
Net profit: LOSS of $30k
Surely who would buy a site like this??
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