Duplex Project - Number 5

[redwing]

Good lord RS, you've gotta be quick checking on this thread of yours, leave it too long between visits and you'll have started on another one!
Well done, and thanks for all the reporting, very inspirational.

I thought exactly the same

It didn't seem that long ago I was looking at photos of the block

Maybe you can eek out a second career as a Project Manager Rock Star

 

[Thunder]

You are a Rockstar!

thanks for the thread Rockstar, I'm cheering you on from my drab cubical at work! Love you're attitude mate, it's inspired!

 

[Rockstar]

Maybe you can eek out a second career as a Project Manager Rock Star

Great idea Red. Now I've done my back in I might need to.

Bit of sciatica in lower back has plagued me for the past week but things are rolling on ok. Inside is getting close with some plumbing, painting and carpets to finish off.

Landscaping is underway (slow with bad back) and stairs are close to done. Here are some shots of the hardwood stairs being lifted into position. Lucky to have a precision chippy. Perfect fit!

 

[Rockstar]

Some landscaping shots of backyard leveling. Retaining walls (cut and fill) are a necessary part of sloping sites if you want some level open space. Sleeper wall for the fill and I will do fake rock in the cut - once the back improves.

 

[Rockstar]

Fencing was done over last 2 days. Amazing how a fence can define an area and make it appear larger than one expected.

 

[Rockstar]

Got a bit slack with the posting but need to report the important update. Final occupancy cert was given a couple of weeks ago.

Accepted an offer on the corner unit today of 352k. We will come out with around 340k if the contract goes through. Will be subject to registration of strata plan which normally takes around 8 weeks. Purchasers have pre aproval for the funds so it's looking positive. We have moved into the other duplex unit and are on the hunt for our next project. Quite a few good opportunities around at present.

 

[tvadera]

Well Done Rockstar, would be eager to hear more about your next project. all the best.

 

[Rockstar]

Well Done Rockstar, would be eager to hear more about your next project. all the best.

Thanks, I can't stop thinking about it.

Healthy addiction I guess.

 

[clamp23]

Great work rockstar, awesome effort to stick to your time frame.
All the best for the next one!

 

[Rockstar]

Thanks Clamp.

Due to exchange today for 352k and contract will be unconditional (apart from rego of title) Pest and building was done a couple of weeks ago and I got to see a cool thermal imaging camera which looks through walls to see termites and water leaks. Inspector said his was a cheapie at 9k.

Strata due of council early next week and then it's off to the LPMA for registration. Settlement should be in around 4 - 6 weeks.

Still looking for next venture and will be submitting some offers this afternoon.

 

[activeman]

Very impressive! Thanks for posting.

 

[Doovalacky]

Maybe you can eek out a second career as a Project Manager Rock Star

Doing a better job than a certain project manager I am dealing with. 9 months now still not finished. Latest ****up was forgetting the gas line to the duplex.

Done an impressive job indeed.

 

[Nemo30]

Ive really enjoyed this thread. Have you got any pictures of the finished houses?

 

[Rockstar]

Glad you enjoyed it Nemo. Here are a couple. Also you can check some of the agents pics.

 

[chindonly]

Well done RS.. Great stuff!

 

[matto_]

I am with others.

Thanks for your thorough and comprehensive sharing of information on your project. Much appreciated.

 

[redwing]

Just finished playing catch up on this thread

Great work !

When are you starting the next Thread/Project

 

[Rockstar]

Just finished playing catch up on this thread

Great work !

When are you starting the next Thread/Project

We've just purchased land for the next project Redwing.

Just adding an update. We have settled on the corner unit @ 352k and have a buyer for the unit we have moved into @ 375k. We are aiming to settle before Xmas. The buyer is happy to lease the unit back to us for 6 - 8 mths @ 350/wk while we build our next houses. The most likely scenario is to move into one of the new units.

Profits on this project are looking to be around the 200k mark. 1st gst bill is due on Feb 28 @ around 9.8k. 2nd unit will be a bit more due to higher sale price. A bit of a worry about 2012-13 tax bill since we are selling both inside a financial year though it won't be due until March 2014.

Our goal is to carry out 2 duplex projects this year - the first of which I will begin a thread on soon.

Thanks for all of your interest.

 

[devank]

This is one of the best thread I followed. You are truly a star! Thank you for sharing. Looking forward to your next project.

 

[baby blue eyes]

Thanks for sharing... Really inspiring