Hi,
I am very new to this site, and to forums in general, but here goes!
I have always wanted to one day be involved in a small development project, and have been researching the concept for about a year now.
I have found a block of land on Sydney's Northern Beaches (where we currently rent) that is zoned Medium Density (Multi-unit housing), and is a walk to the beach. It's a small block with an old house that would fit two townhouses comfortably. I have spoken to many builders and have estimated project costs for building. It seems no matter which way I do the sums - including council submissions etc - it would be an excellent investment, and an excellent way to end up with a four bedder with some yard at unit cost. However the only way I can do this is with an investment partner who would also like to build a townhouse on the Northern Beaches!
Does anyone have any advice? Is this something I could perhaps advertise? Are there investment facilitators or similar concepts around? Could a tender work?
And also, am I overly ambitious considering this as a first project? I am VERY motivated.
Thanks!!
Em
I am very new to this site, and to forums in general, but here goes!
I have always wanted to one day be involved in a small development project, and have been researching the concept for about a year now.
I have found a block of land on Sydney's Northern Beaches (where we currently rent) that is zoned Medium Density (Multi-unit housing), and is a walk to the beach. It's a small block with an old house that would fit two townhouses comfortably. I have spoken to many builders and have estimated project costs for building. It seems no matter which way I do the sums - including council submissions etc - it would be an excellent investment, and an excellent way to end up with a four bedder with some yard at unit cost. However the only way I can do this is with an investment partner who would also like to build a townhouse on the Northern Beaches!
Does anyone have any advice? Is this something I could perhaps advertise? Are there investment facilitators or similar concepts around? Could a tender work?
And also, am I overly ambitious considering this as a first project? I am VERY motivated.
Thanks!!
Em