Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Erica;1239000I have now employed Weeks and Macklin [/QUOTE said:I will be interested to see what they quote regarding your footing allowance.They are notorious at screwing extra dollars out for extra footings.
I will be interested to see what they quote regarding your footing allowance.They are notorious at screwing extra dollars out for extra footings.
THats extremely cheap, what's the catch? thehey must be making money elsewhere on your project
true that, my slab was underquoted by $12k for the last build, but I don't plan to build this one, I'm just onselling this block as a house and land package, I went with Weeks building group because they offer free advertising and free agent for selling if they get a build contract out of it
How does this work though with settlement?
Hi Erica
Fantastic thread. Love your candid account of your project.
I recently did a small renovation to my first investment property. Much less capital outlay / scale / risk compared to you, but I still found it very challenging at times. It's great to hear about your plan, how you are executing it and not letting obstacles get to you.
I saw your revised figure which estimated your gain at $55k. I note the purchase price is around $450k, so that's just over 10% profit? I'm not sure what the market is like in your area, but in Sydney you can probably achieve 10% return a year just by holding it if you pick the right area and if you refinance it at the end of the year (rather than sell) you don't need to pay tax. Just a random thought. I've probably missed taking into account a whole bunch of other costs and it might not be feasible for you to buy in Sydney. I love what you are doing. I've always dreamt of taking on a development project like yours. I wish you all the very best of luck and hope you make lots more profit than your current conservative estimate
Look forward to more updates and can't wait to check out the final result.
Cheers
but in Sydney you can probably achieve 10% return a year just by holding it
Ouch sorry to hear. Have you calculated how much profit will be after gst and selling costs?
We're there unexpected events with the reno or was it just under budgeted in hindsight?