Hello all,
I just spoke to our Real Estate agent. I got great news from the broker last week that we joint could borrow 600K with my partner b/c of the equity we have...
?what to do with the money. Our block we hv in Glenroy which is aprox 640sqm is on a corner with a house on the front.
He believes we should be able to build inc subdivision costs for around $150K.??? with a return of 300p/w, the house returns 260 p/w with no mortgage. so all up would be close to cashflow postive.
I have been told a friend should cost around the 170-180K mark.
What is the realistic cost to build a unit on say 320 sqm block. A decent finish which will last the test of time. What are the subdivision costs?
My plan would be to build, rent the two out, pay a sufficient amount off the mortgage then in 3yrs buy the next.....
Once I have a rough estimate - who would be the best / first person to speak to ...
Have others done similar in this area or in other close areas....
I just spoke to our Real Estate agent. I got great news from the broker last week that we joint could borrow 600K with my partner b/c of the equity we have...
?what to do with the money. Our block we hv in Glenroy which is aprox 640sqm is on a corner with a house on the front.
He believes we should be able to build inc subdivision costs for around $150K.??? with a return of 300p/w, the house returns 260 p/w with no mortgage. so all up would be close to cashflow postive.
I have been told a friend should cost around the 170-180K mark.
What is the realistic cost to build a unit on say 320 sqm block. A decent finish which will last the test of time. What are the subdivision costs?
My plan would be to build, rent the two out, pay a sufficient amount off the mortgage then in 3yrs buy the next.....
Once I have a rough estimate - who would be the best / first person to speak to ...
Have others done similar in this area or in other close areas....
