Hi all
I purchased a couple of houses next to each other with a view of developing 6-7 units, I have just been advised by my architect that it is an 8 unit site.
I am currently looking at all options.
Easiest option would be to prepare a DA for 8 unit development. No risk and in today's market should make 35% profit, I would sell after 12 months and could channel funds into other smaller developments.
I also would like to look at the option of keeping 4 and selling 4 off the plan as it would offer excellent cash flow and could access some equity relatively quickly.
I do have some concerns as I have no experience in this size project (8 units).
Would like some feedback on anyone who has gone down the road of selling off the plan. The good and bad.
Cheers, and thanks MTR
I purchased a couple of houses next to each other with a view of developing 6-7 units, I have just been advised by my architect that it is an 8 unit site.
I am currently looking at all options.
Easiest option would be to prepare a DA for 8 unit development. No risk and in today's market should make 35% profit, I would sell after 12 months and could channel funds into other smaller developments.
I also would like to look at the option of keeping 4 and selling 4 off the plan as it would offer excellent cash flow and could access some equity relatively quickly.
I do have some concerns as I have no experience in this size project (8 units).
Would like some feedback on anyone who has gone down the road of selling off the plan. The good and bad.
Cheers, and thanks MTR