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Inner Bris Development

Discussion in 'Real Estate' started by Jane, 24th Nov, 2005.

  1. Jane

    Jane Active Member

    Joined:
    16th Aug, 2005
    Posts:
    36
    Hi guys,

    Thought I'd get on and post what I'm up to presently (I did post a question also a couple of days ago re the same project). This is like a chronology of the process.

    I'm developing a property in Wooloowin (with partners), multi-unit dwelling. It has an old large queenslander in great nic which has to stay but is being moved and modified and lifted. Then we're building a duplex (ie two townhouses). The land is on a corner site so all dwellings are able to have their own street frontage.

    The queenslander will be a 4 br 2.5 bath, highset, modern kitchen, bathroom etc whilst retaining all the old features like breezeways, vjs, floor boards and a very wide hallway running down the middle of the first floor.

    The duplexes are rendered brick and hardiplank type, 3 bedrooms, 2.5bathrooms, slug.

    I've done a lot of research on the sales market (as always) and am fine tuning design and finishes to suit.

    We're currently preparing a builders contract and to start work within the next 6 weeks and to be completed by May 2005. Exciting!

    It's an interesting process (not for everyone, I know) but I love it. Heaps of paperwork and negotiation (love that too) and reports and analysis that all need to fit together like a jigsaw puzzle. I particularly love the design part - ie finding out what the market wants and then building it that way (within reason). That part's just about started and I'll be in my element.

    I'll let you know how it goes.

    Cheers
    Jane
     
  2. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    Thanks Jane

    Sounds like an exciting project!

    I reckon we'd all learn a great deal if you're able to keep us updated on your progress, trips, traps and tricks.

    Cheers
    N.
     
  3. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hey Jane :)
    Looking forward to a "Blog" type version of how it all goes. This should be a great way for those of us who haven't yet developed to see how it all should happen, step by step.

    For the benefit of those who don't know you, can you firstly outline the key elements of what you firstly look for in a dvpt of this kind?
    What type of research do you carry out in order to ensure that you're going to take out a profit on each project?
     
  4. Jane

    Jane Active Member

    Joined:
    16th Aug, 2005
    Posts:
    36
    Hiya Jacque,

    First thing - what's a "blog"? Sorry to sound stupid.

    I'll fill you in bits and pieces along the way as there is soooooooooo much to tell with regard to research, planning, interviewing prospective builders and specialists, but basically as follows.

    I'm in partnership with this one so was great to follow this process.

    1. Set financial boundaries - ie what we wanted to afford
    2. Set profit margin we wanted to achieve (great discussion in the market)
    3. What we wanted to do ie multi unit, splitter, new, old etc.
    4. Research - area and streets that meet the criteria. (This involves a lot of leg and ear work, visiting, statistics, research on the internet and discussions.)
    5. Once found the right property, built this into the budget which set the purchase price - negotiated away, with this one and others.
    6. Specialists - ie architects, surveyors, managers, finance (first), builders

    And lots more, but that's all for now as I have to go and pick up small-fry. Please, someone remind me if I don't followup in the next week.

    Cheers
    Jane
     
  5. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    A blog is like a diary account- similar to reading updates in a journal like format. Sim' is the expert on these here :)
    Looking forward to hearing the progress reports on how it's all going.