My new Sydney development site

Hi RJ,

I've been a bit slack lately on the development front. I've been focussing on my MBA Executive Year and have just finished my major assignment for the first half. I start again in Feb and finish once and for all by May 2007.

But I have organised for a surveyor to do a fully worked survey of the site including contours, setbacks, adjoining buildings and windows etc. I've got a detailed survey request form that I'll post along with the survey results when completed. Once we've done that we can go to our selected architect and finally get some drawings done up.

I also did go and meet a quantity surveyor and talk to one other about my cost assumptions to firm up the costs. Seems I'm pretty close to the money. I've also spoken to two banks for preliminary funding discussions. I really liked the feel of St George so might go with them.

Still early days, and with Christmas coming up we might struggle to make too much headway until the new year. But I'll keep you all posted as soon as something happens.

Cheers,
Michael.

 

Thanks for the heads up Mike. Good to see things are still progressing. Im keen on watching this thread for updates. No longer over at the "other" forum for reasons I wont go into - so be sure to post up some photos and information.

If I dont see/hear you before then have a great xmas buddy.

RJ

 

Hi Michael,

Great to hear your progress and thanks for the link to follow what you've been doing the last year or so. I've been lazy not getting much time to post on here because of my development, but that's over now and feeling already a bit relaxed (although am buying another number on the Gold Coast that came my way).

Keep us posted.

I also went through architects, town planners etc, but the most valued one was a quantity surveyor that was used to qualify the construction loan amount with the lender; I was confident then that I was being charged the right amount.

At the end of this project, we've sold two and kept one, as part of the overall strategy is always to hold and access equity, which is what we are doing now.

Reading Jacque's etcs post earlier about agents, yes, my experience is that initially I respond to an ad, then I condition the agent into what I'm looking for, then I contact constantly, persistently, then I finally hear "Yes, Jane, you are on the top of my list to ring when it comes through". They already know who I am. Heh, heh. I feel a bit annoying, but, hey, they don't care as long as they have a sale, and the great thing about doing it this way is that I've got lots of time to do due diligence before a property comes up.

Hope this helps someone. BTW, I still consider myself a novice at this stuff.

Cheers
Jane