1 house into 6 houses and 6 incomes

Discussion in 'Investor Stories & Showcase' started by YourPD, 26th Sep, 2020.

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  1. YourPD

    YourPD Member

    Joined:
    27th Sep, 2017
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    Location:
    sydney
    We recently completed this project and wanted to share some photos and numbers.
    This was a 24 month project in NSW where we kept the existing house and built 5 new townhouses at the back.
    This was a low risk high return strategy where we renovated the existing house and turned 1 into 6 lots.
    The end result:
    1 house into 6 houses and 6 incomes. [​IMG][​IMG]
    Positive cashflow 48k/year and Manufactured Growth 540k.
    28% ROI on total development cost.
     
    Last edited by a moderator: 26th Sep, 2020
    YourPD, 26th Sep, 2020
    #1
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  2. YourPD

    YourPD Member

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    Location:
    sydney
    Some photos...
     

    Attached Files:

    YourPD, 26th Sep, 2020
    #2
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  3. BunnyXiao

    BunnyXiao Well-Known Member

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    Estonia
    What an amazing story. Thank you for sharing it
     
    BunnyXiao, 26th Sep, 2020
    #3
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  4. Rich2011

    Rich2011 Well-Known Member

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    Brisbane
    Looks good.
    Original purchase price for the house?
    What were the total development costs?
     
    Rich2011, 26th Sep, 2020
    #4
  5. mr_alex

    mr_alex Well-Known Member

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    Gold Coast
    Awesome! What was the zoning and council hoops you needed to jump through?
    And I thought a GF was an awesome cashflow strategy.
     
    mr_alex, 26th Sep, 2020
    #5
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  6. Toby

    Toby Well-Known Member

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    What size was the lot?
     
    Toby, 26th Sep, 2020
    #6
  7. Lacrim

    Lacrim Well-Known Member

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    Can you tell is which suburb?
     
    Lacrim, 26th Sep, 2020
    #7
  8. Jamesaurus

    Jamesaurus Well-Known Member

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    Canberra
    Did you live in the existing house? New paint job looks good on it!

    Which area?
     
    Jamesaurus, 27th Sep, 2020
    #8
  9. wombat777

    wombat777 Well-Known Member

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    On a Capital and Income Growth Safari
    I'm interested in the build cost per dwelling. These look like 2 bedders. How many bathrooms?
     
    wombat777, 27th Sep, 2020
    #9
  10. Anthony416

    Anthony416 Well-Known Member

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    Looks great, look forward to some of those answers.
     
    Anthony416, 28th Sep, 2020
    #10
  11. YourPD

    YourPD Member

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    Location:
    sydney
    Site bought 3 years ago for 455k
    Total development cost is $2M
     
    YourPD, 28th Sep, 2020
    #11
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  12. YourPD

    YourPD Member

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    Location:
    sydney
    1439m2
     
    YourPD, 28th Sep, 2020
    #12
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  13. YourPD

    YourPD Member

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    Location:
    sydney
    Regional NSW
     
    YourPD, 28th Sep, 2020
    #13
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  14. YourPD

    YourPD Member

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    no. it was rented out.
     
    YourPD, 28th Sep, 2020
    #14
  15. YourPD

    YourPD Member

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    27th Sep, 2017
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    Location:
    sydney
    2 bathrooms
     
    YourPD, 28th Sep, 2020
    #15
  16. skater

    skater Well-Known Member

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    Sydney? Gold Coast?
    Looks good, but aerial looks like it's quite compact. I'm surprised they allowed this as there's not a lot of open space.
     
    skater, 29th Sep, 2020
    #16
  17. VICPER

    VICPER Well-Known Member

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    Melbourne
    Dubbo ?
     
    VICPER, 29th Sep, 2020
    #17
  18. Jamesaurus

    Jamesaurus Well-Known Member

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    Canberra
    Awesome work,

    So was does the total site now value at (0.455 + 2 +0.54) = $2.95m ?

    Are they strata titled?
     
    Jamesaurus, 29th Sep, 2020
    #18
  19. gach2

    gach2 Well-Known Member

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    What do you estimate the raw site is worth today (comparable I guess house with the 1400m2 land)
     
    gach2, 30th Sep, 2020
    #19