I've recently pulled the trigger on a small project in developing vacant land and building 2 apartments; a 2x2x2 and a 3x2x2 with a garden/alfresco both apartments will have large balconies with views to the marina and ocean. The site was not advertised as R40 and marketed at $350K. The strategy with this project is to execute a debt reduction phase of my journey so right now the intention is to build and sell. Yes I know, the Perth market is not great so hopefully the water views will provide a point of difference. I've recently found a fantastic builder whose care factor is off the richter scale, we intend to use insulated concrete formwork (ICF) for the structural walls and framed internal walls with extra thick gyprock sheets with insulation. The design will have a 4 car garage tandem style on the ground level, the 3x2 with garden on the 1st floor and the 2x2 on the top floor. @Aaron Sice has been given the design project, visually the front elevation will look like a 3 storey house with a modern look and feel incorporating the use of stone cladding, a skillion roof and acratex walls. There are not many apartments in Mindarie except for the newly built "The Marina" apartments on Bristol Lane. The prices for these apartments are > $700K for a 2x2 and $800K for the 3x2. I'm pitching mine at 550 for the 2x2 and 600 for the 3x2 to be conservative. Site: 273 sqm R40 Cost: $314K plus closing cost $13K Construction cost: $500K Holding cost: $48K Selling cost & GST: $50K Total cost: $925K Expected end values: $1.15m Profit: $225K or 24% I've really got to thank my team for their input and assistance as I can't do everything myself.