Hi all, Been looking for a while for purchases with "add value" potential as the few that I currently have do not have much scope to add value. A property has come up on my radar for a possible purchase, hold and lease out for a couple of years whilst getting approvals and demolish then develop. Does anyone have some rough "back of the envelope" type feaso costs, or able to help me out with some rough numbers to see if it is worth pursuing further? The way I am seeing it so far is that it will basically look after itself in the current market (depending on maintenance costs). Property is in NSW, R3 zoning, 780m2 and approx. 15m street frontage. Has a triplex on the same size block next door. The intention will be to build 3x townhouses (3x2x2 or3x2x1 if larger does not fit) and look to sell one or two and hold remainder. (All rough numbers) Purchase = $300k (Leased for $350 per week) Stamps = $10k Demolition =$25k (quote for removing asbestos house) DA and council fees = $30k Design, survey, TP costs = Have no idea??? Build x3 (3x2x2) Medium spec Inc all site costs = $600k Holding costs for Build = Do you normally do on total costs or costs to this point of project? Agent sales fees (assume x2) = $22k Contingency = $50k End valuation going by comparable sales = $440k per town house As I say it is a fairly rough glance to see if I should look further into it. But considering that it has a property that is currently rented and is in a good location. I believe it will continue to increase in value as is either way. Any help would be greatly appreciated!