We have some minor experience in developing, currently we are working through a retain + 2 build, and previously we have pushed through and sold with plans & permits. We are now tackling a build knock down & build duplex. We initially purchased the place with the intention of; Retain existing 3 bed + 1 bath house Build 2 bed, 1.5 bath, 1 garage Build 2 bed, 1.5 bath, 1 garage reverse living (living upstairs bedrooms downstairs). However the tide has turned in this council and its zone would make it difficult to push for 3 on the block despite others around it being that way, and we don't want to push for VCAT or have significant delays & redesign cost. So now we are aiming to remove existing* and build more upmarket 3 bed, 2.5 bath, 1 garage houses in a mirror image. The block is in reservoir and we purchased for high fours, we hope mid to high 500s as a finished product per house, which is backed by estimates from agents we have used in the area. One said 580 to 620, the other said 550 to 600, a comp sale (high) 22B Arundel Avenue Reservoir Vic 3073 for 630k. We have a builder we like in the area who is currently doing our other development, turn key completion (drives, curtains, landscaping) will be sub $250k Due to APRA lending requirements we are likely to need to pre-sale at least 1 as we will no longer be able to get the loan on serviceability. *We have a spare block of land in a rural city in western victoria, we are looking to cut existing house and relocate it to the block, rough figures has it landed with basic renovation (flat pack kitch, floors, paint, bathroom tile) $90k, projected sale value of $150k. We have tried unsuccessfully to sell the land bare, if we can't move for 150k then rent would be $200+ per week so we could reborrow and pull maybe $80k out and be CF+. We are using buffered numbers and safe sales so hopefully final profit comes out a bit more, aim is now 2 years from settlement to completion. We have 20% capital + stamps in so far and will fund planning & approval 100%. I figured i will keep this thread updated with our no doubt slow progress to help anyone looking to do similar, warn others off, and ask questions i have them.