Development sites calculations

Hi everybody

I would like to develop in the future just jumped on pc to start my research
im thinking of starting with a duplex / townhouse for first project .
I'm aware of the council research on area in regards to zoning etc.
What I'm not sure of are the numbers I should be costing in from purchase , development to sale to make a profit sure there will be holding costs as well .
I ask this so I know what to purchase a property for knowing that I plan to develop .
Any help would be great ..

 

Sale should be comparable properties that have recently sold in the area.

Build is based size and spec. Maybe search recent development approvals on the council website and look at plans and construction costs to get an estimate

 

Meet up with a Sydney developer from here and pick their brains. May have to pay them for their time if you want too much but its worth it imho. That would be my approach. Good luck.