First try at property development. build to sell

Discussion in 'Development' started by Mjcook, 25th May, 2017.

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  1. Mjcook

    Mjcook New Member

    Joined:
    20th May, 2017
    Posts:
    2
    Location:
    newcastle
    Hi
    I am new to property development, and have decided to take the plunge.
    my plan is to:
    buy block, build duplex, sell when complete.

    1/ I was wondering who should I be talking to in the Newcastle area.?

    Today i am going to the bank and a property investment adviser that is at my accountants.
    2/ Is that a good start or is there someone else I should talk to?

    Depending on finances, I was looking at this only with my family. but I do have an option to do it with a relative.
    3/ How would i go about this?

    4/ what is best to build? duplex, house, town houses, any other options?

    Thank you all
     
    MTR likes this.
  2. LukeR

    LukeR Well-Known Member

    Joined:
    17th May, 2016
    Posts:
    98
    Location:
    Melbourne
     
  3. Excalibur1

    Excalibur1 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    335
    Location:
    Sydney

    Great start is to read the development section of this forum. You will get most of the answers from your questions. Once you finish reading everything there, then read it again, I can guarantee you will learn something new. Also check out he Tax section as that might form a huge component of what you plan to do. In there there are @Terry_w tips! I think everyone that has gone though them has found them useful. Also look at financing section and talk to some of the brokers on there (second opinion). Follow those 3 steps and engage with some of the people on the forum and you cant go wrong :)
     
    lixas4, Mjcook and Terry_w like this.
  4. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,058
    Location:
    Vaucluse, Sydney.
    I hope you understand how to do a decent feasibility. For all the risks involved it doesn't sound to me like your ready for a development based on your first post. If you decide to go ahead get as much help as possible from someone who has at least 1 or 2 under their belts.

    Good luck.