I've had an offer accepted on a large development site, so I thought I would tap into the vast knowledge and collective minds here to help me do the DD. Location: Hamilton Hill WA Purchase price: $1.8m Stamp duty: $90k Block: 3061m2 R60 with dual street access. Build: 30 2x2 multi-units over 2 levels (70m2 internal living plus balcony/courtyard, parking, etc). Will probably be predominantly 2x2 with some 2x1 and 3x2. Strategy is to get DA approval for the whole lot, then develop in 2 stages. First stage will build 10 multi-units and sell all. This will provide the funds to build the next 20, which will be all retained. I am planning 2 years to get to the end of Stage 1, and another 1 year for end of Stage 2. So 3 year project in total (this might be a bit optimistic). Stage 1: 10 multi-units (apartments) Plans & DA: $100k Site works, retaining, demolition: $100k (there's quite a large slope on parts of the block) Development contributions: $100k (about $3.5k per lot) Construction: $1.7m (@170k each. I've been told it costs about $180k per apartment. However, I've been working with a builder on a cost plus basis. Current projects are tracking about 10-15% savings under fixed price contracts) Sale proceeds: $3.7m (@$380k each minus $10k for agent fees. Apartments in the area have sold for $400k for 2x1 and $420k for 2x2 in last 6 months... So hopefully there is some conservatism built in) Gst: $120k Profit tax: $350k Remaining funds: $3.2m (used to fund construction of Stage 2). Stage 2 (20 apartments) Construction: $3.4m (majority of funds come from sale of Stage 1 + $200k additional cash) End value (all to be retained): $7.6m (@$380k each So in total: Total capital invested: $4.1m Value of end products retained: $7.6m Profit: $3.5m Return on capital: 85% Notable items: Council have stated they will support staged construction Funding is planned to be 80% finance for land ($1.4m) at resi rates. Construction costs to be funded from combination of cash and some mates as equity investors. This will avoid needing commercial finance and all the strings attached to it (like pre-sales, etc) Haven't included holding costs, although only a third of it is from finance Planning to do a geotech report to see if there is any clay or limestone Designer keen to design as a 'village' to mix it up a bit and create a communal feel.