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Hi, everyone. I'm Arnel

Discussion in 'Introductions' started by Arnel, 21st Jun, 2015.

  1. Arnel

    Arnel Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    130
    Location:
    Perth
    Just switched over from the somersoft site and wanted to say hello. HI

    Located in perth, 26years old, 3 IP's at the moment, currently developing in Armadale.

    Look forward to the interactions

    Arnel:)
     
  2. Be Developer

    Be Developer Property Developer Business Member

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    Location:
    Australia
  3. Arnel

    Arnel Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    130
    Location:
    Perth
    Hi mate, just a retain and build two on a corner block? Why is that? You familiar with the area?
     
  4. Arnel

    Arnel Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    130
    Location:
    Perth
     
  5. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,756
    Location:
    Perth WA
    I've done a retain and build in Kelmscott, and am quite familiar with the area. I'd love to hear some specifics if you're happy to share?
     
  6. Arnel

    Arnel Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    130
    Location:
    Perth
    Hi jess, how long ago did you do yours? Corner block? did you hold or sell?

    In regards to the development, corner block r30 as per the LG's corner lot scheme. Purchase price 310,000 last year 5,000 on reno carried out by me. Rented at 400pw. 933sqm. DA received carrying out works atm. WAPC form 1a lodged. building two 4x2x2 with street frontage and managed to retain old house. My plan is to sell new ones once or upon completion.
     
  7. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,756
    Location:
    Perth WA
    I found a 2000sqm block in the hills, so a bit of an unusual one. Triangle block too, to add to the fun. It had a subdiv already approved but needed the conditions to be met. We took over and completed the subdiv, I designed the front house (it's high spec, more to appeal to the Roleystone types) and it's about to be finished - should be tenanted by July.
    We get 400/wk currently for the back house, and should get $550/wk for the front. Purchase cost $420k, build cost $350k as it's huge and a custom build.

    Why not sell the old one and keep one of the new?
     
  8. Arnel

    Arnel Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    130
    Location:
    Perth
    @Jess Peletier
    Oh beauty, the build must of catered well to the current character of the area.

    I need to money to build four units :/

    I will definitely be keeping the retaing dwelling and selling the other two "hopefully" minimising my capital gains tax "finger crossed".

    Are you under going any developments atm? Or interested in looking at a specific area ?
     
  9. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,756
    Location:
    Perth WA
    No - my servicing is done for another year or so - self employed income ;)
    After that I'd love to do another reno and split, maybe another around Kelmscott if there are opportunities but there are so many small units for rent there that I think it would have to a big enough block to accomodate 2 4x2's. Maybe locally (Mandurah) or wherever adds up really. It will be for cashflow, I'm not interested in neg gearing once the project is complete.