Hypothetical Development

ypothetical questions here as I can't get another $ out of a bank but lets say I owned as a PPOR a house on a big block (i.e. 2000 - 6000sqm).

1. If I chose to sell to a developer how would I work out value? Obviously each lot estimate sale minus some profit for the developer, but what else needs to be accounted for?
2. If I wanted to go into a JV and share in the profit with the developer what would I need to do? i.e. how to work our profit splits, what sort of contracts are required and who would help, are there private businesses that would act as an intermediary between me and the developer?
3. What would you consider to work out which option above is 'better'?

These are probably 'how long is a piece of string' questions so broad answers are fine.

Also, if this sort of stuff is outlined in other threats please point me in the right direction rather than wasting your time.

Many thanks n advance.

Robbo

 

1. Is super easy. The value is the lowest you will take for it + the highest the buyer will pay for it. Anything else is irrelevant.

2. From your post, I wouldn't go into it. You are fresh to the idea and the developer is experienced - Seems like a perfect way to fall foul of some sort of scheme

 

Well, that was helpful...

1 - Looking for strategies for working out an estimate value, particularly when there may be no comparables.

2 - I'm not going for it, as I don't own a property like discussed. As mentioned it was hypothetical situation, because, one day it might be an opportunity that pops up due to needing to upgrade PPOR in the next 5 yrs. Yep, I have no experience in this, but thought the way to learn is to ask questions of the experts and see what info can be received.