Our W_______ Project

Discussion in 'Development' started by Tommy Batch, 22nd Jun, 2017.

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  1. charttv

    charttv Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    445
    Location:
    Perth
    nice work guys! well done.
     
    charttv, 12th Apr, 2018
    #41
    Tommy Batch likes this.
  2. Tommy Batch

    Tommy Batch Well-Known Member

    Joined:
    25th Aug, 2015
    Posts:
    71
    Location:
    Perth, Australia
    Cheers Blacky,

    Still working through the numbers with the accountant & builder but we sold them for
    495k, 475k & 510k. (probably could have got more on Unit 2 looking back, sold that before market)
    After holding costs and build costs we are set to make around 14-15%

    Work such as landscaping and alarms we got our own hands dirty, so saved some costs.

    We could have saved heaps more but in the interest of delivering a good product we chose not to.
    for example, paving, tap-ware, lighting, choice of plants...... the list goes on.
     
    Tommy Batch, 13th Apr, 2018
    #42
    lixas4, Andrew H, Big Daddy and 3 others like this.
  3. Tommy Batch

    Tommy Batch Well-Known Member

    Joined:
    25th Aug, 2015
    Posts:
    71
    Location:
    Perth, Australia
    Learnt so much from this project

    We are now onto our second development and I will be starting a new thread and post some numbers shortly
    This project will be on the market soon

    we are also looking at a JV with a relative which we should be commencing shortly
     
    Tommy Batch, 16th Jan, 2020
    #43
    charttv, Archaon, Brady and 1 other person like this.
  4. Archaon

    Archaon Well-Known Member

    Joined:
    20th Mar, 2017
    Posts:
    1,896
    Location:
    Newcastle
    did you use the margin scheme in this development?
     
    Archaon, 16th Jan, 2020
    #44
  5. Tommy Batch

    Tommy Batch Well-Known Member

    Joined:
    25th Aug, 2015
    Posts:
    71
    Location:
    Perth, Australia
    Yes, used the margin scheme

    Very little room for error in this market

    Looks like interest rates may drop in Feb? If so I think we may see a spike, this may attract more buyers. This product is targeting FHB and downsizers
     
    Tommy Batch, 16th Jan, 2020
    #45
    Ross Forrester and Archaon like this.
  6. Aaron Sice

    Aaron Sice Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,588
    Location:
    Ocean Reef, WA
    Still waiting for that one to eventuate...!
     
    Aaron Sice, 19th Jan, 2020
    #46
    Propin likes this.
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