R40 - 776 sqm (zoning ratified)

Great stuff. So now I know who to go to for USA investing advice.

 

Is it 2 different things? I couldn't tell if the new biz is a new biz AND US investments or if the new biz is about US investments.
New phases, new stages. Very exciting!

 

I can shed some more light for those who are looking at building villas in Perth or looking at Willagee.

I know someone who is currently building 3x2 villas (15 sqm each), medium/high specification.

They recently got a quote from Dale Alcock, everything included, not a cent to spend ie demolishing etc
$660,000. This block slopes down 1.5 metre from front to back, retaining etc all included.

This investor is working on end figures of $520,000 front, $500,000 middle, $510,000 rear.

Apparently there is a demand for this product in the area, as there are many people looking at downsizing and Willagee is desirable as it is well located and much cheaper than Freo and surrounding areas.

This investor picked up the block a little cheaper than me so his numbers are better, however location not as good.

At the end of the day its still lean unless you can pick up a block for around $550-580K. Its not out of the question, you must low ball and go hard. I am not good at this one.

I think Dale Alcock's price seems pretty good.

I paid $597,000 for Spearwood and that was a very cheap price at the time, however that did not include demolishing, all the council/infrastructure costs, fencing. I had a massive slope 1.5 -2.5 mtre, from front to rear.

Another option which is looking attractive in this market is to not set a fixed contract, it would be more hands on tough.

MTR

 

I still think this is key for Willagee. If you're in a good part, the numbers look golden, but I think if you're in a bad part, then its very risky.

 

interesting to know, Marisa - thanks.

I would probably low ball even harder - try to get stamps included in the ideal price.