Subdivision feasibility spreadsheet/checklist

After constant thought about my next step in property investing I am seriously considering my next step to be basic subdivision, with the aim of selling to pay down owner occupier debt. My hope is to find and complete probably 2-3 small projects to pay off our OO debt (150k), then hopefully with a little more experience/confidence complete some subdivide and hold projects.

Clearly developing in a booming market is advantageous, but are there likely to be opportunities in flat markets as well? I live in Hobart which is fairly flat at the moment and certainly doesn't have the drivers a number of other cities have. My dream is to acquire a site with a dwelling that can be rented and is close to neutral, go through the subdivision process then sell. Do these sites exist?

My risk appetite isn't overly high so have been reading this forum and doing other research to try and education myself on the process which seems quite complex, even for a basic subdivision.

I was hoping to some experienced PC members may be able to provide two documents to assist me (and others in a similar situation) get my head around the key parts to a subdivision.

Does anyone have:

1 - A full feasibility spreadsheet that shows all costs and possible costs? Even one that has been used for a small project would be great to get an idea of likely costs.

2 - A checklist of the subdivision process including all steps up until the finished product (whether vacant land or 1 lot build).

There may be a post hiding somewhere with this information so if anyone could point me in that direction it would be appreciated.

Any other suggestions/input also very welcome.

Robbo

 

Hey Robbo, you could check out these 2 currently underway:

South Brisbane Splitter development

City of Parramatta duplex development

 

Thanks @Azazel,

Had a look through both of them, very interesting.

Any idea of the where abouts of a thorough feaso spreadsheet/checklist?

Really want to try and find a simple, easy to read list of expenses and things to consider to ensure I am a cross everything before I move any further.

 

Be Developer has such a tool on his website

 

Thansk @Paul@PFI !

@Robbo03

which state are we talking???

Each state (And council) have slightly different steps involved for subdivision.

for feso, feel free to use our calculator.

 

Ah brilliant, thanks @Be Developer and @Paul@PFI.

I'm based in Tassie but really just thinking out loud at the moment and trying to get my head around things.

Not sure if Tassie's current market may make it hard to find a simple project that stacks up? What are the key things the professionals look for?

Being a serious development novice i'd ideally be looking for something really simple, buy-subdivide-sell, or potentially buy-subdivide-build-sell. Any thoughts on this?

Thanks for all of your help!

 

Hi Robbo,

Matt jones from the property resource shop has a step by step product called the DIY Subdivision Kit. Most of the examples are based from the Brisbane area but I'm sure the fundamentals will still apply for Tasmania. That could be a great resource to start from.

Like you, I'm also interested in finding subdivision opportunities but in NSW. Would be great to know if anyone is working on any small development deals right now in NSW area and open to share. Sounds like all the action at the moment is in Brisbane.

 

HI @Robbo03 - new to this, we are thinking of sub-dividing Sandy Bay Hobart block and building. Just interested in how you went with your subdivision learnings? We aim to build to quality as we will either move in there ourselves and sell our 1919 home, or keep ours and sell the new home.

 

Hey @Kton1,

I didn't get too far due to quickly realising I wasn't in the position to do what I had hoped. I'm hopeful that in the future I will be able to get my hands dirty, but right now isn't my time!

 

Hi Kton1, wondering if you took this further? I may be in a very similar context in West Hobart.