Julie Sherden – Wentworth falls, NSW

Property Development Graduate


Julie found this property deal on the market. The original plan was to relocate the house to another area, as the house was in great condition, then build 3 new dwellings on the land. However, after doing some calculations, Julie decided that it was better value to renovate then rotate onto one block and build 2 new dwellings. Julie now makes $58k p.a as passive income from the dual occupancy.


Development strategy

Existing home before

Existing after renovation

Manufactured home on Dwelling 1 & 2

The Numbers on existing home

Expenses Cost
Purchase price $985,000
Purchase costs $30,000
Holding costs $8,000
Renovation $100,000
Selling costs $23,000
Money partner 24,000
Total cost $1,143,000
Dual occupancy $58k p.a. passive income
Profit Block of land worth $500,000

The Numbers on subdivided dwellings

Expenses Cost
Purchase price $685,000
Purchase costs $28,000
Development costs $830,000
Sale costs $42,000
Total cost $1,585,000
Resale $1,900,000
Profit $300,000
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