Karen Baldwin – Morphett Vale (Main South Road), VIC

Property Development Graduate


This deal belonged to a DGI RER student, who purchased it in 2015 for $315,000. It was a mortgagee property and the plan was to construct 6 townhouses on the site. However, the RER student decided that she no longer wanted to proceed with the deal, and wanted to focus her efforts on another development opportunity. Karen took over the site and with the support of a money partner, was able to complete the developments and made a combined profit of $312,800.

Development progress

The Numbers

These cost include estimated cost of development and estimated profits.

Expenses Cost
Purchase price $520,000
Purchase costs $26,500
Costs – water, open space, surveying $44,000
Construction $975,000
Finance costs $60,000
Rates etc $7,000
Insurance $1,200
Contingency $48,500
Selling costs $45,000
Total cost $1,727,200
Resale $2,040,000
Profit $312,800
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