Sandi Clifford – Reservoir, VIC
Property Development Graduate
Sandra’s strategy for this particular deal will be to a develop 2-4 small townhouses selling some and holding some where possible.
There will be a 12 month settlement, during which time she will be undertaking planning permit application. Her aim then is to demolish and build 3 townhouses as soon as possible thereafter.
These cost include estimated cost of development and estimated profits.
|Buy (Money partner)||$500,000|
|Build & fitout||$792,000|
|Architect to working drawings||$14,500|
|Consultants/engineers/surveyours & others||$26,460|
|Contingency = 10%||$79,200|
|Profit to money partners||$29,062|
Sandra Top 3 Learnings from the property development deal:
- To get out of my own head
- To talk through options and solutions with coach, family, friends, colleagues & facebook group
- The more I think about “what have I done?”, the less actually happens. Not to be over-confident – it makes me do impetuous things like buying at auction without having done sufficient due diligence, leading to the anxiety of “what have I done?”. Never let a day slip by without doing something to advance my progress as a property developer.