Vivianne Dawalibi – Beerwah, QLD
Property Development Graduate
Background
Vivianne found this deal on market, she reached out to local council to receive guidance on what could be built on the piece of land. She has issues with local councils for approvals which did delay things.
Vivianne was able to rent out the existing property on the land and eliminate any holdings costs which gave her much more freedom with time.
Initial Planned drawings
The Number
These costs include the purchase price, stamp duty, holdings, renovations and relevant adjustments, including the selling costs.
| Expenses | Cost |
|---|---|
| Purchase Price | $545,000 |
| Purchase costs | $4,250 |
| Stamp duty | $27,250 |
| Development costs | $776,743 |
| Holding Costs | $28,500 |
| Total Costs | $1,381,743 |
| Estimated costs of sale | $38,400 |
| Expected sale price | $1,660,000 |
| Projected Profit | $239,857 |
Key Learnings:
- Every lead is worth exploring
- Negotiation skills are very important – negotiated a 6 month settlement period by which time I had started processing the building permit papers.
- Be an area expert – I was able to negotiate below market
- Create strong rapport with real estate agents
