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.
Development progress
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 | $355,000 |
| Stamp Duty | $10,850 |
| Interest | $35,000 |
| Construction/ holding costs | $978,000 |
| Agent fees | $43,000 |
| Advertising | $5,000 |
| Conveyancing | $1,600 |
| Total Costs | $1,440,000 |
| Resale (4x $430,000) | $1,720,000 |
| Projected Profit | $280,000 |
Key Learnings:
- Learn all the required development codes
- Engage a reputable A team
- Ask good questions
- Closely monitor the progress and costs of the project
