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Real estate developing is one of the few areas a person can enter with little expertise and become wealthy in a relatively short amount of time.
Builders need ongoing projects to keep their workers employed and are on the constant lookout for ready to build sites to save time and holding costs.
This opens the door to acquiring property, obtaining development approvals and then on-selling it to builders for a tidy profit.
You can even acquire the property with minimal outlay using creative instruments such as options and leasing.
When you subdivide one property into many you can add significant value in the process.
You then have the option to hold the lots and wait for more uplift, build on the vacant lots and/or sell one of the properties to pay down your debt and increase your equity and rental yields.
This approach is simple and low risk when you understand the process and what to look out for.
Residential unit development has a potentially lower financial requirement compared to commercial, industrial or retail development.
Many residential unit developers sell some of their units after completion to pay down their debt, effectively allowing them to own the remaining units outright.
You can repeat this process to acquire several millions in property and hundreds of thousands in positive cashflow to effectively retire on.
As a developer, you aim to complete your projects at 20% or more below market value.
You can sell part of your project to pay down equity and increase your cash flow.
You can claim more depreciation and tax benefits from developing a new property.
Developers can regularly make upwards of 6-figures from just one small development.
You only need to spend a few hours a week to manage your project.
You have many finance options available to you and can invest with or without the banks.
Location: NSW
Purchase Price: $286K
Strategy: DGI Graduate bought derelict hail damaged house with asbestos on sub-divisible block. To subdivide, the DA requirement for Dual Occupancy was to build on the subdivided block – i.e. she could not subdivide the block to sell as vacant land.
Result: She renovated the derelict house and moved into it so she is close to project of building on the back block. She will sell reno’d house for $400K and build the other one for $450K, looking at a projected profit of $170K.
Location: Queensland
Purchase Price: $760K
Strategy: House is pre-war so cannot be moved. Owners are converting the house into 2 townhouses and building 3 more townhouses on the back of the block. They have a DA and are doing the whole development.
Result: The owners are looking for a project profit of $333,302.
Location – South Australia
Purchase Price: $1.46 Million
Strategy: The vendor bought elsewhere so an agent brought this deal to DGI Graduate Julie. She bought it $140K under market value(discount) by Joint venturing with DGI Graduate Phil. Originally 35 blocks were approved but Julie worked around the plan with the town planner to move a road to allow 36 blocks.
Result: Going to subdivide the whole lot and sell off as newly created vacant blocks of land. This is Julie first deal and forecasted profit is over a million.
Location: South Australia
Purchase Price: $756K
Strategy: Strategy is to subdivide and build 5 Torrens title townhouses, 4 with single garage and 1 with double garage.
Result: Selling price for each of 5 units will be $540K-$560K and the double probably $580K. One presale sold for $555K .
Alanah and Rob, New South Wales
Yanal, Victoria
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In the event of a student sharing their story, no remuneration was offered or paid to the student for sharing their story. The timeline and details of all student transactions have not been verified by Dominique Grubisa. If you wish to make a particular investment or follow a particular strategy then you should consult a financial adviser to fully understand the risks associated with that course of action in your particular circumstances.
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