I am thinking of starting my first project in property development. I am looking for all advices on what I should and should not do in my first stage (draft, town planning, council approval, etc...)
It is much appreciated for me to receive some advice before starting.
I am thinking of starting my first project in property development. I am looking for all advices on what I should and should not do in my first stage (draft, town planning, council approval, etc...)
It is much appreciated for me to receive some advice before starting.
Cheers cindy
Hi Cindy, would you please expand the question. 1) What is your full financial position 2) What is the scope of your development 3) What is the demand and supply conditions in the market you are considering 4) What is your teams qualifications. Thanks Peter I can then talk to Foxbat. Foxbat will not speak directly to the forum due to the global warming issues. Even with the government supporting his position and removing the tax he still will not speak directly to this forum. He just sits on his porch reading and going to the sauna. Sips tea and thinks.
I am thinking of starting my first project in property development. I am looking for all advices on what I should and should not do in my first stage (draft, town planning, council approval, etc...)
It is much appreciated for me to receive some advice before starting.
I am thinking of starting my first project in property development. I am looking for all advices on what I should and should not do in my first stage (draft, town planning, council approval, etc...)
It is much appreciated for me to receive some advice before starting.
Cheers cindy
Buy a house on a big block. Knock it down. Build two small houses very close to each other. Pray.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
I have just finished a small subdivide and it was a lot of fun and a lot of stress. There were many things I would do differently. I suppose the main is to get any subdivisions approved ASAP as this will affect your ability to finance. Try not to let the builder pass awkward tasks to you eg crossovers with neighbours, temporary fencing etc. Negotiate these things before signing up. Get a clear picture of land levels and get a clear agreement on how the site will be handed over to you. There are heap and heaps of issues like these that sound petty but turned out very difficult.
As MIW says I think there is a forum better suited to getting this kind of information.
This forum is rather more argumentative as you can see
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
I am thinking of starting my first project in property development. I am looking for all advices on what I should and should not do in my first stage (draft, town planning, council approval, etc...)
It is much appreciated for me to receive some advice before starting.
Cheers cindy
I have done a lot of developments.
If you could share some more detail on what you want?
Have you bought land already, zoning, what kind of development subdivision, duplex, triplex, larger. What kind of budget you working with etc etc.
One of the first things you need to do is a survey report on the land, soil classification is important and can be a big issue or not depending if the land is sand or clay. Normally cost anywhere from $1000-$2000. That is the first step.
Second step is getting a draftsman's, to do up a site plane. So the council can see what you are proposing, you do not need detail house drawings. A plan of where the buildings will be, driveways, outdoor areas and such.
A builder can do these first two options and provide much more detailed plans to the council. Or you can do it yourself and hire people privately, only a few phone calls or emails to arrange it all.
Once you have these basic items you can move into detailed planning as this will help a lot in knowing the costs to develop the site. Soil you need, water, electric, gas, sewerage, retaining walls, these plans will help know these costs and any builder will need these done. It needs to be done early and will also give you an idea of costs to develop the land.
If you can provide more detailed information, I can write a lot more.
Site preparation, know exactly what you're in for with costings. .sandy is simple not too much in $$,rocks(hill suburbs), limestone( oceanside areas) can be more expensive) .you are responsible for retaining walls .no allowance is made on importing of sand fill, tree removal or repegging of site...pegs do go missing.
Gets things approved ASAP. You can't control the time it takes to wait for red tape. Understand what exactly you are getting for your $$. What about outside stuff?
Go to a budget & stick with it.
Anther thing.. Power points locations, some were put in weird locations that were not practical, check the plans carefully.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
I am thinking of starting my first project in property development. I am looking for all advices on what I should and should not do in my first stage (draft, town planning, council approval, etc...)
Nothing personal but you do prove a point I have made.
You wouldn't go onto a web forum to ask how to be a doctor or a mechanical fitter, but you feel that property development is simple enough to be able to do it with a bit of advice from some complete strangers on the web.
I started out working on new builds as a general labourer before becoming a plumber/gas fitter and then a construction project manager.
There are a myriad of difficulties you face when developing property, especially if you are subdividing.
I can look at a block and tell within five minutes if there is money to be made. I would look for a level site with good fencing and no elevation between properties. If it didn't have those attributes, I would be budgeting a whole lot more for groundworks and fencing.
A fully fledged building company can make money by using economies of scale. They may own their own heavy plant and will obtain materials at quite impressive discounts. If a professional developer didn't buy the block, it is because he couldn't make decent money on it.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
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