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Townhouse Development Case Study - 47 Reed Street Spotswood
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- čas přidán 12. 03. 2023
- In this video, Pete rips up the hood on a three-townhouse corner site that we completed for a client towards the end of 2020.
He shares all the project's timing and costs including the eventual result. As far as profit and the client's return on investment.
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01:15 You can always make money on property
01:23 Project particulars
02:08 The Project Timeline
03:22 Purchase Costs
03:42 Early Development
03:59 Early Development
04:29 Construction Costs
04:52 Marketing Costs
05:05 Bank Interest Costs
05:21 Completion Costs
06:13 The Result
07:11 It’s all about patience and discipline
#townhouse #development #casestudy
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Peter, your videos are great and I can tell you know what you're doing. I'm in Melbourne and have you guys in mind for sure
Hey Dub! Appreciated! Don’t hesitate to reach out anytime we’d love to help if there was an opportunity to. Follow the steps to schedule a call anytime 👉 www.littlefishproperties.com.au/property-development-project-manager/
Thank you for sharing!
My pleasure! 😎
Very nice work
Thank you! Cheers!
good insights!
🙏
Peter, I'd echo the majority of comments in how helpful these case study videos are. I'm based in Melbourne and have you in mind also.
QQ - probably quite difficult to guage but with supply shortages and rising building costs is there a rule of thumb $ per square metre that you're seeing for a mid level build with 3 dwellings in the south east? It's been hard to guage what asset and area we'd want to acquire considering development 2-3 years later.
Hey Age - Thanks for reaching out, and I hope you are well. We are seeing around the $24-25K per sqm. Good luck.
Hopefully, we get to work together!
Feel free to book a free consultation anytime at the link below:
www.littlefishproperties.com.au/property-development-project-manager/
Hey Pete, with commercial finance like this project - how much of the LVR (total?) does the client have to fund?
Hey mate - Thanks for watching!
I've seen people needing around 30%... always depends on your situation, but a good starting point!!
Hi Peter, what is a healthy buffer you should put for contingency cost and also what is a healthy buffer when you are doing the initial spreadsheet calculation for ROI. Should it be above 20%
Hi Apollo,
For contingency, we allow around 2-3% of the build, but we are very good at minimising cost overruns and variations.
So I would say 5% is a nice place to be for people that don't do this all the time.
ROI - We find early numbers, if done correctly, sit around 12-14%.
But with good management, that number can often get closer to 20% ROI.
Hope this helps, all the best!
PK🐟
@@peterkellyofficial Thank you Peter for the advice. Really appreciate it and love your videos.
It’s my pleasure Apollo, happy developing 😀
Thanks for the awesome videos. Do you think it is necessary to go back to uni to become a property developer ?
If yes do you know any good courses ? Thanks, guy who is interested in becoming his own boss.
Yo! Keep your eyes peeled my man, I’m working on our townhouse masterclass - it sounds like it will be perfect for you.
As for going to uni to become a property developer I didn’t myself, so it’s not necessary - but it’s up to you. If you are set on townhouse developments. My masterclass can teach you that, so all you’d then need is experience and drive.
DM me on one of my social accounts and I'll notify and look after you when it drops :) All the best!
$2.8 mill to make 300 k lol
Hi Jon - The client invested a little less than 50% of the project costs, so circa $1.3mil, so not a bad return on investment.
As mentioned in the video, this project site was purchased in a much better market than the townhouses that were sold.
So everything considered, an excellent little project. The client was very happy.
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