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First in Best Dressed


This property has just been signed up, but we’ve got first crack before it officially gets marketed and we want to take full advantage of that! On offer is a pre-war home on 607m2 in a highly desirable location, with the suburb now consistently achieving sale prices above $3m for new houses. There is no price but the agent has quoted the ‘auto-val’ of $1.19m provided by RPData to the seller and informed them the house that must be retained decreases the value. Anyone with experience in the industry should know that the auto val is about as useful as the number 9 on a microwave. Sales evidence suggests this should achieve $1.25m on the open market, even with the house retained, except we believe there’s a fairly decent chance at removal of the home (conditional period required to confirm). Even renovated (like new) and extended the property stacks. The plan here is a new home, or to renovate like new and have an end product worth between $3.2m and $3.3m and providing a circa 20% equity gain on a $1.15m purchase.

Short and Sweet


We like easy developments where you can keep the project short and sweet, like this one. On offer is a dated but liveable home resting on 3 lots in a quiet and short cul-de-sac. The advantage of this is in theory, you can either demolish, gain titles and sell without doing much more, or even attempt to sell ‘off the plan’ and if things don’t work out, you still have a rentable house to hold onto. The site does come with some complications, which we believe we’ve taken adequate care of in our numbers, the result being approximately $215k or 17% equity gain from a project that is almost as basic as it gets and can be completed in around 6 months.

Do Less


Isn’t it everyone’s dream to do the bare minimum and still make good money? This property may allow you to do that! On offer is a house, already sitting on 2 lots, if purchased at auction for $1m or less should show an equity gain of nearly 22% simply by demolishing, getting titles, and selling. Buyers around $1m prepared to buy at auction should call Justin on 0410511535.

Go for Gold!


The buyer of this needs to have a little faith, as we’re proposing an end value that hasn’t been achieved in this location (unless waterfront), however, we believe the money is there and achievable in part due to the land size (1000m2 approx), the city views, and the fact almost nothing brand new can be or has been created in the area due to the amount of character in the location. We are proposing a $4m end value. There’s a heap of sales of vastly inferior property in the high $2m to low $3m range as well as a recent $3.75m sale of an inferior property, and a 2017 $3.75m sale of a larger house on slightly larger land, but inferior finishes and inferior views. In short, there’s no $4m sales because nobody has produced the product yet! Our numbers are indicating close to 20% equity gain for a single house build. It would also suit an owner occupier developer ready to develop their dream trophy home. This is a vacant land sale in a premium location with access to amenities and quality city views. Let’s go for gold! Buyers at $1.55m should contact Justin on 0410511535.

 

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