Property Development

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kathryn
Posts: 13
Joined: Wed Jul 21, 2010 7:06 pm

Property Development

Post by kathryn »

Hi Everyone,

I'm working on finding a development site within Sydney that my partners and I can either subdivide or add value to the land and apply for a DA (Development Application) for townhouse, etc. We've been searching for months now, it's like finding a needle in a haystack!

We have contacted owners in one local council area with land sizes over a minimum size, as well as any in the area that are for sale at the moment. However we either find that the vendors are just greedy and asking for too much, or the feasibility comes up short!

Has anyone been success with finding a development site? How did you find it? Were you able to negotiate the price of the initial land down and by how much? And did you work on a 20% profit margin? Was your experience a positive one? Would you do it again?

Please share your experiences

Kathryn

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Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Property Development

Post by Otto Dargan »

No it isn't easy is it! Having the right connections certainly helps a lot of property developers. Good luck Kathryn!
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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