About the client:
A mortgage broker with a good business turnover, and wanting to leverage the services of an experienced property developer and investor to gain instant equity and grow his property portfolio. Currently have 5 cash flow investment properties.
- Strategy: 6 Townhouse development. Old house on a large block of land overlooking the lake. Demolish the house and build 6-townhouses and sell all. Acquisition and construction costs share with the client and MPCA. MPCA provides the expertise and manages the project from acquisition to sales.
- Profit Share: 50/50
- Location: Lake Macquarie- LGA
- Land Size: 1669M2
- Zoning: R2
Let’s talk numbers:
- Asking price for the house + land: $570K
- Offer & purchase price: $600K
- Offered: $30K more due to multiple offers- Deal still profitable
- Total Purchase costs, planning & construction: $2900Mil
- Sale per townhouse: $650K X 6= $3900Mil
- Profit before costs: $1000Mil or 34% Gross realization
- Profit after all costs: $700K or 24% Net realization or $350K profit split
3 Darren Ct, Glenwood NSW 2768, Australia
+61 431 577 620
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