Yes have been following Garrett's progress in Gannons Road with Kurmond Homes and had a chat to him. Will be interested in his final numbers.
Mine are very roughly;
Land purchase plus stamp duty Cronulla/Nth Woolooware: $1,180,000
Masterton duplex with high level finishes: $730,000*
Site Costs incl demolition/landscaping/driveways/drainage S.94 etc : $100,000
Interest (holding costs): $50,000
R/E agent costs if sell both: $40,000
Total costs: $2,100,000
*subject to meeting with Masterton designer this week will probably upgrade further.
3 bed well designed Duplex sold on corner of Flinders and Franklin with Highland R/E off the plan a couple of weeks ago for $1,400,000.
Estimate at least $1.3 each or $2.6 return with $500K profit before tax.
Happy to hear any view on whether I am being too optimistic on any costs!!
ha ha always the roosters well see tomorrow!