About the client: A well-established cardiologist who has equity to invest in property.
He is after risk minimization and making sure he is able to leverage the expertise of a property professional to grow his wealth while he continues doing interventional medicine.
- Strategy: Development of 5 townhouses after demolishing the house and sell all.
Option to keep the existing house and build 3 townhouses.
Option to on-sell the site once DA is approved to the potential DA uplift.
- Location: NSW- The South coast.
- Land size: 1100m2- Rent the existing house while seeking development approvals.
Let’s talk numbers:
- Purchase Price: $620K.
- Weekly rental rent while awaiting approvals: $475
- DA in council to build 5 townhouses: Best and maximum use of the site.