New Build: 3 Bedroom House + Garden Apartment

“Both my husband and I were satisfied that we were getting the best price and best service possible!

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Vision:

Our clients’ vision for this project was to create cash flow and combine that with a lifestyle for their family. Plan Assist Property Team were able to provide our clients with a seamless, end-to-end property investment process, with Harry working with them through mentoring to secure the property, our Finance team assisting them in obtaining finance for the purchase and construction and Daniel and the Plan Assist Constructions team completing the build.

What we started with:

The property was a vacant block of land in the Central Coast region, which is in both a flood zone and a bush fire precinct. The approved designs certainly maximised returns, while at the same time was in keeping with the surroundings.

What we achieved:

Aside from a very happy client, the end result is a 3 bedroom house with an attached 2 bedroom Garden Apartment which was completed on time and on budget. Our client is very pleased with the rental outcomes of $400 per week for the 3 bedroom house and $320 per week for the 2 bedroom Garden Apartment.

Time frame:

With a site start in December 2012 and Christmas looming, we set the target to be completed by July 2013, which was achieved and with some careful planning, tenants moved in shortly after.

Building Contract Investment:

With an original estimate of $370,000, we agreed to undertake the project on a cost plus basis which would benefit both parties with the final contract sum coming in at under $350,000 plus $14,000 in upgrades that were completed along the way.

What our client says:

“I have been investing and trading real estate since 2000.  I have learnt ALOT during my journey however feel that my education is never over and engaged Harry for some property coaching.  During this time I came across a vacant block of land at Umina Beach that I felt would be a great location to build a house and granny flat, however the block had some challenges being only 461m2 as well as being partly flood affected.  During coaching Harry was able to give me advice that helped me to make a confident decision on purchasing the property.

After obtaining a DA, we turned to Plan Assist Constructions and they were able to fit in with my build dates.  The process ran extremely smooth and professionally, and both my husband and I were satisfied that we were getting the best price and best service possible during the whole build process.  The site manager, Daniel, kept us up to date with the build progress and any variations (other than upgrades) were kept to an extreme minimum.  The goal for us during the build was to retain a positively geared property at the end of the process, and this has been possible through Plan Assist Constructions.  Thank you Daniel and the team.

We were so impressed that we have engaged Plan Assist Constructions again for the renovation of our own home, which has again been running very smoothly and we are very happy with the quality.”

 

 

3 Responses to New Build: 3 Bedroom House + Garden Apartment

  1. Kelvin wade says:

    Hi Harry , I have read your report on the build on the central coast house plus granny flat.
    It’s gets a combined rent of $720 per week , multiply that 52 = $37,440 PA multiply x 100= 3,774,000 , divide by construction cost of $350 ,000 = 10.69% yield.
    Where have I gone wrong with my numbers as I read ( somewhere in article ) a 6.4% ( 6 something ) yield . ?
    Regards
    Kelvin Wade

    • Harry says:

      Hi Kelvin
      Thanks for the question. Your calculations are correct however our return is based on the $350,000 build cost as well as the purchase price of the land. That way we give a true indication of overall return rather than just return on build cost.
      Hope that makes sense
      Cheers Harry.

      • Kelvin says:

        That makes it all clear now. I thought the return u were showing included all the expenses / build / land cost. I understand now. Thnx

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