Advanced Tactics for Townhouse Development Success | EP. 2

[@peterkellyofficial]

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[@cup_holder]

Gosh darnit I love a FEASO, keep em coming big boy

[@peterkellyofficial]

Let's go, Cup Holder! Plenty more where that comes from 🚀🚀🚀

[@jerryli477]

As a development manager from Sydney doing land development in Melbourne, you guys are the no.1 go to channel! Love the videos, great work! 🎉🎉🎉

[@peterkellyofficial]

Thanks Jerry - Love the support! 💪💪💪

[@jjelelelelelwle]

Top content as always PK! Who is building 23 Summit?

[@peterkellyofficial]

Thank you so much - A company called 'Riser' smashing through it and doing a great job! 🚀🚀🚀

[@jjelelelelelwle]

Thanks Peter! - would be really helpful in your videos to let us know who you are using for each build and how you selected them to be the right builder for the job

[@jjelelelelelwle]

Also, is there market evidence for townhouses at $2.2m in that pocket of hampton east? Or are you using comparables from nearby suburbs?

[@peterkellyofficial]

Great feedback Jel! 👍👍👍 Thanks for watching!

[@peterkellyofficial]

Yes, we always use comparables, the magic is knowing your product and finding the right comparables, that's something we will look at getting into soon 🙏👍

[@virajabeykoon1259]

Thanks for sharing these details Peter and team!

[@peterkellyofficial]

Our pleasure! 🙌🙌🙌

[@tour-da-australia9767]

Great open first hand info. I have recently bought old house 800sqm in manning wa. potential for further development looking for support. Have no idea what I'm going to do..your videos are eye opening.

[@peterkellyofficial]

Well done on getting such a good sized block!! Maybe check out the Little Fish Network.... we provide amazing support through this platform!! Good luck 🥊

[@Drph1l]

Loving the info and detail in these videos! Appreciate your info

[@peterkellyofficial]

Thanks for watching! 💪👍

[@aaronhyde2502]

Awesome content! How come the feaso only includes for interest / holding costs for during construction (Ie not during Design Developemnt etc)? And for Summit Ave, did you guys worry about the proximity to all the commission housing?

[@peterkellyofficial]

Thanks Aaron!! This client is using equity for land purchase and soft costs and only lending the build, it's a common LVR we see in these!! 👍🥊

[@peterkellyofficial]

Summit - Yes it was a consideration and commission is scattered around Bayside... We are seeing these areas gentrify and the comparable sales support this, there have been some great sales recently even in a flat market to have us excited....and that reserve opposite... how could you say no?! 😃👊

[@allentygris]

Need more content on large lot subdivisions 😊

[@peterkellyofficial]

👍 We will mark it down as a topic to cover!

[@allentygris]

@@peterkellyofficial let's rock n roll 😎

[@peterkellyofficial]

👍🙌

[@RodneyPrasad]

Great job Peter! 👌🏾

[@peterkellyofficial]

Cheers Rod 🙏

[@12345xfire]

Hi Peter, Who does the drawings? Are they internally done by the team or do you engage someone external? If external does the client choose or do LF engage them?

[@peterkellyofficial]

External - Client usually entrusts Little Fish with this decision, but we are happy to work with another designer if the clients wishes!! 🔥✌️😀

[@harrywalkley7443]

Love this!! PK dropping fire

[@peterkellyofficial]

Lessss go H! 🚀🚀🚀

[@fisherh9111]

You bet I looove the feasibility!!

[@peterkellyofficial]

Thanks Fish!! 🐟🐟🐟

[@TheZilk]

Let’s go pk!!!!!!🎉

[@peterkellyofficial]

😜😜😜

[@gocelazareski2599]

In one observation for 75 service street, the plans look good however i think the PDR room in unit 1 should be moved so that it's not close to the dinning, otherwise love the layout of both and the facade looks good too

[@peterkellyofficial]

Thanks for the reply and suggestion, I tend to agree....The trick is finding a spot for it that doesn't detract from another area! Ideas?

[@gocelazareski2599]

@@peterkellyofficial Maybe move it back to the original spot on the first round of plans, where it was under the stairs in unit 1 (maybe that could be one idea)? but still leave unit 1 garage as a single

[@peterkellyofficial]

Yeah ok hearing you mate - We have another round of tweaks before planning permit... so we will look to work it then!! Appreciate the input 🥊🔥🙏

[@andyli1565]

Love it Peter, been following many of your videos. Just wondering how much does the designers charge for this type and scale of design?

[@peterkellyofficial]

Hey Andy - thanks for the support! 🙏 For this type of project and for the Town Planning docs only, would be circa $15K plus gst, also all your other costs like land surveyor / arborist etc. 👍

[@andyli1565]

@@peterkellyofficial Thanks a lot Peter, I will be following your channel on updates and other vids as well. Well done on the contents, very informative and well expressed. Cheers

[@peterkellyofficial]

Thanks Andy! 👍👍

[@binance9975]

when calculating the holding cost,, specifically the interest. how come it says "interest on 50% project cost" as 54k? isnt it meant to be 125k? (3,500,000 x 0.5 x 7%) seems like you calculated the interest just of the construction cost? (1,570,000 x 0.5 x 7%) = 55k. Then again project duration is 24 months, but your interest calculated is (12 months x 50% construction cost)?? what am i missing?

[@peterkellyofficial]

Hey thanks for watching! 🥊 It's calculated on drawn funds, not the total, that could be the difference...🥸

[@tradiesservices4037]

nice cameras set up and videography display :)

[@peterkellyofficial]

Thanks Tradie!! 💪

[@fisherh9111]

Is that ROI margin a bit skinny? I usually look for 20-25%.

[@peterkellyofficial]

Hey Fish! Never seen a townhouse project in Melbourne present initially above 20% ROI. Have we achieved above 20% ROI by the end of the project?! Hell yes, all the time. But we don't see them present like that initially. 👍💪🤑

[@fisherh9111]

@@peterkellyofficial this is the right way to do it. Underestimating the return shows you're being conservative. Unexpected profits sure beat unexpected losses!

[@peterkellyofficial]

Yeah that's the idea Fish! Super realistic, don't factor in any growth, that's all bonus 🥊🐟