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Buy- Rent AirBNB Possibly or just rent- Convert to Dual Occupancy - Strata Title Sell both
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Address WithheldStatensw
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Snap ShotProject timeframe 12 Months estStamp Duty
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Purchase Price$850,000.00ActFALSE
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Total Purchase Costs Including Stamps$883,740.00VicFALSE
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Total Reno, Duplex, Strata,Titling, Holding Costs$241,338.02NSW33740
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Total Purchase + Other Costs$1,125,078.02QldFALSE
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Sell duplex$1,286,532.00TasFALSE
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Gross Profit Before Tax$161,453.98WAFALSE
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Money Partner Investor Profit 20% Before Tax$40,748.00Investors Return After CostsSA
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Myself and Other Investor Share Profit 50/50$120,705.98Our Profit Shared 50/50NTFALSE
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Calculations
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This is offered as an overview only and should not replace your own Due DiligenceClosing Costs at4%$34,000.00
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Our MoneyBank/Money PartnerTotalLoan Costs: To Buy the Property
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Step 1%%Loan$680,000.00
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Purchase CostsPurchase Price$170,000.0020%$680,000.0080%$850,000.00Type of LoanInterest Only
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Stamp Duty$33,740.00$0.00$33,740.00Term In Years25
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= Total Purchase Costs$203,740.0020%$680,000.00$883,740.00Repayments perMonth
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Interest per annum4.500%
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Step 2Investor 20% Cash on Cash Return$40,748.00$21,250.00First PaymentEnd0
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Daniel loan repayments$4,052.02Periodic Payment$2,550.00
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Purchase Loan Repayment$30,600.00Weekly Payments$588.46
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$75,400.02
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Subdivision and Reno Convert to DuplexLength of loan12Months
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Holding costsJV Solicitor Drawn Up$2,000.00power? - existing line splits in quotes
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Renar wages whatever @25 hr$7,000.00power usage?Loan Costs$30,600.00
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Daniel Project Management onsight$10,000.00Weekly
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Draftperson$3,000.00
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Insurances$1,200.001200updated!
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Rubbish/ dumpster$800.00Rubbish ? - added in
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Change Carport fitout a living room$4,000.00
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New driveway crossover $2,000.002000i can pour it only needs boxing etc
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Carport Leen-to to bourbary fence$3,000.00if diy /
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Stormwater downpiping new$500.00new storm water down pipe
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Fence$2,000.00
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Outdoor landscaping$5,000.00
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Entrance door second dwelling$2,000.002000door, fit, paint, elect
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Surveyor new fence lines pegged$1,000.00door go through existing window bay
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New upgrades taps, lights etc]$5,000.00
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Paint DIY$3,000.00
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Kitchen DIY and shop around online$5,000.00if diy /+ tiles plum elect - shopping around!!
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Plumber new connections$3,000.00plumber quoted max guestimate
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Electricity new meterbox$5,000.00electrician quoted max guestimate
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New fire rated partition wall$5,000.00$850,000.00? quotes ? - no carpentry quote as yet
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Large Reno contingency$40,000.00
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Rent Management$588.007%0%Reno Westpac Loan at 5.42%
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Other$2,000.00$112,088.00Loan$60,000.00
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Type of LoanPrinciple & Interest
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Council Costs, Rates etcTerm In Years30
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Rates$3,000.00??Guestimate?Repayments perMonth
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Water added $1000?$1,000.00water usage?
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Strata Titling$2,000.00
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Council Planning$7,850.00Interest per annum5.420%
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Council contribution$30,000.00?Not sure exactly how much this is?First PaymentEnd0
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Finishing Costs$5,000.00Periodic Payment$337.67
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Other Costs/ Contingency$5,000.00$53,850.00
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Length of loan12Months
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We Fund This$165,938.00
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Total Subdivision, Reno & Loan Costs$4,052.02
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Holding Costs$241,338.02$0.00$241,338.02
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Loan Costs:
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Step 3Loan$0.00
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Total CostsTotal Purchase plusType of LoanInterest Only
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Other Costs$445,078.02$680,000.00$1,125,078.02Term In Years25
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Repayments perMonth
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Step 4Interest per annum5.000%
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IncomeNet Rent ProceedsFirst PaymentEnd0
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Periodic Payment$0.00
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Agent suggests could sell 650k each!With a Sherry Barber type reno could be extra
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Sale ProceedsLength of loan12Months
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Sell Renovated Property 1$640,000.00
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- Sale Costs atwe try sell Gumtree/RE.com0.001$640.00Loan Costs$0.00
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Sell Renovated property 2hot sellers market$640,000.00
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- Sale Costs atwe try sell Gumtree0.001$640.00Rental Income: Calculations
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Rental incomecould rent after individually rent income could be higher deppending$7,812.00Rent per period$600.00perWeek
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- Sale Costs at$1300 conbined rent after finished0%$0.00Weeks to be Rented14
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Subdivision 3$0.00Total Rent for project$8,400.00
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- Sale Costs at3%$0.00
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Subdivision 4$0.00Examples of Council Surveys, Tests, and other Subdivision Costs
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- Sale Costs at3%$0.00Council Lodgement Fees$1,000
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= Net Sales Proceeds$1,286,532.00Council Subdivision Plan fees$600
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Subdivision Viability Study$550
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Step 5Site Survey$220
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ProfitNet Income$1,286,532.00Surveyor$3,800
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- Total Costs$1,125,078.02Council Water Design$200
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= Expected Profit$161,453.98Council Sewerage Plans$330
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Profit breakdownMoney Partner 1). Investor 20% Cash on Cash Return$203,740.0020%profit before taxplusprofit$40,748.00
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What if >>
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total money Ian gets back$244,488.00
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JV Partner 2). - No cash invested - do own tax$0.00Percentage split50profit$60,352.99Council Water Supply Fees$1,800
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total money serena gets back$60,352.99
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plus work Wages$7,000.00$67,352.99
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Myself 3). - Cash invested - do own tax$165,938.00Percentage split50profit$60,352.99
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total money daniel gets back$226,290.99
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What if >>Profit each if going 33% Each Investor 1). 2) and 3).$53,817.9933.33333333profit$53,817.99
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Step 6Expected Profit Calculated Again$161,453.98Hydrolics Engineer$2,000
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