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Triple Splitter Block

Triple Splitter Block. Peter Skurr. Current Deal… Not What You Think 1203m 2 3 bed 2 bath 3 lots Tennis Court!. 3 Lots on 1 Title. 1 house with a tennis court. The Plan. Purchase entire site on 1 title with 3 lots Register 2 lots on 1 title for the house & leave the spare vacant lot

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Triple Splitter Block

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  1. Triple Splitter Block Peter Skurr

  2. Current Deal… Not What You Think 1203m2 3 bed 2 bath 3 lots Tennis Court!

  3. 3 Lots on 1 Title

  4. 1 house with a tennis court

  5. The Plan Purchase entire site on 1 title with 3 lots Register 2 lots on 1 title for the house & leave the spare vacant lot Sell the house on 2 lots Retain the vacant land to build on or sell in the future

  6. Budgeted Numbers Cash Out Cash In Land Owes Us $143k Land Valued at $330k Equity created in 3 months: $187k Purchase Price $630k Stamp Duty $22k Sewer $8k Register title $300 Fencing $3k Hold Costs so far $6k Expenses - $669,300 • Sale Price of house and 2 lots $540k • Minus • Agent $14k Net Sales Proceeds $526k

  7. Lesson Learned So Far…. 2 weeks leading up to xmas is not a good time to start marketing a property for sale! Being on a main road impacts on the price more than you might think Not all 3 bed, 3 baths are the same

  8. Where to from here? New owner is an investor renting the house Vacant lot is on the market now. If no sale, the equity will pay for the DA to start the build Anyone want a tennis court??

  9. Any Questions?

  10. Thank You Peter Skurr peter.skurr@iinet.net.au

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