Page 1

Investigation Phase One

Investigation Phase Two

Investigation Phase Three

Land
Acquisition

1. Investigate growth suburbs; CBD + 7 km

2. Good road, rail access to CBD
3. Good shopping, school, medical amenities
4. Select best suburb & drive all streets.
5. Grade 1st,2nd,3rd class streets;Note Down
6. Special note of untidy houses
7. Create File of all Data

1. Go to Authority Planning Dept.

2. Access or buy zoned planning map(s)
3. Color grade 3 classes of streets
4. Check selected houses against zoning
5. Check other street zoning
6. Make list of likely development properties

1. Revisit suburb & properties

2. Score each for your needs
3. Decide on properties to buy

Design
Consultants

1. Ask architect for correct zoning and land

size for your intended project ie 3/4/6 units
2. Investigate Authority Plan.Dept.Facilities

Finance

1. See Finance Broker for Personal

Financial Capacity.

1. Make Preliminary Finance Application

1. Finance Capacity Determined

Sales
Marketing

1. Visit all new unit project displays

2. Critically examine & photograph
3. Collect brochure & sales data
4. Make up files as per Book's advice
5. Visit all agent's offices

1. Talk to project sales agents.

2. Explain your development intentions
3. Find out price resistance level
4. Ask agent for customer's criticism
5. Get Agent's own criticism of unit

1. Check market data file for

current sales prices
2. Decide on price range you can
offer for each property

Construction

1. Visit all building sites for your size project.

1. Get to know builders; tell them you are

starting a new project soon

1. Tell them you prefer to have

builder on the team. See Book
2. Find out $/sqm build cost from
builder + architect as check

Results
Achieved

Area Selection & Investigation

List of Zoned Properties Determined

Properties & Offer Price

Range Determined
Initial Feasibility Study
Completed

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1. Check site capacity calc's

2. Check site dimensions with
architect so units can fit on
each property.

Page 2

Acquisition Phase one

Acquisition Phase two

Acquisition Phase three

Land
Acquisition

1. See Book; will you negotiate the Buy or

will you use a Buyer's Agent?
2. See Book; approach each property owner
ask & listen. If successful:
3. Go away and prepare purchase contract
4. Consider all information & determine a fair
offer; be mean & risk losing property. This
is a one shot opportunity; read book again

1. Land deposit into trust account

2. Original contract to purcheser (you)
3. Copy of contract to seller
4. Copy of contract to seller's lawyer
5. Take action on contract conditions &
note action dates in diary

1. Keep Vendor informed regularily.

2. Ensure Contracts have been sent to all
parties & lawyers

Design
Consultants

1. Land contract; subject to DA

2. Prepare design brief for consultants
including your construction cost budget.

1. Appoint design consultants

2. Start DA design work with architect

1. Complete DA design & DA application

2. Lodge DA application

Finance

1. Land contract; subject to finance

1. Draw cheque for Deposit on Land

2. Advise Finance Broker land is under
contract - subject to DA & Finance &
send copy of contract.

1. Draw cheque for DA application.

2. Do new feasibility study

Sales
Marketing

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1. From Market data file use sales rate

per sq. metre in your DA design for
feasibility study

1. Discuss unit plan with selected Agent

whose opinion is informative & market
aware + get opinion on sales prices.

Construction

1. Find builder you are comfortable with &

follow the Book's advise on how to proceed

1. Get builder to prepare square metre

based price on your DA plans

1. Get plan to builder. Ask him for any

inprovements or cost efficiencies. Give
him a week & visit him again; take notes.

Results
Achieved

Purchase Negotiated on Conditional

Contract; Land Under Control

DA Plans Start Preparation

DA Lodged with Authority

Complete Updated Feasibility Study

Page 3

DA application phase

DA Approval & Finance Submission

Finance Approved

Land
Acquisition

1. Maintain Contact with Sellers

1. Maintain Contact with Sellers

1. Maintain Contact with Sellers

Design
Consultants

1. Architect follows up Authority;

attends Authority meetings

1. Architect resolves inquiries with

Authority on DA issues
2. Get consultants fee proposals
for contract documentation
3. Pay consultants for DA design

1. Appoint consultants for

working drawings

Finance

1. Obtain DA Application fee receipt

2. Start writing finance submission

1. Complete finance submission

& present to finance broker

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Sales
Marketing

1. Ask agents to review sales pricing +

recommended marketing costs.

1. Get real estate agent's sales

prices on DA plans

1. Monitor area sales data

2. Prepare marketing plan
3. Prepare marketing material
4. Pre-sales -Yes/No?

Construction

1. Get builders advice on plans

2. Builder to price plans

1. Get fixed price from builder

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Results
Achieved

On-going Follow Up To Achieve

Data Requirement

DA Issued
Lodge Finance Submission

Finance Approved

Page 4

Land Settled + Body Corporate

BA Lodged

Construction Starts

Land
Acquisition

1. Settle land

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Design
Consultants

1. 1st Working drawing meeting

2. Order soil test

1. Working drawings & specification

complete.
2. Lodge plans for BA (Building Approval)

1. BA Issued

Finance

1. 1st progress claim from bank/land

2. 1st Payment design fees

1. 2nd Progress claim from bank

2. 3rd Progress claim from bank

1. Monitor area sales data

2. Order site sales board
3. Finish marketing material
4. Establish Body Corporate
5. Create sales contract - note presales contract is differs to normal

1. Monitor area sales data

2. Print marketing material
3. Establish actual sales prices for
market presentation.

1. Monitor area sales data

2. Sales material to agents
3. Sell units

1. Builder updates price as working

drawings proceed.

1. Get fixed price & time contract

2. Sign Contract
3. Demolish or Remove House from Site

1. Start construction

Working Drawings Complete

Marketing Materials Complete
BA Lodged
Construction Contract Signed

BA Issued
Construction Starts
Unit Sales Starts

Sales
Marketing

Construction

Results
Achieved

Land Owned
Body Corporate Established

Page 5

Construction & Unit Sales

Construction Finishes & Units Sold

Certificate of Completion

Land
Acquisition

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Design
Consultants

1. Attend weekly site meetings

2. Arch. inspects; issues instructions
3. Arch.certifies builder's claim less
retention amount.

1. Attend weekly site meetings

2. Arch. inspects; issues instructions
3. Arch.certifies builder's claim less
retention amount.

1. Arch. inspects units &

Compiles 'Defects List'
2. Arch.certifies builder's claim
less retention amount.
3. Arch. issues Cert. of Practical Completion

Finance

1. 4th Progress claim from Bank

1. 5th Progress claim from Bank

4. 6th Progress claim from Bank

1. Last unit sold

2. Contract to lawyers

1. Lawyer arranges settlement of unit sales

Sales
Marketing

1. Sell Units
2. Contracts to Lawyer
3. Monitor agent's sales activity

Construction

1. Attend site meetings with Arch. &

inspect works

1. Construction completed

1. Builder attends to defects list

2. Builders rubbish removed
3. Landscaper finishes

Results
Achieved

Construction Proceeds
%Units Sold

Construction Completed
All Units Sold

Certificate of Practical
Completion Issues by Architect

Page 6

Units Settle - Bank Paid

Profit Achieved

Land
Acquisition

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Design
Consultants

1. Architect Final Inspection

2. Architect certifies release of
retention funds.

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Finance

1. Discharge Bank loan from unit

sales income

1. Complete final feasibility study

using Actual Final Figures
2. Determine final profit & return

1. Units settle

1. Unit owners take possession

of their property
2. Follow up after sales service/visit

Construction

1. Defects list completed

2. Builder hands over all guarantees
3. Builder moves off site
4. Builder receives retention funds

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Results
Achieved

Units Settle
Bank Loan Discharged
Builder Gets Final Payment

Profit Target Achieved

Review Mistakes
Where's the Next One?

Sales
Marketing