In this article, we’re going to shine the spotlight on property developers Brighton and learn how you can make a serious profit from successfully developing existing land.
Pulling off a property development that makes a profit is a lot like baking the perfect cake. You have a tried and tested recipe, and you stick to it.
If you skip a step in the process or substitute an ingredient, often you end up with a subpar cake.
Similarly, in this game, if you rush things or get too emotionally involved, you can scupper a successful project.
And one piece of the recipe is the right location.
Side note – check out this article on property developers in Brighton East, it breaks down why building a dual occupancy beach-side makes every bit od sense.
Brighton – A Jewel of Melbourne
It’s close to the beach, close to trendy St. Kilda, has street upon street of gorgeous homes and is close to many local amenities.
From public to private schools, golf courses, parks, cafes, restaurants, bars and more – it’s a dream location.
If you take a walk or drive through Brighton today, you’ll notice townhouse developments popping up left, right and centre.
And there’s a reason for that – there is money to be made.
And we’re not talking spare change; there is some serious money for property developers Brighton if they play their cards right.
How Do Property Developers Make Their Money?
This is a great question.
If you multiply this profit by three or four, or whatever the number of properties is, you can make some serious profit.
We’ll give an example of a development in Brighton below, it should give you a feel for how much money can be made.
Are you Considering it for Yourself?
If you own land in this suburb, no one is stopping you from becoming property developers Brighton.
Even if you don’t have land, but are considering investing in property development, Brighton is a brilliant suburb to consider doing a dual occupancy townhouse development.
But this isn’t something that you can dive into straight away.
Like we said above, there are a bunch of moving parts, and you need to have some decent knowledge and experience to manage development projects.
A bit further on in this article we’ll explain what you can do if you’re keen but are uncertain or lacking the confidence to try this yourself.
But for now, let’s look at an example of property developers Brighton making some serious dough.
An Example Property Development in Brighton
Let’s dive into an example of a successful real estate development in Brighton.
Let’s look at numbers 8 and 10 Maysbury Avenue in Brighton.
Now, number 8 (above) was sold for 2.65 million dollars in 2018.
Number 10 (see below) sold for 2.68 million dollars in 2020, and based on that sale it is fair to assume that the second property sold for a similar figure or is at the very least worth that much as an asset.
So your total sales amount from both properties sits around 5.33 million.
If you then subtract the purchase price it leaves 3.08 million to complete the development.
There is still more than enough meat on the bone to assume that the developer made some serious money on this project.
This is why we’ve highlighted property developers Brighton for this article.
This suburb can be a fantastic place to develop if you find a suitable lot and know your systems and processes.
As you can see from this example, residential property development isn’t an overnight venture. The development lifecycle takes time to complete.
There is often a year or two spent on a project before completion.
Delays can occur, due to various factors, and there’s a level of risk to manage as well.
But, for a savvy developer who knows their systems and processes well, it can result in a tidy sum in the bank at the end of a project.
Engage the Professionals
Now you might be reading this and own land in Brighton.
And it is a good idea, but like any investment, there are risks.
And this is a high risk, high reward venture. But, if you are armed with knowledge and can mitigate risk, you are heading for a payday.
What we do at Little Fish, day in, day out, is manage side by side dual occupancy projects.
We operate all over Melbourne and simultaneously manage multiple projects at once. It’s all that we do.
We are experienced, capable, and have our systems and processes highly refined.
We also have access to an established network of professionals, including town planners, conveyancers, sales agents, townhouse builders and more.
If you’re considering becoming property developers Brighton, but lack the knowledge and confidence, that’s where we come in.
We can development manage your project for you, and you can learn as much or as little as you like.
Some people want to sit back and take an “armchair” developer approach. Say your project is in Carnegie, we have the relationships to connect you with Carnegie’s best builders.
At the same time, others love to keep us there as project consultants to learn and collaborate with which we are more than happy to do.
Whatever way you want to go, we work for you and follow your lead.
You can also follow along with your project via our custom project portal, as we keep you in the loop throughout the entire duration of the project.
Get in Touch
So if you’d like to chat with us about becoming property developers Brighton, please feel free to give our friendly development team a call on 1300 799 277.
We can either work with you to maximise the value of your land or work for you to identify a prime site and develop it for profit.
Get in touch today to learn more.