Expected Uplift: $500K+
- Estimated cost: $1.77M
-
Estimated value: $2.3M+
NSW
Attached Duplex
We Can Create $500k-$1M+
Uplift in 15-24 Months With
Custom built Duplexes from $1.5M*
*See disclaimer in footer
AS SEEN ON
Proud winners of the APAC INSIDER AUSTRALIAN ENTERPRISE AWARD 2023
HOW WE GENERATE HIGHER UPLIFT WITH DUPLEXES
There are several contributors to achieving higher uplift. The development and subdivision process clearly creates the majority of the uplift. In conjunction with this we have been able to add even greater value to our clients’ projects utilising these two methods:
- Location is crucial: But we go further than simply finding sought-after areas with strong growth prospects or tenancy demand. We achieve even higher uplift by sourcing blocks of land in proven locations where the land and construction costs are low compared to surrounding dwellings. These unique pockets are incredibly rare and are identified by our dedicated research department and presented to our clients. Even short-term uplift with single dwellings is possible, so this effect is magnified with duplexes.
- Custom builds bring many benefits: More on that below. One such benefit is they allow us to tailor each project’s design and specifications more closely to the demands of the local demographic. By working with local professionals, we aim to determine the key design elements and specifications that attract higher paying buyers or tenants without over-capitalising.
Wolfesmiths: standing out from The pack
Higher uplift matters but so does reliable service. A lot of the feedback and testimonials we receive speak to our high level of service, diligent research, and the constant refinement of our processes.
- Perfect approval record: We follow stringent processes to increase the feasibility of a successful project. These processes undergo regular reviews and we’re proud to say we’ve never been declined by councils for a non-compliant project to date!
- We’re obsessed with research, transparency, and communication: This allows us to assess open-market opportunities faster than others, while our industry connections bring us many off-market opportunities. We pride ourselves on building strong relationships with clients and much of this is down to our transparent and open approach. That means you’ll know what’s going on with your project and money, and you’ll be able to chat with us whenever you need to.
We have created $500k – $1m+ for clients already and can now achieve this in as little as 15-24 months.
Check out our Larger Projects page if you’re looking at going beyond duplexes and into bigger development projects with higher uplift potential!
Recently Sourced Duplex Investment PROJECTS
Expected Uplift: $800K+
- Estimated cost: $2.2M
-
Estimated value: $3M+
NSW
Attached Duplex
2
Expected Uplift: $900K
- Estimated cost: $2.83M
-
Estimated value: $3.7M+
NSW
2x Detached Homes
NSW
NSW
HIGH-QUALITY CUSTOM BUILT DUPLEXES
IN STUNNING LOCATIONS
Sourcing and delivering high-end custom-built duplexes can be a lot more rewarding than cookie-cutter house-and-land style duplex packages.
Custom builds unlock infill lots in superior established locations, whereas cookie-cutter designs are best suited to ‘vanilla’ blocks in new land estates. The many benefits of infill locations include:
- Proven track record of property performance for both growth and rental statistics providing investors with more confidence in uplift projections
- Existing infrastructure to assist with buyer and rental demand
- Less competition at completion
- Shorter wait times. Potentially saving 12-24+ months in overall project time compared to waiting for extremely uncommon, duplex suitable blocks from new land estates
- Stunning coastal or hinterland locations! Most of the areas we work in happen to be beautiful. This boosts demand and lifestyle appeal
Custom builds allow us to match the property to the local demographic, which is a significant factor for generating stronger competition when it’s time to rent or sell. They can also unlock ‘hidden gems’ many others miss.
Over the years we’ve honed and improved the research and development process to get this formula right. We’re able to assess the most challenging blocks for duplex feasibility which helps our clients lock down fantastic opportunities.
A BOUTIQUE FIRM DOING IT DIFFERENTLY
We are site-sourcing process managers who work with custom duplexes and small-medium developments.
A quick look at our reviews and testimonial videos will show that we’re open communicators who tell it like it is. It’s easy to reach us and we keep you informed throughout.
We’re also transparent about what you’ll pay, when you’ll pay it, and our fee structure. We work for you directly and all info about what we earn is made clear up front.
You may start to see why many prefer to repeat their successes and develop multiple duplexes with us. Long-term relationships and even joint venture partnerships are on the table.
We can help you transition into property development full-time if you’re interested. Read our FAQ on ‘What Do WolfeSmiths Do?’ for more details.
MIKE
‘Someone that knows the business and wants to help people’
ANTHONY
‘Just feel like you’re in very good hands… I like people who let me know what’s going on with my money,
and you guys do!’
STORM
‘You guys had a proven track record. That’s what I always look for, people that can deliver.’
HOW WE ADDRESS RISK
It’s no secret that developing property can be a challenging process with a lot of potential for extra delays or costs.
We cannot completely remove risk, it’s not possible in any investment, property development or otherwise. However, we have built in risk-mitigation precautions at every step and will stick with you to help you feel confident throughout.
From the outset, we have staff dedicated to our two-pronged research approach before we present any investment opportunities. We lean heavily on data whilst also keeping an ear to the ground, leveraging the contacts we have built over the years such as local agents, town planners, builders, developers and even some of our own clients. This thorough approach ensures our clients are presented with strong opportunities, with high uplift potential, where growth and rental prospects are also considered. Our projects are designed to meet the demands of the area, generally in high-lifestyle appeal locations with existing infrastructure.
Here’s common examples of principles that not only allow us to mitigate risk, but have also allowed us to achieve uplift of $500k – $1m+ for our clients to date.
- Avoiding cookie-cutter designs: they don’t take full advantage of the block or local demand, they look the same as others and hurt your chances of getting top tier tenants and buyers upon completion
- Limiting projects in new estates: There are exceptions to this rule but generally, there is less proof of success than established locations. They can add 1-2+ years waiting for land registration and you’re at risk of selling or tenanting at the same time as your neighbours, resulting in a price war.
- Build in a buffer: While we plan for surprises, we recommend having more than just the minimum funds available to start, as materials and market conditions can and do change. An independent financial adviser can help here.
- Stringent Project Assessments: We’ve never had a council disapproval due to non-compliance to date, which can be one of the greatest pain points in any project. This can be credited to our stringent pre-purchase site checks.
- Working with quality builders: Our full-time builder liaison officer develops strict requirements to ensure we work with capable and motivated builders, and our volume of business helps achieve sharp m2 rates that increase uplift potential.
- Minimising cost and time blowouts: We carry out 4 reviews throughout the delivery of every project to ensure we have our finger on the pulse of costs and expected uplift throughout the 15-24 month project timeframe. We continuously review our processes to ensure efficiency, reducing timeframes wherever possible.
The main ‘catch’ buying higher uplift duplex opportunities is that they are in short supply due to the limited number of established areas where uplift through small developments is possible.
WHAT INVESTORS NEED TO START
In our initial discussions, we will clarify your situation to confirm whether you are in a good position to go forward with a duplex. Below are requirements for new investors:
- A $1.5m+ budget, plus a comfortable buffer – Note lower priced projects are possible but have become rarer
- A secure income and/or capital to cover holding costs during the estimated 15-24 month project timeframe
- Prior investment experience preferred. Strong communication throughout is a must
Note that even if you’ve invested in property several times before, we will guide your project every step of the way.
We suggest you do not overextend yourself to the largest possible project you can afford. It is common to begin additional projects shortly after, or even before realising completed project gains. There will always be more opportunities to expand into larger developments as your experience increases.
what's next?
If this sounds aligned with your objectives, here’s a brief rundown of the next steps if you enquire today.
- A brief connecting call to ensure we can help.
- A 30-minute Zoom consult will be booked with one of our founders or senior team members. You can ask any questions, and we’ll get a good idea of your wider aims and what you are looking for in a project and a team.
You’ll learn more about how our projects work and understand how we have achieved high uplift for our clients already. You’ll also get a good sense of what we’re like to work with. By the end of this call you should have a good idea of whether we are a good fit or not. If you decide you are not quite ready to go further, you can still keep up to date with available projects via our mailing list. - You can opt into our VIP program. This gives you early access to all of the information on duplex and development opportunities as they arise. You’ll receive all info prior to our general mailing list to give you first rights (along with other VIPs) to the best projects. This requires a $1k +GST fully refundable engagement deposit.
This deposit ensures we are sharing valuable information and IP with serious enquiries only. It keeps our strategy, preferred locations, and project specifics safe from the wider public, to help safeguard opportunities for clients and ensure you’re hearing about them first. There are no refund conditions, you simply request for your deposit back and whether you decide to go ahead or not, the only consequence in either case is that you lose VIP access to any new projects.
Our Research Process And Data-Driven Insights
WolfeSmiths has a 2-pronged research approach. We lean heavily on data whilst also keeping an ear to the ground. Gaining a feel from local professionals such as valuers, planners, agents, builders and developers. When you are assessing a project, we can provide:
1
All available site information including the COS and selling agent details
2
Build concepts, plans, price estimates and inclusions options and guidance
3
Local agent perspectives, comparable sales, multiple appraisals, and contact details to help assess uplift and cashflow
4
Analysis of the local market and demographics
5
Information about current and future infrastructure that may lead to increased demand
6
Research reports
IS THIS RIGHT FOR YOU?
Research
driven
Full process
management
Professional
network
Listen To Some Of Our Client Success Stories
NUNO
‘There’s nothing hidden… the communication has been really good and that’s what I like’
Testimonial Video
Hear from several recent clients!
LUKE
‘Communication is always there if I’ve ever got a query to be guided through the whole process’
3 OPTIONS AT COMPLETION WITH CUSTOM DUPLEX INVESTMENTS
1
rent both
This is the simplest of the strategies. You can enjoy potential long-term capital growth, tax savings and rental income. However, you need to be mindful of servicing requirements and holding costs if you intend to grow your portfolio with this strategy.
2
sell both
On completion, many of our clients decide to sell both properties, pay off any debt, and collect any profit (uplift - costs) in a lump sum. There are tax implications here, but this potentially creates a 6-figure profit in 15-24 months as a part-time, professional developer.
3
sell one, hold one
Another great strategy is to try to get the best of both worlds. You can sell one, hold one. Pay off some of the debt with any profit realised, and hold the other for potential long-term growth, tax benefits and rental income with reduced overheads. This can offer fantastic flexibility and is the strategy property developers have used for decades to build large property portfolios.
Caring for our community
We are proud to partner with Children’s Ground and Elevate Residential. For every project completed with WolfeSmiths, we will donate $1000 directly to a worthy cause that we have experienced brings meaningful results back into communities that need it most. Learn more about these wonderful organisations on the Our Impact page.
2023 DUPLEX LEADER AWARD
WolfeSmiths are the official winners of the 2023 Australian Enterprise Award for Leading Duplex Specialist! It’s great to be recognised for our hard work.
Curious To See How We Can Help You?
If you’re ready to see how we operate and get full opportunity details, let’s jump on a quick call together. We’ll discuss your current situation, opportunities available, and whether we’re the right fit for your aims.
The catch? Opportunities are limited and there is strong competition for the best sites. If you’re a serious buyer, we recommend getting in touch now and booking your free consult. Here you can determine if joining our fully refundable VIP program would suit you. If so, this will secure our services and give you early access to the best opportunities as they become available.
Alternatively, you can join our free mailing list to receive ‘teaser’ releases of upcoming opportunities. Enter your details below and book your consult now to get started.
Have Questions?
THIS IS WHAT WE GET
ASKED MOST OFTEN...
In a nutshell, ‘uplift’ is the difference between the cost of the properties themselves, vs what they are worth at completion, factoring the costs of the land, construction, and development costs. These costs include council contributions, tests and reports required from consultants, your custom design, town planning and our fee, which is worked into the deal (see ‘HOW DO WOLFESMITHS GET PAID’ below). Costs not factored include purchasing costs (such as stamp duty and legal fees), holding costs (interest and council rates), or selling costs, if selling (agent fees and relevant taxes). These costs need to be considered when determining net profit. This is something we can help you determine through our network of affiliates if desired but requires more information, particularly around funding.
Note: we do not factor projected capital growth in uplift estimates, this is seen as a bonus on top if achieved. Also, all end-value figures are determined by no less than three independent agent appraisals, with all agent details provided to clients for cross-referencing.
Buying in locations that support high-uplift opportunities, where land and construction values are more affordable compared to existing dwellings, goes a long way to creating short-term uplift. But there is no doubt that constructing a duplex or small development and subdividing into separate titles has generated the majority of the gains we’ve achieved for clients. See How We Generate Higher Uplift With Duplexes above for more information.
Our custom builds also allow us to work on infill, registered lots that eliminate waiting times for land to register, and private certifiers make the low-end estimate of 15 months to develop and construct possible. This process is not always feasible or favourable from a design perspective, hence the more common 24 month time frame estimate to develop through council. See Our Process page for a greater explanation here.
We specialise in research and process management to assist clients in purchasing high-quality small development opportunities such as duplexes. We are not real estate agents and do not make commissions on the sale of any land or real estate. In other words, we do not ‘flog’ stock. We locate opportunities and assess them for development and investment potential, targeting either uplift, capital growth potential, cash flow, or a balance of all three. Our team then manages the entire process, leveraging external professionals where needed. From initial research, through construction, organising leasing or listing agents at completion and everything in between, to ensure you are supported through the entire journey.
Note: we are not financial planners, but can refer you to one if desired.
At WolfeSmiths, we have dedicated our business model, team and processes to targeting higher uplift from small developments, such as duplexes. We separate ourselves from the pack by specialising in custom builds, which bring many benefits (see ‘WHY CUSTOM BUILDS’ on Our Process page). Aside from this, we take a proactive approach to monitoring and improving processes, even those of our affiliates and builders, to refine the client experience and project delivery. We will likely be a great fit for you if you lack in any of the below areas
- Time to locate, manage and deliver projects
- Development or research experience to be confident with council guidelines and the feasibility of your project
- An experienced team of professionals to bring it all together
- Knowledge of the rare locations that support uplift in projects from $1.5m
Similar to an architect or engineer, our fees are paid as we progress your project through the development process. We are not real estate agents and DO NOT take any commissions on the sale of land or real estate. Often, the cost of our fee is offset by the savings from the sharp m2 rate we receive from builders due to the volume of work we provide them. Rebates are also an option, speak to us to find out how this works. All our research and site spotting is conducted at our risk. There are of course many other costs required to get through council approval, such as your custom design, site surveys and reports, council contributions and more, but please note that these are factored into and included within all estimates provided.
See the diagram below in the booking section for more information on the process, or view Our Process page. Our clients appreciate that we are committed to delivering transparency and a ‘no fluff’ approach. If we can help, we’ll get to the point and provide you with all the info and support you require to assist with assessing any options you are considering. If we do not feel we are a good fit, we will do our best to point you in the right direction.
book a cALL
Your first step to finding your next project
1
GENERAL DISCUSSIONS
2
VIP CLUB - ASSESS LIVE PROJECTS
3
PURCHASE, DEVELOP AND CONSTRUCT PROJECT
4
ONGOING SUPPORT AND STRATEGY REVIEWS
