Recently Sourced Duplexes
Expected Uplift $140,000*
Estimated cost: $660,000
Estimated value: $800,000
Estimated rent: $860 pw
Expected Uplift $260,000*
Estimated cost: $1,000,000
Estimated value: $1,300,000
Estimated rent: $900 pw
Duplex Program: Instant Uplift, Strong Cashflow & Long Term Prospects
The old way of investment involved buy-and-hold strategies that required a lot of patience and minimal control over your returns. Why wait for perfect market conditions when you can create short-term equity NOW while maintaining long-term growth and rental prospects? Creating equity through well selected, small developments such as Duplexes will give you some of the most reliable and profitable results in property.
Duplexes – Guaranteed Six-Figure Uplift
Duplex projects provide high short-term returns, in as little as 12-15 months while offering unrivalled flexibility! WolfeSmiths can take care of the due diligence and project management making it a relatively easy process for you, considering the complexities of property development. These are the options at your disposal at completion:
- Hold both properties for ongoing positive cash flow, capital growth and tax benefits
- Sell both at completion for an immediate profit
- Sell one keep one. For the best of both worlds and to reduce debt
How We Find Winning Duplex Opportunities
The main ‘catch’ with developing profitable duplexes is actually finding and securing an opportunity that ticks all the boxes in the first place. Even in normal market conditions, they are extremely popular and having the time to assess risk and profitability before the lot is lost to the open market is a key challenge. You need expertise and a network of professionals to have the confidence to pull the trigger on any opportunity, let alone a small development. At WolfeSmiths, we have a 2-pronged research approach. 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, builders and developers. There are many lots that could be duplex suitable, but very few are selected by WolfeSmiths or our clients. We are thorough with our approach giving our clients as much confidence and knowledge as possible to assess their small development opportunity and to help them realise a profitable investment.
When you are assessing a project, WolfeSmiths can provide:
- Analysis of the local market and demographics
- Information about current and future infrastructure that may lead to increased demand
- Multiple sales and rental appraisals to confidently assess uplift and cash flow
- Research reports
- Build plans, pricing and inclusions
- Local agent perspectives and contact details
- Access to our professional network as required such as mortgage brokers, accountants or solicitors.
We’re constantly assessing many areas, filtering the opportunities we feel provide the best investment prospects. Our process mitigates risk and maximises returns.
A Typical Duplex Project Process...
1. Land Acquisition
WolfeSmiths has vast experience in locating the great investment locations but clients can also bring land to us to assess. It depends on our investor’s goals. Factors to consider are uplift potential, long-term growth prospects, rental yield, tenancy demand and many others. Different areas offer different benefits and will be selected accordingly in line with the intention of the investor.
For example, someone looking to flip will be looking for short-term uplift. Someone who has a low risk appetite may be more interested in strong rental yield and tenancy demand. Or another investor may want some uplift but want to ensure they get the best long-term growth prospects. Or the investor may want a balance. All these things will change the area we select.
Regardless of the brief, extensive due diligence is carried out to check the location will be suitable. From a macro level (state, city, area) to a micro level (suburb and the specific block) all bases are covered.
We work with agents, builders and developers to access the best blocks possible. From new developments to vacant blocks in established areas.
It is important to carry out checks with council and the developer to ensure, as best as possible, that a duplex dwelling will be allowed.
2. Build Design
We work with our network to ensure the property is designed to meet the demands of the area. Getting input from local agents to assist in this process. From inclusions to bedroom numbers amongst other things.
What is important is that there is a market for the property type.
3. Builder Selection And Pricing
We then select one of our trusted builders or if a new builder is needed in certain locations, they are reference-checked to ensure quality.
We help negotiate the construction price and inclusions and ensure that the price is fixed (where possible) but is certainly turnkey and tenant ready. If there are any unknowns that could impact pricing, we do our best to provide a solid understanding of the potential variables prior to any major decisions being made.
In a nutshell, everything is included and nasty surprises and risks are mitigated!
NOTE – Included in the build contract is, council contributions, subdivision and strata or Torrens title costs. This can cost up to $30,000 – $50,000.
We secure Development Approval (DA) and Building Approval (BA) as required. In some situations, we are able to work with private certifiers who can “rubber stamp” approvals in as little as 2 months. This is not always possible but when it is, it can save months and $1000s in holding costs.
We then project manage the construction through to handover including approval. We provide regular updates and engage
independent inspectors to ensure quality at handover.
6. After Handover
We complete subdivision and titling – We then engage relevant agents to assist with leasing and managing, or selling if desired. Our network can help with depreciation schedules or refinancing to access additional equity. As mentioned above, there is often enough for another deposit by this point.
But don’t just take it from us...
Really prompt and professional service. The team are really knowledgeable and good at breaking down complex financial terms so it’s easy to understand and make decisions about.
Was so scared to enter the market having no prior knowledge or understanding with the ins and outs of property investment but talking with nick setting up plans and timeline goals was amazing and makes the process and fear of it all so much easier
Nick has a wealth of knowledgeand eagerness to help tune up your financial situation. His work ethic and dedication to serving clients is inspirational.
After working with Nick for a few years it’s evident to me how exceptional his industry knowledge is and more importantly his willingness to put the customer’s needs first really stood out for me.
Highly recommend the Wolfesmith team!
I enquired with WolfeSmiths about 3 months ago and have to say we’ve been really impressed so far. We weren’t very confident in finding a viable investment given all the uncertainty in the market. However, the duplex opportunity that was presented to us completely exceeded our expectations. The extensive due diligence that was carried out made it evident that a lot of time had been dedicated to helping us get the best deal possible and really put our minds at ease. Would definitely recommend!
Luke & Sarah
Nick was extremely helpful and knowledgeable about the processes and important information needed. He went above and beyond for us and always took into account our needs and wants. We loved his enthusiasm and well informed assistance he offered. Thank you very much WolfeSmiths, we really appreciate all your tile and efforts! Can’t recommend them enough!!
Have dealt with Daniel and Nick on many business dealings over the last 5 years – clear, concise communication and very straight forward to deal with.
Highly recommend both these guys to deal with on all levels
I have known Nick and his partner for over 7years now, originally through a mutual friend of ours. Since then I am hard pressed to think of a harder worker or a more real person that I know. Not only has he helped me with crucial business decisions but he’s also been there to have a laugh along the way, making processes that can be arduous and stressful, light fun and exciting. If you are on the edge of making a decision for your family, I wholeheartedly ask that you to let Nick and the team at Wolfesmiths to help you make that step.
Book A Consultation
Your first step to finding a perfect fit property. We won’t share your details with any 3rd parties.
1) Client and service assessment
2) Duplex or house assessment
3) Purchase of investment
4) Ongoing professional support and reviews
FAQ's - How it all works
Uplift is the difference between what you pay for the property vs what it is worth at completion.
See diagram above in the booking section for more information on the process. However, we can guarantee that you will get 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 may be considering. If we do not feel we are a good fit, we will do our best to point you in the right direction.
For duplexes with a combined land and construction value of $900,000 and above;
We guarantee $150,000 uplift. If this is not achieved, WolfeSmiths must pay $10,000 by way of bank transfer or bank cheque to the client.
For duplexes with a combined land and construction value of $800,000 and above;
We guarantee $100,000 uplift. If this is not achieved, WolfeSmiths must pay $10,000 by way of bank transfer or bank cheque to the client.
The difference between;
- The contract prices together of the Building Contract and the land contract;
- The Appraised Market Value at completion.
Appraised Market Value is determined by taking the average of 3 local real estate agent’s Market Appraisals at completion.