Dianne Kovacevic and her husband Dave spent years getting ready before they bought a single site. He refused a limited builder's licence and spent a year on slabs and foundations to earn the unlimited one. She completed a diploma in contract drafting and estimation. Only then did they go looking for land.

What followed was four townhouses in Heidelberg Heights and an education that came with invoices attached. Two and a half years fighting the council, including VCAT. A construction loan pulled after unconditional approval, because they were owner builders, a question they had asked in writing before they started. Development contributions of $58,000, a levy of roughly $20,000, and civil works that have run anywhere from $16,000 to $46,000 across their projects. Then COVID, a finished project they could not lease, and money borrowed from Dianne's parents to get it done.

They still made more than $1.3 million on it.

Dianne also talks about the design decision she has never repeated: double garages in the two middle units, which took space out of the living areas and showed up directly in the sale prices. The front unit set an area record at $1,065,000. The middle two sold for $850,000 and $895,000.

She became a mortgage broker after Dave got sick and the family lost its income, and her business now sits squarely in construction and renovation lending. If you have only ever taken out a home loan, this conversation is worth your time.

Dianne is at DK Capital Lending. You can reach her on di@dkcapitallending.com.au or 0478 842 895.

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