Excitement time - just boughta house n land

Viewing 6 posts - 1 through 6 (of 6 total)

giddo
Member
@giddo
Join Date: 2005
Post Count: 152
February 16, 2006 - 12:28 am
Whoopee
It is exciting to be buying again. Haven’t bought any since 2001.
Got a good solid roomy 30’s 3 bedroom “character” home on a corner block yesterday.
The corner block is 1000sq m and is zoned for D. O., Multiple units, Motel even.
I believe I could also get a subdivision thru too.
The house is too good to shift I think at this stage.
A new block would face a nice quiet street. Even the sewerline is in a convenient location!
Now all I need to do is to explore all my options.
To rent the house out while I decide what to do I only need to put carpet in one room. All the rest is in great shape.
Return for the property will be an ordinary 5.1%.
But once I get the development side happening I reckon I can easily make it cashflow positive .
Any thoughts anyone. Do you like these sort of small developments? I do.
Again -…………………Yahoo!! [biggrin] [happy3]
Giddo
http://www.standrewsplace.com.au
KNOWLEDGE IS POWER
salacious
Member
@salacious
Join Date: 2003
Post Count: 373
February 16, 2006 - 12:50 am
Congratulations.
Which state did you purchase property?
Dom[biggrin]
giddo
Member
@giddo
Join Date: 2005
Post Count: 152
February 16, 2006 - 1:34 am
SE Qld Sal…….
In my hometown where I know the market -where else???[exhappy]
Giddo
http://www.standrewsplace.com.au
KNOWLEDGE IS POWER
Luke Taylor
Participant
@world-changer
Join Date: 2005
Post Count: 415
February 16, 2006 - 7:06 am
Good work Giddo!!
Enjoy it!!
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email Me
Property Support,Strategist and Buyers Agent
Don Nicolussi
Participant
@don
Join Date: 2005
Post Count: 1,086
February 16, 2006 - 7:50 am
well done, i reckon don’t let the idea go cold. get in to see your planner/suveyor and get the ball rolling. no better time to start than today.
regards
don
D&L Property Projects Ltd
Sourcing Quality Investments in New Zealand.Email to receive current deals & New Zealand Information Sheet.
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Don Nicolussi | Mortgage Broker - Home Loan Warehouse
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"I think of finance as a technology, a way of getting things done." Robert Shiller
giddo
Member
@giddo
Join Date: 2005
Post Count: 152
February 17, 2006 - 3:50 am
Thank you all.
Yes DLPP, I think you are right – once the committment is made it is time to MOVE.
Every week I delay is a week later i will have a bit more $$ in my pocket!
I am thinking town planner first then surveyer.
I have never used a development co when I have done this stuff before I always seem to manage to wobble my way thru ok.
Do you think it is a good idea to get a company to manage the whole process for me?[hmmm]
Giddo
http://www.standrewsplace.com.au
KNOWLEDGE IS POWER