All Topics / Value Adding / First Time Investment – First Time Development – PLS HELP

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of Dan WaringDan Waring
    Member
    @dan-waring
    Join Date: 2008
    Post Count: 6
    December 8, 2008 - 4:40 am

    Hi All,

    First time posting on the internet so here goes….

    I am interested in buying a block of land in a town called Collie, WA which has a few large (expanding) mines nearby. The blocks are of reasonable size (900m2 – 1100m2) and priced between $69K & $130K. Im interested in buying one block, building 2, 4*2 houses for $150,000 ea. I have an over the phone approval from the Bank for finance etc. The average rental income (fully furnished) is $400-$500p.w and Im expecting these houses will be valued $300,000 ea when finished. Also, should i Strata title of Subdivide?? Pls help

    Dan

    Profile photo of Dan WaringDan Waring
    Member
    @dan-waring
    Join Date: 2008
    Post Count: 6
    December 10, 2008 - 1:06 am

    No need to respond guys, the particular block I was really interested in is sold, and well … I've been advised against buying in Collie as its a 'mining' town…

    hmm..

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.