In these uncertain time has any one here considered a JV Partnership with friends or family.
Obviously over the next few years there is going to be some uncertainty, so now could be a great time to TEAM up.
The advantages here is that you can form a trust or company structure and start looking at more expensive areas that will out perform outer suburbs.
As an example I live in Sydney and I have just bought a 900 m/sq block of land in Warrawee with a girl friend … we are in the final stages with Clarendon home designing a 5 bedroom home with media room, study, 3 marble floor bathrooms, granite kitchen etc … quote so far included ducted air and alarm is $345,000.00 (all the bells and whistles) plus 50k to finish the tiled flooring and pathways so total cost $425,000 + purchase $699,000 have have been quoted $1.45 – $1.8m when completed and we could rent it for $1,800.00 per week then use the equity to do it again.
My point here is that you can team up with 2/3/4 people you know and trust and have some fun making money over the next 5 years.
Our Buying rules are:
Prestige areas on the North shore
Trains, buses and private school easy access
Walk to shops and parks
Older areas with high growth stats
Flat easy to develop land no easements and high sideSomething different and something to think about.
D
W4L,
Couldn't agree more, now is a great time to pool resources for a common goal. Late last year I bought a block of land on the river in Tweed NSW with 2 of my friends and we currently have plans in council for 12 units. Each one of us has something different to bring to the table in the way of skills, experience, cash flow and equity and could not have done it without the others.
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