Hi all,
I was looking for some land that was subdividable on the outskirts of Melbourne (outside green wedge) and originally looking for around 200 acres. I have found 800 acres, but unfortunately the price is $800K. My idea was to purchase some land and then break it up and keep the remaining land with the profit. My guestimate for this land would be to break it into 100 or 200 acre lots and then sell. 100 acres would sell for around $150K, (6 X 150K= 900K) then keep 200 acres after all expenses.
Anyone got a spare $800K they could lend me or partner with me I have some money, but not enough to complete this idea for this property.
Hmmm Im still looking for my wallet….
The last block of land i was looking at buying was also part of a huge sub division… (ie the hard work was already done… i think the original parcel of land was around 1000 acres…
BUT! The Agent told me the conditions of the sub division was that power needed to be to the boundary fence at least (of all blocks), and all the blocks needed to be fully fenced… (some other large sub divisions also require phone lines b4 getting passed)
Which means maybe 1 km of power to pass, and many, many kilometres of fencing… which would cost a fortune! (the person selling the sub division bought the land many years ago, like the time when land couldnt be given away, and a farmer would never pay anopther person to fix fencing…)
Perhaps u should look into the conditions of a possible sub division b4 seriously considering a property because 800K would be nowhere near enough!
Just some things to think about….
Jason
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