I bought a block of land in a very small beach town in FNQ as an investment for the future. I then 6 months later had a brainwave to perhaps buid a house on it an either sell it or rent it out. However the real estate agent in this town advises me there is a good demand for 3 to 4 bedroom homes for rental in this town but rental only fetches $150 to $180 per week. As I consider myself a novice at this game i am now inclined not ot build. Any suggestions or ideas?
Do more research on the rental demand in the area. Speak to the local council about what is comming up locally in case there will be increased work opportunities to give you clues on potential demand.
Look at different houseing options to meet that demand.
Make sure you are getting a good enough return before starting.
I do’nt know the lie of the land in FNQ but do your sums and build a 3×2 or 4×2 either rent it out or sell it,I would sell.
But that’s what I do.http://www.owner.com.au/phototour/listing_phototour.cfm?listingid=21772
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