Hi
I have over $220 equity in my old ladies property, and now about $60k equity in my own property
I am thinking about options to invest with, and would welcome input. So far are ideas I have come up with, so please input your comments:-
1) Subdivide, and build two houses on the front and back, leaving the middle house which will just be renovated not demolished
-Use builders ticket from friend, and have him work on two houses and coordinate subbies. Expecting to save decent money
-Once they are built rent both houses out to cover cost of building interest as much as possible2) Build two dwellings front and back as attachments to existing house
-possibly get around approval for individual premises to be built. build these 2 cheaply but nicely, so as to rent out to cover cost of building
-at right time simply subdivide and ‘sell off’3) sell of front and back blocks off mums property, then reinvest
4) Combine equity to buy triplex blocks, sell of back lot, front lot then middle house for quick turnaround profit
5) Use equity to build up positive cashflow properties
Cheers
Peter
What the mainstream media don’t cover
http://www.prisonplanet.tvYour old ladie is this your mum. If so does she fully understand what you will be doing with her equity.If she is benifiting from it as well and understands the risks then fair enough. But if this is your mother and you are putting her at risk of her losing her property if things go wrong. Then please dont do it , I have seen to many parents lose a lot risking the propertys for there children, we as children owe our parents a lot more than risking there property or nest egg.
I so much would love to involve my parents in investing inproperty because of the sucess I have had, but if something went wrong I couldnt live with myself. I dont need there equity just would like to show them what they could do with there equity but once again they are nearing retiement and if something went wrong and they lost there home , i would be devistated.Just my 2 bob
Monopoly, my favourite game
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