Hello
have been offered a block of land adjacent to us by developer for 5% discount to valuation but can’t seem to make the numbers work.
Purchase price 232750 +stamp duty. Local real estates reckon they can on sell for 240-260 its a larger block (694sqmetres) for this development which range 350 -700sq metres.
Looked at build sell- couldn’t make a profit, flip block within six months( then have capital gains tax)over 12 months holding costs & rates become marginal. May be possible to get duplex permission as other duplex blocks in the estate.Any one else got another option?
All opinions welcome.
ThanksAsbestos Audits Queensland | Asbestos Audits Queensland
https://asbestosaudits.com.au/
Email Me | Phone MeAny asbestos questions ask me.
That’s a very small discount when looking at flipping, as purchasing and selling costs eat into most of the transaction, and whats left will be ravaged by tax.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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