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I don’t pay any mailing or chq depositing or sundry fees. They get the standard % of rent and thats all.
Costs will depend on what it already nearby/in place to some extent. If you are remote from built up areas you may be looking at 25k-30k per block in costs to connect services etc. It may cost a little more per block with surveyors fees, building roads, installing streetlights etc
Also consider that with a development next door of a minimum 300 lots plus your 100 lots – is there enough demand to absorb this level of development?
Check the local council’s development plans too – they may deny your development based on their strategy, considering there is another development next door.
Hi there – be aware that Ravo is the original housing commission suburb in northern tas. You will be appealing to a very limited market of people and fairly or not has a nasty stigma attached to it. It can be a bit of a warzone (for Tassie) at times – very uncomfortable place to drive through and visit.
You would be better off looking at some more borderline areas like Mowbray or Invermay where some gentrification has started taking place but prices aren’t necessarily sky high.
Nope – Map or Mappers?
What about Dave?
How about wrap wraps and wrapping
Let’s try Vendor Finance
Nothing! Must only be certain words within posts that meets the criteria for links, and dodgy crap musn’t fit the bill.
Well isn’t that bizarre – some strange little marketing links pop up when I use certain words. Wonder what happens if I use dodgy crap in a post?
Do it in a company structure and pay 30%
I’d say the same thing that has happened in Tasmania over the past three years. Investor demand lifts soft prices to a new level, growth slows, yields fall. Early in investors sell-up starting anytime within the next 6 months to lock in profits and chase returns in other markets. Late comers pay higher prices for lower yields and have a little more difficulty off-loading down the track for the price they want which the market no longer reflects.
Geo – you are beyond naive to think that not listing on the ASX has anything to do with returning money to reps. This is a two bit company that has Total Worldwide Revenue (not profit) equivalent to 2% (that is two percent – no mistype) of Telstra which is almost entirely Australian based.
As I mentioned before they have stopped reporting subscriber numbers in some European areas and appear to be bleeding customers due to what current court cases against them term “misleading advertising”.
Surely this has become advertising to keep spruiking the Amway of phone comapnies.
I disagree about increasing rents. I think they have been stagnant for the best part of 5 years in Sydney. In places it seems as if they are going backwards to try to secure tenants. too many investors perhaps
check out this thread at somersoft – great read and may give you some ideas.
Can’t help you with the west coast sorry. Naturally prejudiced against it being from the north originally
Why not take another job for 2 months to make some more money to use for your own investments. If you are money poor why have a holiday – do something about improving your financial situation.
You have zero chance of anyone giving you money for a jv as you bring nothing but spare time to the deal.
Seems to be a common thing with smaller towns, and even larger ones such as in Tasmania. It’s hard doing something different to the norm. I think marketing outside the area is a good idea though.
Good luck with it.
So kp – tell me what your definition of a remote town would be then. Dubbo, Bathurst, Horsham Townsville, Mackay, Launceston, Devonport etc don’t qualify for me. Broken Hill does. BTW ALvin mentioned OUTBACK towns not REMOTE. Your average Outback town doesn’t have large populations.
If you are excited by an 8.5% yield in the boondocks I’m happy for you.
I’d suggest that taking a leaf out of Steve’s book is not something I would do. I have enjoyed aspects of his books and particularly the journey in number 1, but his methods don’t interest me.
kp – I have seen hundreds of people come here and post “Where are all the CF+ properties?” and they get a variety of answers – usually bland platitudes such as you used “Best deals made etc etc”, or go to Tassie, or go to NZ, or go bush.
My point (which was a long time coming I guess) is that too many people are snapping up property with eyes wide shut, buying out of fear rather than logic and they need to get a bit of realism rather than enigmatic responses.
Don’t try and put your own meaning into my words Calvin and kp.
Alvin is looking to make his money where the big money has already been made.
If you choose to live or invest in remote towns of a few hundred people that’s your choice. It makes no sense whatsoever to invest for the future in a remote area.
Look to Richmond’s comments for some better advice on direction.
You seem to be doing this arse about face. Surely you should have these questions figured out PRIOR to investing. Do you have a plan/set of goals, an exit strategy?
I would advise you to learn more before you purchase again, no matter where – you have taken action before thinking about all the factors which is folly.
Having said that – your $3500 will probably add to the cost base when you sell as it may be termed capital works
If the buildings are old a QS may not add any great value as there is little to depreciate – go to the ATO website and check out depreciation schedules.
Repair as required. Renovate to add value if you are selling or wish to withdraw equity.
