monty replied to the topic Answers to “Where to Find CF+ Deals” in the forum Help Needed! 17 years, 5 months ago
I am in the process of developing a CF+ deal. It is going to take 18 months, but it is worth the effort. I purchased a subdividable corner block in a country town in SA ( strong local economy and high employment ). The subdivision has just been approved and in the mean time I have ordered a three bedroom transportable home from Allsteel Adelaide.…[Read more]
monty replied to the topic Total Newbie Question/Advice in the forum Help Needed! 17 years, 9 months ago
Hi A few basic thoughts
1. minimise Personal debt ASAP. Pay of the car loan and credit cards as a priority. If you can’t do this, think about how you will repay your loan on the property.
2. Property doubles in value every 7-10 years. The cycle has already started so you could expect 5-7 years for significant capital gain. If you can cope with…[Read more]monty replied to the topic Regional areas in the forum Help Needed! 17 years, 9 months ago
Hi
I invest in a small country town and have done pretty well over the last 3-4 years. A few things that I do
– have someone in the town you know – for me it is my mother
– look at emplyment rates. there are country towns that are booming ( yes mining as well) and there are towns that are going backwards big time.
– check occupancy rates. if…[Read more]monty replied to the topic Transportable House & Subdivision in the forum Value Adding 17 years, 10 months ago
Lisa I am in the process of doing the same in SA. A couple of thoughts
– time taken to do a subdivision is fairly long ( close on a year for me)
– be careful with service costs ( sewerage, power,water )
– extra costs after siging a contract eg changes to plan
– it is helpful to find an area with relatively cheap land ( corner blocks in some…[Read more]monty replied to the topic Property development in Tailem Bend Sth Australia in the forum General Property 17 years, 10 months ago
Interesting! I am just starting the same project in Bordertown. Bought land, subdividing and putting up 2 transportables. My aim is to sell, with rental as a 2nd option.
Why wouldn’t you sell and take the profit, giving yourself opportunities to continue investing?
all the best!
monty replied to the topic To buy or not to buy property in the forum The Treasure Chest 21 years, 11 months ago
G’day Dave
I have recently joined property investing and read your note about finding property. I have been looking for a couple of years in the wrong places! I too couldn’t find a suitable positively geared property. I have recently purchased in a country town (SA)near family, which has a high demand for rental properites for under $60 000. Rent…[Read more]