New Age Property replied to the topic Figures Don’t Add up in the forum Creative Investing 11 years ago
After further thoughr Xdrew, I am wondering how to achieve the $1M value for this land that you mentioned.
I've since discovered this comparable property:
http://www.realestate.com.au/property-residential+land-sa-willaston-200671327
6000sq m that brought $320K – around $50 / sq m.
I just emailed the owners that a more realistic price for the…[Read more]New Age Property replied to the topic Figures Don’t Add up in the forum Creative Investing 11 years ago
Thanks for your thoughts xdrew.
I'm giving up on the retirement village idea and going back to the drawing board and spreadsheet.
As a result of your feedback I can see that my romantic intention to help prevent the elderly from being exploited by ruthless profiteers will not be applicable to this site at the sellers' asking price.
So now I'm…[Read more]New Age Property started the topic Figures Don't Add up in the forum Creative Investing 11 years ago
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I'm racking my brain, trying to come up with an attractive price to offer a couple who own 4000 sq m of land on a main road in a fast-growing outer northern suburb of Adelaide.
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An existing house on the land is worth around $275K.
The average price of vacant land in the area is $275 per sq m,…[Read more]New Age Property started the topic Figures Don't Add up in the forum Creative Investing 11 years ago
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I'm racking my brain, trying to come up with an attractive price to offer a couple who own 4000 sq m of land on a main road in a fast-growing outer northern suburb of Adelaide.
An existing house on the land is worth around $275K.
The average price of vacant land in the area is $275 per sq m, for lots of around 500 sq…[Read more]New Age Property replied to the topic Building on Land that is under Option in the forum Creative Investing 11 years ago
Great.
Thanks guys.New Age Property replied to the topic Avoiding Obnoxious Stamp Duty – But at What Cost? in the forum Creative Investing 11 years ago
Terryw wrote:
There certainly is a risk.Speak to a lawyer about priority of interests in land. .
Terry, you've put me straight.
I'll forget about my devious plan and just plan on paying the obnoxious stamp duty. I think in the long run it will be less stressful than trying to scheme around it.
Thanks for your sound advice.New Age Property replied to the topic Avoiding Obnoxious Stamp Duty – But at What Cost? in the forum Creative Investing 11 years ago
Catalyst:
Actually I misled you about the size of the land. It's 7000 sq m, not 2000. Sorry.
And it's vacant, so there's no issue with the owner renting somewhere else.
The value of the land is difficult to gauge. I first thought it was a good deal, but recently I discovered that Hickinbotham is offering a house and land package on 500 sq m…[Read more]New Age Property replied to the topic Outrageous Clause in Option Contract? in the forum Creative Investing 11 years ago
I subsequently heard Rolton in an interview, justify the refund ability clause by saying (words to this effect) why should I be penalised for trying to add value [through gaining a development approval] to the seller's property? He also claimed to have never had a a development application refused in his 11 or 12 years of operating in this…
New Age Property replied to the topic Outrageous Clause in Option Contract? in the forum Creative Investing 11 years ago
Hmm, can't imagine Rolton sending his boys round to wield disproportionate influence.
The clause completely removes any risk from the option taker.
What I meant to ask was how common it is for this clause to be included in option contracts?New Age Property replied to the topic Property Options in the forum Creative Investing 11 years ago
Thanks Richard, I'll up on that idea.
New Age Property replied to the topic massland in the forum Help Needed! 11 years ago
New Age Property
Online
(Posts: 2)I'm not a Massland graduate, but I do have a JV contract that I could let you have for $27.
It's quite comprehensive and runs to 26 pages.
I can send you a table of contents if you like.New Age Property replied to the topic Property Options in the forum Creative Investing 11 years ago
On a side note to this thread, Richard, how do you find people who are willing to enter option deals with you?
New Age Property replied to the topic Retiring strategy in the forum General Property 11 years ago
Sell a few so that you can pay off any outstanding debt and live off the rents.
