Block of Land

Viewing 6 posts - 1 through 6 (of 6 total)

Kellie
Member
@kellie
Join Date: 2003
Post Count: 13
June 17, 2003 - 3:49 pm
Another newbie question. I am purchasing a block of land 5% dep but settlement not due till titles released middle of November. Buying for capital growth which by November expected to be between 20 – 30%. Would like to unload the land when settlement is due but new to this. Would also like to know the CGT side of things if selling within 12 months. How does one go about advertising, documentation and arranging to sell this block on or after settlement. Might sound naive but would love some advice.
Kellieanne
lynne14
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@lynne14
Join Date: 2003
Post Count: 29
June 18, 2003 - 12:21 am
Hi Kellieanne, try looking at ‘land opportunity’ in the forum. it might answer your questions.
rgds Lynne
Kellie
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@kellie
Join Date: 2003
Post Count: 13
June 18, 2003 - 5:01 am
Thanks Lynne,
Had read that post previously and there seemed a lot of negativity (if there is such a word) on this idea. This land is just a quick turnover for me but can take the heat if it doesn’t sell. Am positive I will have keen interest when titles are due in November so have to work out how to sell it on or shortly after settlement. New to this so might sound naive. Thanks again.
Kellieanne
Administrator
Keymaster
@piadmin
Join Date: 2013
Post Count: 3,225
June 18, 2003 - 5:35 am
hi kellie,
this sounds very similar to the deal i was proposing in the ‘land opportunity’ thread (and i agree with your negativity remark, but any feedback is good feedback negative or positive i beleive)
i still think it is a good opportunity to build up some quick cash for other properties, i think i could end up being a bit late on my deal and miss the high capital gains, but go for it if your ready…
good luck
luke
NewInvestor
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@newinvestor
Join Date: 2003
Post Count: 18
June 18, 2003 - 5:37 am
Hi,
I am really curious as to which areas u r buying .
if u dont mind can u please let the surburb known.
shralper
Member
@shralper
Join Date: 2003
Post Count: 8
June 18, 2003 - 5:39 am
Kelli,
Search on assignment of contract or flipping. I hope to do the same thing soon (in SA). The CGT is calculated as for Income Tax as I understand it. I’ve also heard you will pay stamp duty for the transfer and so will the buyer. Not too sure on the details. What about reselling via the agent you bought it through? or private sale. Hopefully the capital growth will cover all expenses and you’ll be in front! Otherwise if you can cope with interest, waiting a while might get a better return. Good Luck.