Hi Guys,
Hope you all had a good weekend!
In the weekend paper there was an advert from a developer for a large land estate saying they have eight lots to be sold by ballot. These lots can then be leased back to the developer – hence you will get income on the land.
Has anyone done this before? Eg, bought a block via a ballot – then leased it back to the developer?
Cheers
Wayne
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)NO, but my parents once bought a block thru ballot and then build their PPOR on it.
Judging by what you’ve said, it is a kind of lottery with a commercial lease bonus. Depending on the small print and you actually getting one, it looks like it could be a good business opportunity.
How long do they want to lease it?
What do they wnat to do with it?
What are your obligations?
How much are they going to pay?
Can you include any loan application fees, closing costs in the lease agreement (comm. lease = all outgoings to be paid by leasee)?
What’s the catch?Just some of the questions that popped into my head from what you’ve written. You probably had the same thoughts, and more, but it looks interesting as long as the numbers stack up! See what they offer before the horse bolts.
Bill is in the mail!
Cheers
C@34
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