Hi just seeking some advice,
I own a block of land that has no covenants on it.
I can easily build 2 units then sell and hopefully make a profit or could just sell the land now for a profit, having bought the land so cheap it has already gone up about 30k. To build the units means debt and then the pain of selling, however there is greater profit to be made.Could anyone give me some advice on this matter please???
Hi
What is your real profit after purchase costs, selling costs and taxes have been taken out.
If you are still ahead and you really need the money then go ahead and sell.
Sailesh Channan
http://www.developersedge.com.au
“Helping you select,develop and profit from property”
thanks sailesh,
Just wondering do you mean profit from just the land or the buildings??
thanksLLLOCCO
It really all depends on what you want.
Do you want the cash now? Or do you want to develop the property, and take (possibly) a greater profit later?
What homework (financial plan) have you done on this development? What are the possibilities? What are the probabilities?
Do a plan and work out costs and sort out what will work from what will not.
Then make your decision and go for it!
But it really all comes down to what you want – are you on the path of least resistance to your goals?
Learn, Love, Strive. Make a difference!
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