Hi, have been avidly reading message board for some time, first time messagee..
Am writing for advice,I cannot sell a block of land bought 18months ago in the west of melbourne. It’s part of a new estate with leisure complex etc. There is a glut of land available.
Need to access the money because am about to purchase the rental property I am currently residing in and will continue as my PPOR. Why not keep renting?…well it is a family member’s house and she wants to free up capital..
Why not rent elsewhere? I own a small dog and almost impossible to rent something habitable to a family in my area
We both own adjoining blocks of land in melbourne and also jointly own an investment property elsewhere.
She doesn’t really want to sell her house and I don’t really want to take on huge mortgage but we have racked our brains with no other option.
Question is … any ideas on how we can sell these blocks of land? Is there some avenue we haven’t thought of? Should we sell our investment property and access that money instead. It will only give us about $40000 profit total anyway.
Sorry for length of message. Thanks in advance if anybody has any ideas
stk[worried]
hello stk
Have you considered using equity in your current property to fund your invesrtment property?
I understand you are trying to sell the blocks of land but hey why not keep them if they are good long term investments and pull out some of your equity to fund your new investment.
Just another option you can use, i hope this helps in some way.
kind regards robbie velevski.
http://www.mountwealth.comAre you using an agent? Depending on the covenant (some developments prohibit you from selling), you can just go get a sign done up and whack it on there. People driving around will see it more so than advertising in Domain or local papers..etc.. Or you could put a cheap 4×2 on it then rent out so it won’t cost you so much in repayments. If you think you can’t fund the construction loan, speak to a broker on this site. Banks are throwing money at you these days. Good luck.
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