Hi all
I have a number of blocks of land in a large (100,000+) regional town that I have been trying to sell. I have had them listed with a RE Agent but despite me dropping and dropping the prices (I am now at the point where I am making a loss) I am just not able to shift these blocks.
The blocks of land are about the cheapest in the town and, with the rental shortage, a house built on the blocks would be just about neutrally geared. The Agent has dissuaded us from targeting property investors to date, suggesting that we would get a better response by targeting first home buyers. Obviously the first home buyers aren't interested.
What I am after is some creative suggestions for selling these blocks myself. Is it worth putting an ad in the newspaper of the nearest capital city or even the Australian? Has anyone done this with any success? Are there any "catch phrases" you would recommend to attract people to an ad?
I am starting to go grey and I am losing my hair. Any suggestions would be greatly appreciated.
Cheers
K
Hi I would try either trying to sell them as a house and land ,find a cheap builder shouldnt be hard in a town of that size, I would market to first home buyers on a rent to buy basis ( they pay more than the normal rent until they have small deposit up check internet sites on how others market this type of offer.
the other thing I would do is market in the mjor papers to investers as house and land, emphasizing high rent return estimate and after tax deductions etc should be cost neutral. also check internet reseach for development or infrastructure projects in area and population growth as this is what investers love to hear when buying
good luck
theresaLinar you could possibly do a vendor finance set up to help encourage people, but some times this could be more trouble then it's worth for different situations.
Hi K,
If they are in QLD, i could package them up with a few builders and target both investors and first home buyers. I am based in Brissie, but work all over QLD. Let me know if i can you out.
Hi Eli
They are in Ballarat in Victoria. Thanks anyway though.
Cheers
K
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