I am a new member and wanting to become an investor. Bought a beautiful 100 yr old home 3 yrs ago (not heritage listed due to renno's done previously) sitting on 2000 Sqm commercial land in rural town 10 mins from huge tourism town. Lived in house for a yr for FHOG and then had to get out due to unemployment so house is rented - hugely negative geared which has worked well so far. There have been a couple of sales in area of commercial properties ranging from $500k to $1m however all have been old buildings or apartments that will eventually need rebuilding and most on less land.The town has 3 seperate new housing estates selling h/land packages cheap and fast, Woolies has just expanded to a new built complex 3 times its size, Chinese invested millions into sugar mill expansion of ops - employment looking good, new nursing home being built, town has a hospital. Town has moratorium for next 30 yrs on new commercial zoning. I'm thinking of moving the house on stumps to another block of land to renno and sell and pay out loan, hoping this would make the land look more appealing to a developer and would probably wait until I could get $1.5 for land. Or if i could raise the finance maybe develope the land myself. Any ideas on strategies for this kind of investment.
Advice on commercial land with residential property
- Thread starter Mckaela
- Start date
