I am currently looking at Tamworth to build a multiplex. Four x 3 bdrm at 18sq each. $640,000 complete and land 1675sqm costing 115,000 total purchase $755,000 covering landscape, carpet and concrete and council fees etc. Selling on todays martket for $250,000 each. Calculating CG of $245k Gross
Whilst I have bought six months ago a block of units (14) for $75,000 each yeild 10% in Wagga, valued 2 months after settlement $105,000ea investors now buying in the area units for 6% yeild.
Question:
Looking at various areas these deals aren't around any more so my question is why aren't investors on the forum group not looking at forcing captial gain by building in Regional areas where a 800sqm block is still only 45k to 58ks? Or is the building process too long and not worth the effort????????????
I have also bought 1488sqm block at calala 5 mins away from Tamworth for $75k..... Spoke to 2 valuers for bank and they have indicated that Tamworth still has another 20% increase left in the real estate market. Thoughts please on my ideas Thanks guys
Whilst I have bought six months ago a block of units (14) for $75,000 each yeild 10% in Wagga, valued 2 months after settlement $105,000ea investors now buying in the area units for 6% yeild.
Question:
Looking at various areas these deals aren't around any more so my question is why aren't investors on the forum group not looking at forcing captial gain by building in Regional areas where a 800sqm block is still only 45k to 58ks? Or is the building process too long and not worth the effort????????????
I have also bought 1488sqm block at calala 5 mins away from Tamworth for $75k..... Spoke to 2 valuers for bank and they have indicated that Tamworth still has another 20% increase left in the real estate market. Thoughts please on my ideas Thanks guys
