I am about to start building two houses in Raymond Terrace NSW. They are in the Riverview Ridge Estate which is regarded as a more desirable part of Raymond Terrace.
This is a town about 20 -30 min from Newcastle which services a major defence base. It is under the Port Stephens Council although is a short drive inland from the coast.
These will be high quality 2 storey 4 bedroom homes with all the good gear such as aircon, dishwashers, remote garages etc.
They will market for about $280 - 90K on completion - at todays prices. Rent will be approx $290pw. Capital growth here has been solid.
I spoken to the Defence Housing Authority (DHA) who are keen to lease them for market rent on a 6+1 year lease. Search this forum for DHA to get all the pros and cons of their systems. I think it suits some investors and not others.
I am seeking investors to purchase these homes. Ideally I would prefer to sell one soon with the purchaser taking over the finance for the building costs - I will have put it through council and will supervise the building. In this case I will leave a very substantial amount of profit in the deal.
I have yet to determine a price and am now seeking expressions of interest from anyone interested.
As always I would welcome any advice or constructive criticism
Cheers,
This is a town about 20 -30 min from Newcastle which services a major defence base. It is under the Port Stephens Council although is a short drive inland from the coast.
These will be high quality 2 storey 4 bedroom homes with all the good gear such as aircon, dishwashers, remote garages etc.
They will market for about $280 - 90K on completion - at todays prices. Rent will be approx $290pw. Capital growth here has been solid.
I spoken to the Defence Housing Authority (DHA) who are keen to lease them for market rent on a 6+1 year lease. Search this forum for DHA to get all the pros and cons of their systems. I think it suits some investors and not others.
I am seeking investors to purchase these homes. Ideally I would prefer to sell one soon with the purchaser taking over the finance for the building costs - I will have put it through council and will supervise the building. In this case I will leave a very substantial amount of profit in the deal.
I have yet to determine a price and am now seeking expressions of interest from anyone interested.
As always I would welcome any advice or constructive criticism
Cheers,