Some advice will be greatly appreciated
I have come through the courts with $100,000
My thoughts are to buy a block of land in Croydon and put a simple Pioneer/Devine home on it hold for 12 months and sell
This will be my principal place of residence so no CGT
I would look to repeat the process again
Land value -$110,000.00
Aqusition costs -$3,300.00
House Deal -$129,000.00
Relocations -$1,100.00
-$243,400.00
I will rent during construction say $10,000
Disposal costs on sale should see me with $25,000 that I would not be able to accumalate otherwise
I would consider using $70,000 as a deposit on the land and keep some reserves
Are there any basic floors or advice you would offer
Thanks in anticipation
Fredo
I have come through the courts with $100,000
My thoughts are to buy a block of land in Croydon and put a simple Pioneer/Devine home on it hold for 12 months and sell
This will be my principal place of residence so no CGT
I would look to repeat the process again
Land value -$110,000.00
Aqusition costs -$3,300.00
House Deal -$129,000.00
Relocations -$1,100.00
-$243,400.00
I will rent during construction say $10,000
Disposal costs on sale should see me with $25,000 that I would not be able to accumalate otherwise
I would consider using $70,000 as a deposit on the land and keep some reserves
Are there any basic floors or advice you would offer
Thanks in anticipation
Fredo