Land Banking

[iookpa]

Any updates here?

Does anyone know the address of the land?

 

[Rixter]

Any updates here?

Does anyone know the address of the land?

We're doing some landbanking located in Perth Metro area inside our SMSF if thats of any interest to you? http://www.southbankestate.com.au/

 

[geoffw]

Google satellite view of Anstead shows no developed land next to the river. I don't know how old that is.

I'm not sure of Peter's statement from 2005 about doubling every 10 years, as I don't know the Brisbane market at all, let alone Anstead.

Edit: reading the thread it had done ok by 2009.

 

[redwing]

Have they on-sold the land?

 

[iookpa]

Reading through the various Freeman Fox property financial reports, it seems some of the development sites were sold. Not sure if this was included.

 

[iookpa]

http://www.johnstondixon.com/display.asp?propertycode=398h
http://www.realestate.com.au/property-residential+land-qld-anstead-2732947
http://www.realestate.com.au/property-residential+land-qld-anstead-2807373

Total Sales = $5.70m

Total Costs = $6.34m
Purchase price $4.67m
Stamp duty $233k
Rates $88k
Interest $885k
Land tax $412k
Selling fees $57k

Loss = $640,000

 

[redwing]

I figure if we can’t make money out of this we should all pack up and take our bat and ball and go home.

Comments, questions, counter points?

Hi ioopka (say that out loud and get a strange look or 2)

Is it the same land discussed by Peter?

How are the Navra and McKnight property funds faring?

 

[iookpa]

Is it the same land discussed by Peter?

Yes

How are the Navra and McKnight property funds faring?

Not sure. I think I read somewhere Navra wasn't going too well.

Most (not all - I'm sure there's some good ones out there....somewhere!) of the seminar presenters turn out to be sharks unfortunately.