Hi Everyone,
I was thinking about buying 5 acres in north western Sydney and land banking.
The areas of interest are:
Ideally I don't want the investment to impact my standard of living (income), however I am unable to find a property where the rent from the household will offset the loan interest. In my situation I would have to borrow 80% @ 5% + other expenses.
What I would like to know is how I could make this property into a cash flow positive investment? What will the council let me build onto the property to achieve this?
A colleague from work suggested building one single building structure with multiple sheds and kitchenettes, then I could rent them out as small work sheds for local businesses...
What could I do to five acres to make cash?
Thanks
I was thinking about buying 5 acres in north western Sydney and land banking.
The areas of interest are:
- Riverstone
- Oakville
- Vineyard
- Marsden Park
- Schofields
- Shanes Park
Ideally I don't want the investment to impact my standard of living (income), however I am unable to find a property where the rent from the household will offset the loan interest. In my situation I would have to borrow 80% @ 5% + other expenses.
What I would like to know is how I could make this property into a cash flow positive investment? What will the council let me build onto the property to achieve this?
A colleague from work suggested building one single building structure with multiple sheds and kitchenettes, then I could rent them out as small work sheds for local businesses...
What could I do to five acres to make cash?
Thanks