Is that a deal you've done OO.?
gee tell us more O_O
i am intrigued
It is a deal I made TC. Signed sealed and delivered, I now have ownership of titles...outright!
Basically it is as Nathan's threads/deals have suggested. They are out there, maybe not for everyone, and that is okay too...
I probably have a very intense knowledge of people/things going down in a few selected regional areas (within Victoria), which can be an advantage.
I picked us up a power of cheap land to do on going constructions with over the next few years. Possibly units and houses. One (construction), is almost completed now..
The 8 blocks were just something that a guy wanted to get rid of, he didn't perceive it as of use, he was sick of paying rates on it, I made a couple of offers. He accepted the second offer. I had just come back from an auction of similar land which went for high teens, 18k I think...I never madea bid, (had called in to pick up my mum and stepdad -took along for the ride and entertainment), and coming home to drop them off, noticed the newly erected for sale on the blocks...they are around the over 800sqm size, so I guess that is ? $62 a block??
The place is (and has had historically) strong economic resilience diverse/progressive business(es), it has a long time shortage of rental properties, (premium rental prices), and houses to buy just as PPOR. The property that is there has doubled the last 7 to 10 years.
The blocks have been selling (IF) they come onto the market for 15 to 20k plus, but been out of town centre area, not as well located as these.
I literally was in the right place at right time..BUT I seem to do that a fair bit. They are not my only good buying (FOR ME), my mortgage broker suggested I buy over an 8% return, but "buy well" ....I have tried to do that and it means my buying well follows I get to keep shopping and building and accumulating to build a bigger bank of equity/assets to then get and play with other income producing assets. In the meantime they give us good returns, I cannot get over the simplicity of this game.
It's all fun.
8 blocks, subdivided up, kerbed and ready to build, close to school, sporting /entertainment facility, tennis courts/golf course, down from hospital, medical/ancillary health rooms, not far from shopping precinct, etc....good, clean, flat, clear blocks...
