I have a cnr block site with an old 50's brick veneer where the renters have happily paid to live for the last 6 years. I've just removed a large tree in the backyard and am thinking its time to look at building. Not really interested in whole process at this stage, but am wondering has anyone had much joy with getting the plans through and then sellling with approvals, perhaps with a long settlement and vendor financing?
Of course Ill need to do due diligence on land values to ensure I make a quid.
Long settlements in the past have been very kind to me as long as you load up the purchase price, effectively having a punt that the purchaser will get the build up, will not fall over and the market will go a certain direction. Most risks can be minimized with deposit, purchase price and settlement time and of course if the builder does fall over mid way through and hasn't settle, you still own the block and keep the deposit.
Of course Ill need to do due diligence on land values to ensure I make a quid.
Long settlements in the past have been very kind to me as long as you load up the purchase price, effectively having a punt that the purchaser will get the build up, will not fall over and the market will go a certain direction. Most risks can be minimized with deposit, purchase price and settlement time and of course if the builder does fall over mid way through and hasn't settle, you still own the block and keep the deposit.
