Hi people.
Similar to another thread & question I posted - but a different situation now as that property got sold but a newy's turned up even better , $270k .
I can't finance it as s/employed but can easily manage it so I'm thinking about this angle .
The property is on Vic West Coast , won't mention the spot publicly b/c it might get snapped up but it's an unfinished house on 4 ac. The house is 30 squ , top shelf built to lock up & everything's supplied to finish & the property itself is 4 ac . Sits on a hill , over looking township , ocean , walk to cafe's , beach . It's a crazy situation , one off .
Well , the 4 ac rises at the back from behind where the house sits & at the top of the block it has even better views m would make a great separate block & zoning allows sub .
My thoughts , if someone financed the property for me , i'll put 10% down plus costs, they do me good rates & no refinancing pressure, in exchange they can have one ac from the top of the property . All they have to pay for is the subdivide itself later. That can be years later , down track , no pressure , whenever . They can just leave it until the next boom , a rainy day , a holiday house one day , whatever .
They'll have 1 ac at the top of the town overlooking everything , for costs only , probably valued around 250 separately on now prices - plus my financing , which I'd payout or refinance down track , 3-4 yrs , unless they wanted to leave it in place or whatever .
Losing that section makes no difference to me as I only want the bottom & house anyway & it makes no difference to the property value so it's neither here nor there if I get the rest.
The rest alone would value at 5-600 anyway once I finish it off so .
What do you think , would it work , could I find a taker - interested ? How would I go about finding someone , an ad or something somewhere, where ?
Thanks for any help
Cheers
Similar to another thread & question I posted - but a different situation now as that property got sold but a newy's turned up even better , $270k .
I can't finance it as s/employed but can easily manage it so I'm thinking about this angle .
The property is on Vic West Coast , won't mention the spot publicly b/c it might get snapped up but it's an unfinished house on 4 ac. The house is 30 squ , top shelf built to lock up & everything's supplied to finish & the property itself is 4 ac . Sits on a hill , over looking township , ocean , walk to cafe's , beach . It's a crazy situation , one off .
Well , the 4 ac rises at the back from behind where the house sits & at the top of the block it has even better views m would make a great separate block & zoning allows sub .
My thoughts , if someone financed the property for me , i'll put 10% down plus costs, they do me good rates & no refinancing pressure, in exchange they can have one ac from the top of the property . All they have to pay for is the subdivide itself later. That can be years later , down track , no pressure , whenever . They can just leave it until the next boom , a rainy day , a holiday house one day , whatever .
They'll have 1 ac at the top of the town overlooking everything , for costs only , probably valued around 250 separately on now prices - plus my financing , which I'd payout or refinance down track , 3-4 yrs , unless they wanted to leave it in place or whatever .
Losing that section makes no difference to me as I only want the bottom & house anyway & it makes no difference to the property value so it's neither here nor there if I get the rest.
The rest alone would value at 5-600 anyway once I finish it off so .
What do you think , would it work , could I find a taker - interested ? How would I go about finding someone , an ad or something somewhere, where ?
Thanks for any help
Cheers