Way's to create income on a abandon lot

So I recently purchased a very run down house in Sunnybank Hills, QLD. The plan is to split the lot into two and sell off both lots.

Any idea of what to do whilst awaiting for the DA? Preferably a idea that can generate some income. The house is very run down and a hazard to live in. so only able to use the yards.

My only idea is to plant some tomatoes or fruits and sell them off.
 
You will need a DA to run a business as well on the lot.

Did you factor in holding costs in your DD when you bought the house knowing you couldn't generate rental income?

pinkboy
 
Yay, a farm? Tomato, potato, onions.... Some chicken, may be a few cows as well? Just kidding.

If you are making money subdividing, why bother growing crops? Unless it is something you enjoy of course. But you may get better returns by investing your time and effort elsewhere.
 
Concentrate on the task that you already do that generates your income.

Mucking around with searching for and conducting that activity will simply suck all of your time for no net benefit.

If you paid yourself a measly sum of say $ 20 per hour to get it up and running and maintain whatever you thought of, it would be going backwards big time.

Sounds like if you concentrate on hustling up the DA asap the holding costs will be minimised and that will generate your biggest value for money by lowering your holding costs.
 
Thanks guys for the input.

I did factor in the holding cost whilst doing the DA.
The reason I ask is that my partner is currently in between jobs and figure she's got some spare time.

Anyhow, A quick search on tomato planting or any vegetables seem a little hard :(
 
So I recently purchased a very run down house in Sunnybank Hills, QLD. The plan is to split the lot into two and sell off both lots.

Any idea of what to do whilst awaiting for the DA? Preferably a idea that can generate some income. The house is very run down and a hazard to live in. so only able to use the yards.

My only idea is to plant some tomatoes or fruits and sell them off.

Is it definitely a hazard or just your perception? You'd be suprised what people will live in.

Ideas:
- check gumtree WANTED section and see if there are any posts for people looking to park a caravan, truck, shed space, boat etc for awhile. Caravan people might want to live there for awhile and use power from the house.
 
Maybe try to sell the house for removal (if suitable). Again, if suitable, consider selling the house for parts - ie windows, cedar doors, etc if they are speciality items - to a recycler.
 
My only idea is to plant some tomatoes or fruits and sell them off.
I don't think that will not even cover the water --rates,you can try and sell the house-house removal companies will give you zero,or level the place in a day clean the site and just let it sit till the next stage the holding costs may be high for that area..
 
:mad:
Can you give any other good idears:confused:

This won't get you thrown in gaol:

Park a caravan on there, grab a portaloo and solar shower, and rent it nightly on airbnb/stayz/gumtree.

The suggestions of advertising are good ones, especially if it has a bit of exposure to traffic.
 
Is it definitely a hazard or just your perception? You'd be suprised what people will live in.

Ideas:
- check gumtree WANTED section and see if there are any posts for people looking to park a caravan, truck, shed space, boat etc for awhile. Caravan people might want to live there for awhile and use power from the house.

Will concur with this. My development site in Melb is an absolute disaster, I would not let my dog live there.
Currently renting for $290 per week in first week of advertising, signed up for 6 months while going through process of DA.

My pm has a list of immigrants from India who jump on these, cheap accommodation.
 
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