What to do in 2009

[GT3]

Hi,
Well its a new year and a time to decide on what direction to take the IP portfolio.
I am undecided on whether to keep accumulating properties (with mainly land value), or to start developing one of my existing properties.
I have a property in Hollywell (gold coast) and am undecided on whether to turn it into a duplex to sell off later or to buy another with similar land size to develop later.
Do you guys / gals think this market is a good time to pick up some bargain properties or a good time to start developing. Even though a downturn is generally a buyers market it can also be a time for saving with building costs

Any ideas, opinions would be greatly appreciated

 

[boomtown]

I get the impression there is alot of distressed stock on the Gold Coast. I would hestitate to build there right now with the intention of selling.

If it was a build and hold and you are confident of the rental prospects then yes - but thats a different analysis.

 

[craigb]

i agree boom but if it takes as long for the DA,s BA,s and what the FA,s it might be ready in mid to late 2010 the world might be a better place,by then ???