to me blocks of Land prices in some Regional areas are falling . I am thinking about purchasing a block of land , but then I'm thinking , water rates then Council rates and some of these Regional areas such as Moree the Council Rates are 2k a year !! Then ... if I have to get it mowed a couple of times a year then that's about $300 a year. My questions are do u think holding a block of land is worth it ? Can I use the block of land as equity ?????
It's how I started. I wasn't able to use the equity initially, but it helped showing a savings history for the mortgage insurer. It wasn't an investment. It was a lifestyle purchase. If your looking for something to invest in, there are a lot better vehicles out there.
Hey there Liar, I think yr right land without income is really hard to carry due to the costs going out .I reckon though once you build a good constant passive cashflow -then land can be good to hold for future development.I would limit it to only what you can afford to carry without it affecting yr income and expansion of yr portfolio. One way is to buy a house that cashflows and also has a subdividable block on it out the back
