Buying land and building houses amongst Friends

Thanks I will check it out, although it appears that our plans are not be feasible.

 

Thanks a lot for the details. It helps.The stores like those of your twins are certainly inspiration to us.
14% per annum is too much.We thought 6-8%.
Our main goal is to live near as possible as we get along well and meet often.At the same time Sydney's north west is all small blocks with no trees and is not pleasing.

As an alternative, Do you think we 12 of us, setup trust /company and buy some 2 hectare land as investment near somewhere in emerging areas like near Badgery's creek and once rezoning happens( maybe after 3-4 years),contract a developer and have our houses done.
We think this is the best time to grab bargains and dont want to miss out.

 

I'm concerned that your timing is much too short. If you are looking for less than 6-10 years, then you may find that property values have not moved enough to cover your initial purchase expenses and set up costs. Whilst many will say this is a good time to buy, there is never a guarantee that prices won’t be lower in three years.
I have rarely found myself looking to buy for this very short term. Rezoning happens over much longer periods and lives change Over 10 years meaning people want access to their money.
I would perhaps look at managed investment funds on the stock market that invest in real estate. These have seen large gains and small drops relative to the corona virus troubles. There are a few columns in property chat devoted to buying these. Alternatively if you wish to be active investors, I suggest taking a different path.
Set up a company and use your man power and a 5 year scheme to renovate homes.
We’re retired from real work, but have been bored as We can’t travel or race with COVID around. We will be at this auction tonight 18 Scarvell Avenue, McGraths Hill, NSW 2756
https://www.realestate.com.au/property-house-nsw-mcgraths+hill-133755426
If we buy this, it will be our third COVID investment, where we take a dilapidated property and restore it (we employ trades) and then rent it out. when you have used all you deposits and cash flow loans wait for the market to rise and you should have substantially more than you put into the property. This can be quite fun and profitable. Many migrants in the 50s and 60s amassed their fortunes this way. Some nationalities are still running their businesses like this in 2020.