Hobart TAS 7000

Phone enquiries - please quote property ID 31393.

If you are earning a regular income and have borrowing capacity you can retire in one year. In the 37cts tax bracket, double your income in one year @ $120,000 per year. In the 45cts tax bracket, we can retire you @ $180,000 per year.
Housing Affordability Tasmania Pty Ltd is a business providing affordable rental accommodation as well as Airbnb. We have recently decided that it is more profitable to invest as tenants in common in equal shares rather than a company.
We have 2 investments available @ $205,000 each
1. Geeveston Development
Unencumbered acreage block of 8094m2 to build 32 units ( 24 x 1 Bedroom + 8 x 2 Bedroom). This property has a council valuation of $170,000, is zoned Village and because of the 32 properties that can be built on it , we have estimated the value @ $15,000 per building or $480,000
We have to construct a road and infrastructure estimated to cost $120,000.
We will then build on the acreage block in 2 stages ( with some sub-stages)
Stage 1 will be 16 x 1-bedroom units , 3 x 2-bedroom units and 12 garages with a net income on borrowed money of $94,182 per partner.
Stage 2 will be 8 x 1 Bedroom and 5 x 2 Bedroom for a net return of $54,493 per partner
The total return of the partner $148,674 .
Income can be enhanced if some of the units are used for Airbnb.

St Marys
A property of 8094m2 with house, capable of being subdivided into 10 blocks.
Total initial development cost is $410,000 or $205,000 per partner as tenants in common in equal shares
My share of $205,000 has been contributed
The partner's share will be used to pay out an existing loan of $150,000 + $65,000 for the initial subdivision into 4 lots. We have a contract of $250,000 for lot 1 ( including house) and net proceeds of $240,000 will be distributed to the partners so that the total cash contribution is reduced to $85,000 per partner. Lot 2 is on the market for $135,000 and when sold helps to build on lot 3.
Lot 4 can be further subdivided into 7 lots at a cost of the sale of one of the lots.
So 3 lots to be sold and 7 retained at a net return of $34,588 per lot on 100% borrowed money. (Google : hat.house )

Income can be enhanced if used as Airbnb.

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