Nathan’s Car Cam – Box Hill Properties
We went driving through Box Hill the other day looking at some of the properties we’re building on behalf of our clients.
Last time we went out there, it was just a lot of land and dirt.
And we were excited to see there’s a lot of houses coming out of the ground now.
What’s going on in the market?
There’s been lots of negativity within the last 6 months in regards to property.
However, there’s an opportunity still out there in any market to make money.
What Nathan’s finding at the moment is, land is becoming more difficult for developers to sell.
Nathan’s in the process of negotiating some more blocks of land.
But what is also equally exciting is, that if they’re desperate to sell their land, we’ll be getting it at bigger discounts.
What kinds of properties are being built?
We’ve got a mixture of different types of properties that are being built in these estates.
One of the properties was a design that Nathan created himself, which is a dual house, a 4-bedroom and a 2-bedroom dwelling in there. A bit like a duplex but it’s just a dual block that we get via a certain coding.
There’s a mixture between some single story, double story, principle place residences and there are also some investment properties.
We never want to have an estate just full of investors. We want to help out with some first home buyers.
Can you still make money form buying land in 2018?
We just settled 68 blocks of land a few weeks ago at Zinger Finance, in another estate that we’ve got in south-western Sydney.
Given the current tight credit environment out there, the evaluation on a lot of the blocks of land came in at $330k and we picked them for $285k.
Even though the market has dealt a few blows out there, their evaluation is still coming in much higher.
We are still able to buy in to some of areas of Sydney for $600k, $650k and $700k. Whereas, going back 12 – 24 months ago, there wasn’t anything that you can purchase.
So, are the prices going to come down further? Are the prices going do what all these doom Sayers are saying out there in the media?
Nathan’s heard all this stuff beforehand, he’s looking at this as an opportunity to take advantage of the situation and buy cheap properties.