My brother & I inherited, Mum's house when she died, which is currently rented out. No Mortgage. ~5% return.
Spotted a development opportunity, for someone, a few days ago as I was cycling home from my brother's. 2350m2 (up to 5 sections) & 8 to 10 times as big as my equity. 5 minutes walk to edge of a big university (Canterbury).
Wondering where to go to from here!
What do you want to do with it? Flip it, develop it?
Thanks for your interest Dean,
Ideally develop it. Realistically bring it to the attention ("wholesale") of someone with the resources and experience to do something with it. Hopefully with a buy in with my equity.
To develop the the whole lot I am estimating that the project would need ~$5m NZD ($3.6m USD) the land itself would be ~$1.4m NZD ($1m USD)
Property 39b has been sold since my original post. I don't know what there plans are.