Hobart TAS
Asking Price $200,000
Phone enquiries - please quote property ID 31393.

If you are earning a regular income and have borrowing capacity we can retire you in one year. In the  37cts tax bracket, we can retire you in one year @ $120,000 per year or double your income. 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

The investment is for 51 shares in the company for a 51/49 shareholding and becoming a director of the company.
Our properties front a public council road that is unformed. The estimated cost to form a road and complete the infrastructure is $300,000. We have $108,000  in the bank so we are asking for a cash contribution of 200,000.
The company owns:
$108,000 in cash towards the construction of the road.
$480,000 for Lot 5. 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
Total value $588,000 or $299,880 (say $300,000) for 51%
My partner who owns 6 adjacent blocks still wants to see the road built and has agreed to sell 3 of his blocks to the new partner for $57,000 each (total of $171,000) on Vendor Finance.
Once the road is constructed, 2 blocks will be sold @ $135,000 each, Vendor Finance will be paid out and the new partner will own the 3rd and can build on it for a net return of  $33,670 on borrowed money.
We will then build on the acreage block in 2 stages ( with some sub-stages)
Stage 1 will be 16 1-bedroom units , 3 x 2-bedroom units and 12 garages with a net income on borrowed money of $94,182 for the partner
Stage 2 will be for 8 x 1 Bedroom and 5 x 2 Bedroom for a net return of $54,493  for the partner
The total return of the partner $182,345 + $26,000 in cash
Income can be enhanced if some of the units will be used for Airbnb

*  We have plenty of equity but lack proven income. Apart from the cash injection, It will require a loan to construct the buildings, so we are looking for a director with good borrowing capacity. A couple with a good income would also be suitable.

Please see further information on Google: hat. house

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Ref Num: 31393
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