New build and property investment strategies - which is best?
I told a story about one of my property mentors in Australia the other day. The short story is this…
Alec has been in property for ages. He specialises in industrial property and owns millions of it. He’s the type of guy who can tell you what an individual plot cost 20 years ago. Alec researches specific areas and in particular will look at unused or vacant plots that he may be able to offer the owner well below value and ’steal’ it. He will then get planning to put a large shed that will hold a number of smaller sheds. The great thing about this is that he pre-lets them before start the build program. He builds it simple - a tin shed with nothing inside and the people that lease the property will do what ever they need to. He taught me a great deal about making money from industrial property.
Funnily enough I was speaking with the same investor the following week and telling him another story - one about Peter and Jodie, a couple of my other mentors. There story goes like this…
Peter and Jodie make money from residential property. They buy low and sell high, and Jodie is a trained architect who loves adding value through renovating. Between the two of them they make a lot of money through renovating property. They are very good at researching areas and finding bargains. Again they always buy below value. They taught me a great deal about making money from residential renovation.
Anyway the investor asked me “Which strategy was best, Alec’s or Peter’s?”
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