Ridley Road Bridgeman Downs is a road in which there is a great deal of development going on. You could see that land was going to come under pressure and it was that factor that led us to source 2 well-priced blocks of land.
The land cost here was $280,000 and is now valued at $440,000 2 years later. It follows the simple formula for success when building an investment property. Don’t think now, think 5 years ahead.
The total package cost was $520,000 with a good-sized 4 bedrooms 2 bathroom home. I built 2 of these and one has just sold for $615,000, which is not a bad profit for only 2 years.