Back in 2014 we purchased a piece of land in the Hunter Region of New South Wales, west of Newcastle for $161,500. The 455m2 block of land was part of a new subdivision in the Wallis Creek Estate in Gillieston Heights and was turned in to a display village carpark. It was leased as this for the entire 7 years that owned it and positively geared the whole time. 

Once each section within the estate was sold, the car park was ripped up and we completed a feasibility report on building a house on the site and discovered that we would actually make almost $150,000 less profit than selling the bare block as is.

We sold the block of land for $390,000 which was the highest per square meter price achieved in the estate, and a profit for Ryve of $175,000.
Our block was the last block sold in the estate and it created an opportunity for a another family to move into the estate and build their own dream home.

The entire process of buying, leasing and selling the land was completed remotely and we never actually viewed the property until after it was sold.