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Land Banking
A small idea on how to
Land Banking, as I have experienced it vicariously through the actions of a friend and on a small scale, appears to be quite worthwhile.
My friend, the land banker, works in the medical profession, and when she arrived back to NSW fresh from her experiences of living in a quite beautiful spot in Queensland where she, in partnership, owned some land albeit no house.
The land is on gorgeous acreage located right next to a river and situated quite near a thriving township. Bought cheaply back then, but if you wished to buy it now, well, you might have to sell your firstborn!
Her story goes that when she returned from Queensland to her initial place of residence, she borrowed on her acreage to buy a house in a country town some miles from where she was working.
The beauty of her chosen residential town is that it is located quite close to a larger town, which is about an hour’s drive from a major Australian city. So in effect, she now has in partnership, two properties.
When I asked her how she found her properties; she said that what she looked for was a smaller village that was within driving distance of a city, where people in the future could commute easily to work, while they enjoy the more fruitful aspects of country life.