W
WebBoard
Guest
From: Mike .
Buying Wholesale???
From: Darren
Date: 30 Oct 2000
Time: 11:48:34
Hi all,
There is always a lot of talk on this site about buying wholesale or below FMV. But how??? Unless your looking in the less desireable areas competition is fierce and bargains hard to find. At least that's what I've found here in Melbourne. Most properties within the desirable 7km's of the city go to auction and either the price skyrockets or the property is passed in. I think that most vendors here in Melbourne only want to sell if they think that they can get a fortune for it and will quite happily let it pass in if they don't.
Anyway, I suppose the idea is not to whinge about what you can't change and think of alternatives. Hence my next question. Has anyone on the forum had experience with buying land with the intention of building units on it? It seems to me that this would be one way of getting property at wholesale and hence be positively geared from day 1. Only one problem, where to start? Does anyone know where I can get some information on these types of projects? Are there Australian books or web sites that deal with the topic of multi unit developments? Any advice or experiences with this sort of project is greatly appreciated.
Thanks, Darren
Buying Wholesale???
From: Darren
Date: 30 Oct 2000
Time: 11:48:34
Hi all,
There is always a lot of talk on this site about buying wholesale or below FMV. But how??? Unless your looking in the less desireable areas competition is fierce and bargains hard to find. At least that's what I've found here in Melbourne. Most properties within the desirable 7km's of the city go to auction and either the price skyrockets or the property is passed in. I think that most vendors here in Melbourne only want to sell if they think that they can get a fortune for it and will quite happily let it pass in if they don't.
Anyway, I suppose the idea is not to whinge about what you can't change and think of alternatives. Hence my next question. Has anyone on the forum had experience with buying land with the intention of building units on it? It seems to me that this would be one way of getting property at wholesale and hence be positively geared from day 1. Only one problem, where to start? Does anyone know where I can get some information on these types of projects? Are there Australian books or web sites that deal with the topic of multi unit developments? Any advice or experiences with this sort of project is greatly appreciated.
Thanks, Darren
Last edited by a moderator: