I'm seeking some advice in relation to Dandenong:
I bought a couple of properties mid last year in Dandenong on advice from a friend of a friend - who said that if you've got some spare cash buy in Dandenong - so I did! Each of the properties are around 1200sqm in size - devmt sites. I got a call from the RE who sold the property to me saying that he has a buyer who is willing to put in a written unconditional (except as to seeing a section 32) offer with a 5% deposit on the properties. The offer would be around a 27% return in one year after taking into account the stamp duty I paid and any fees payable to the RE on the sale. This seems like a pretty good return to me. I guess what I'm asking is should I be selling now - is there something MAJOR happening in Dandenong I don't know about - (please note that I'm an interstater!). I've done a search on the internet and apart from the new freeway i'm not sure what else is happenign there. I don't know any developers who would buy a property unless they are getting a pretty good deal on it!
I bought a couple of properties mid last year in Dandenong on advice from a friend of a friend - who said that if you've got some spare cash buy in Dandenong - so I did! Each of the properties are around 1200sqm in size - devmt sites. I got a call from the RE who sold the property to me saying that he has a buyer who is willing to put in a written unconditional (except as to seeing a section 32) offer with a 5% deposit on the properties. The offer would be around a 27% return in one year after taking into account the stamp duty I paid and any fees payable to the RE on the sale. This seems like a pretty good return to me. I guess what I'm asking is should I be selling now - is there something MAJOR happening in Dandenong I don't know about - (please note that I'm an interstater!). I've done a search on the internet and apart from the new freeway i'm not sure what else is happenign there. I don't know any developers who would buy a property unless they are getting a pretty good deal on it!