I remember seeing another one of these types of websites a couple of years ago.
At the time, I was doing some research on Katherine in the N.T. They had good rent returns, and there was the proposal for a new h'way from Alice to Darwin, which would bring Katherine into the limelight to a degree; maybe some cap growth to go with the rent returns.
I was trying to contact some of the local agents to find out info such as rental demand, vacancy percentages, demographics etc, etc.
I saw this house for sale, and emailed the agent about it. Never heard back after 3 attempts and thought it was strange.
I found out from another source that the town had a large Aboriginal population, and they had been causing large disruptions to the community, the rental scene (vandalism and non-payment of rent), basically cuasing a climate not attractive for investors. Don't attack me for that statement all the race do-gooders; I am only repeating what was said to me.
So I then gave the whole place a miss after no success with the agent, and also finding that there were no local agents as such. Not good.
So, back to this website; about 3 months later, I saw this site, and here was this same house for sale, for $10k more than I saw it advertised for, claiming it was cashflow positive.
That's the danger with these sites I believe; they are relying on the buyer not doing any, or little due diligence. They expect to be able to sit back, do no work and fork out a couple of grand or five, for the privelidge of letting someone find them a great investment. But then get ripped off.
