That appears to be the way it works, from their site the developments have not been approved yet and if it is it's about 3 years away.why would anyone sell at half price? unless they were using your money... in which case you aren't buying a block at half price, you are a developer with all the risk associated
The price you paid does not seem too demanding. Well done! A rare bargain in Perth's overheated market.
Do you know who's behind it KentAssuming no debt funding, duties @ $100K, the IRR is around 12.5% - higher if the project is finished earlier than 5 years. A little on the lower side for the the risk associated with land subdivision. Mind you, this investor isn't doing anything for the money.
If I'm providing funding for someone up to 5 years I would want to do a lot of DD on who's behind it and the previous projects.
safest investment is a govt backed bank account. Development is never "safe" so I think you are barking up the wrong tree if that's what you are after - but have a flutter by all means. fortune favours the brave and all that.hi All looking for some more details is it safe investment ?
and also do u have more details who develop this ...
is any developer discount deal coming on somewhere in perth...
safest investment is a govt backed bank account. Development is never "safe" so I think you are barking up the wrong tree if that's what you are after - but have a flutter by all means. fortune favours the brave and all that.
I was lookin through some of the previous sales figures for properties with auction results this last weekend in Sydney:If you want to double your money in five years, buy an ip in sydney.
If you want to double your money in five years, buy an ip in sydney.
IMHO you'll do a lot better than that in the next five years. with a lot less risk
That an alternative . Obviously if you want that block of land , then it's a different matter ..
From all the questions you are asking you are probably not the right kind of person to be buying into this one. It certainly is high risk.I just want to know is anyone already inquire about this developer and its ok to investment...
Do i hire property solicitor to check property before buy ?
If yes who is good property solicitor in perth ....