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From: Anonymous


Hi

Can anyone help. I am about to purchase my 1st IP and am not sure how much to offer below listed price, the books all say at least 20%, what do you think? The area I am interested in is under redevelopment i.e. refurbishment of shppoing centre, railway station, sports facilities, movie theatres etc and is predicted to be a good growth area, homes selling well .

Your comments would be appreciated.

Regards

Joe
 
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Reply: 1
From: Jeremy Laws


If you want the property pay the price you have to. The price you pay within say (Sydney prices) 10-50k doesn't really make much difference. It all plays out in the end. You _try_ to get a good buy, but frankly if the property wasn't good you wouldn't be looking at it in the first place. Three questions:-
1) Can you justify the ballpark price?
2) Can you get the money?
3) Do you want it?

If yes these then you should have no problem wrestling with your conscience and buying.
 
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Reply: 1.1
From: Robert Forward


Joe

If you think that the properties in the area are going to get good gains in the near future how about thinking on a different level.

Negotiate your terms, ask for a longer settlement period. This is one of the easiest ways to gain from cap growth without having your money involved in the deal other then your initial deposit.

There are other ways but this is a good one to start with.

Cheers,
Robert

Get your Property Inspection Reports @
http://www.CreativeFinance.com.au
 
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