I found what I thought was a 2brm ground floor unit in a block of 4, 250m to the beach on the sunshine coast for listed for less than 200k.
When I enquired the RE advised me that there as a DA in process with 2 adjoining blocks and the owner of the unit that was for sale and had signed a form A. From what I understand this form gives the approval to submit the DA.
By purchasing this unit it would effectively offer 20 shares in a trust of 300 shares. Once DA is approved the trust would then find more investors to fund the project.
Before I delve deeper into this has anyone had experience with this type of deal. If I was to delve deeper what questions should I ask and what types of things should I look out for.
thanks
Rick
When I enquired the RE advised me that there as a DA in process with 2 adjoining blocks and the owner of the unit that was for sale and had signed a form A. From what I understand this form gives the approval to submit the DA.
By purchasing this unit it would effectively offer 20 shares in a trust of 300 shares. Once DA is approved the trust would then find more investors to fund the project.
Before I delve deeper into this has anyone had experience with this type of deal. If I was to delve deeper what questions should I ask and what types of things should I look out for.
thanks
Rick
