Surprise Dave :)

From: Jude H

Received this from Dave this afternoon. If you're interested drop him a line, if you're not, drop him a line anyway and say gidday!

Ha Ha Luv ya Dave

> Hello everyone.
> This email is going out to everyone who either:
> * joined in with me in buying an apartment in Yarraville at a
> discount.
> * chose not to buy in Yarraville, but has requested to be kept
> informed with any other opportunities.
> * Contacted me regarding deposit bond brokers, and are looking to
> buy off the plan with extended settlement periods.
> There are over 50 of you on this email.
> Ok, where do I start?
> For those of you who are aware, I was able to negotiate a substantial
> discount with a developer on an apartment development in Yarraville,
> Melbourne. The development is now sold out. Since then, I have been
> contacted by several other developers, who must have heard how a
> network of investors bought out the remainder of an entire development
> within two weeks. Some of these, I've told to take a hike because I
> haven't liked the location/type of development. One, however, is very
> interesting and worth telling you all about. (It's a different
> developer to the one in Yarraville...not affiliated in any way.)
> This particular developer does work only in high growth areas such as
> Brunswick, Richmond, East Melbourne. He never uses Real Estate agents
> as most of his sales are to investors who are repeat clients that have
> been satisfied with the return they've enjoyed on previous purchases
> from this developer. The development he told me about was in West
> Melbourne, about 3km from the CBD. It's a 60 apartment development,
> with 15 apartments remaining. I did the research and found that West
> Melbourne experienced 34% growth in 2000 alone, and 21% in 1999. I
> nearly fell off my chair. Anyway, he's asked me to have a look at it
> from an investors perspective. I am impressed. The apartments are
> quite pricey (as they all are - $260k - $470K) but there is not an
> unlimited supply (as is the case in the CBD) and the settlement period
> is over 24 months. Also, he is willing to take deposit bonds only.
> Since finding a deposit bond broker who approves multiple bonds, I may
> buy with the intention of 'flipping' prior to settlement. This may be
> the strategy some of you may choose.
> Anyway, before I go back to him and try to negotiate, I would like to
> get a gauge as to what sort of interest there is out there. If any of
> you are interested, please let me know as soon as possible via
> far, in the last 2 hours, I have 4 already wanting in.
> Have a great day!
> Cheers,
> Dave
> :)
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