Given a good enough deal I'm sure there's a few people on this forum who would plonk a suitcase of 500K in cash or bank cheque on an REAs desk within a matter of days.
You are very naive to think that people "dont have that kind of money".
The deal is not good enough for most investors that have it to want to spend the money at this time.
Those who want to spend it are incidently those that dont have it.
There's a lesson in that.
Hi Piston Broke,
I was not referring to the people on this forum but the public in general.
But for you to say then why they cant find a buyer if there is money to be made is very very naive (no disrespect).
Given 2 examples:
I bought a property in The Entrance for $203K
7/18 BATTLEY AVE, THE ENTRANCE, NSW, 2261
Sold For:
$203,000 Sold on:
09/04/2009 Sale Type:
Normal Sale Property Type:
RESIDENCE Land Size:
Sold it 3 months (the dates are contract dates not settlement dates) later for $260K
7/18 BATTLEY AVE, THE ENTRANCE, NSW, 2261
Sold For:
$260,000 Sold on:
11/11/2009 Sale Type:
Normal Sale Property Type:
RESIDENCE
Made about $40K net for not doing anything except buying and selling it. This property was on the market for some time before I bought it so why was there no buyers? I did not spend any money to add value etc.
I bought a property in Carramar for $132K which I still own:
6/1 WATERSIDE CRES, CARRAMAR, NSW, 2163
Sold For:
$132,000 Sold on:
03/11/2008 Sale Type:
Normal Sale Property Type:
RESIDENCE Land Size:
Recently a sale in the complex of similar property at $200K, that is 50% profit in 2 years:
11/1 WATERSIDE CRES, CARRAMAR, NSW, 2163
Sold For:
$200,000 Sold on:
10/08/2010 Sale Type:
Normal Sale Property Type:
RESIDENCE Land Size:
This property was on the market for 6 months and was listed at $150K. Why couldn't they find a buyer ?
I could have spent all my time thinking why can't they find any buyers if its such a good deal just like your comment but I decided not to.