Turn Key packages and profit

In the last boom in WA we had a few members who were buying up turn key packages and then selling then almost on completion.
Kenneth and Sparky come to mind. I think we have a formite doing this in QLD full time.
As the boom headed skywards so did their profits especially for the sign ups early which were hitting the market when demand was really starting to build momentom.
I have noticed that a few of the display home builders in my area are offering some pretty good deals as far as extras are concerned. Demand is slow at present.
I have identified an area where it is very family friendy, a new school is to be built in the imediate future, walk to water, shops ,sporting facilities etc
Ticks all the boxes as they say.

Now what l would like to know is how to implement this stratergy of bringing the house to completion and selling it without me paying for it?

Looking at all the current information , demand should be really starting to build in late 2010 and into 2011
So what do l need to know?

the good the bad and the ugly please

fire away
Hi yadreamin

What will your profit be on completion today?

When I was doing land and house packages in Mandurah area in the boom days I was making at least 20%+.

I like this strategy when the market is rising just wish I sold a few more. I am not sure whether it will work today.

My concern would be that possibly you can purchase established homes with all the fruit cheaper than new homes. Do you know?

You could always look at other areas in Oz where the market is rising, I believe some formites from WA are doing well with land and house packages in Pt Cook, Melbourne.

Cheers, MTR
Thanks MTR
I havent gone into great research just yet with costs and estimated profits.
I just felt it was worth alook or some research as the supply and demand se saw starts to tilt. be it ever so slightly.
As it would be 12 months till completion l would get the beggining of an upswing in prices and a shortage of properties.
I do know of a couple of investors who got caught with their builds finishing too late in the boom.
I shall keep plugging along.
some good pockets around brisbane at the moment where this can be done.

Murrumba Downs is one...land is around 205k - can put a house on there for around the 200k mark and the resale is around 485-490 if done right.

You could also look at taking out an option contract on the property then onselling that. It minimises the risk that way becuase if there is a downturn in the market or you do not find a seller you would not need to complete the purchase transaction.