Hi guys, I’m a new member so I hope I’m doing this the right way. My theory/question lies with the current trend of interest rate rises and the effects and consequential opportunities that will follow.
For reference I currently live on the Gold Coast and am witness to the over supply of domestic property investment/rentals.
I, like many other people with whom I associate believe that the Reserve will increase Interest rates at least 1% in the next year or so. This will cause great upset to those who are already stretched financially.
My theory is that there will be quite a lot of foreclosures following, but how does one go about finding out about such opportunities?
Is it just a matter of approaching banks or has this method changed?
I recently spoke to someone regarding this and he explained that the banks now put all their foreclosures to auction, is this true and how can you find out about them?
I also believe that this will cause a flood in the market bringing property prices down by 10-20%.
What is your opinion on this?
I welcome any feedback and would like to commend Steve & Co on the book the site and the hole shebang.
Power to those who believe there’s a better way and seek the ways to do so.Wayne Power aka Wayno[
]ideas are good,
action is great!did u see tt this monday??
http://www.todaytonight.com.au/stories/865014.html
They had poffessionals commenting on what they thought would happen.
Cheers Matt
“If you do what you have always done, you will get what you have always had.”
“Isn’t it time for a change?”
Hi Power biz and welcome to the forum.
Its already started and yes some go to auction, but from what I can see and found out, most are going in as private sellers, they don’t want the bad publicity that comes with auctions etc. Private selling and not even disclosing who is selling the property. But spend some time with the agents they will soon slip up here and there.
Regards Bear
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