Sorry don't do inner city areas. I've only seen you mention them quite a few times . I also don't buy off the plan as I am selling instead.

Good luck doing your homework, sometimes it is had to find out information when investing but the more information you have, the better a decision you can make.

D

I'd suss it out with your solicitor see if they can shed some light on what it actually means for you as investor, they can look at they why and how from a legal aspect as well as help you with the contract etc.

Good luck keep us posted.

D

https://www.propertyinvesting.com/forums/property-investing/help-needed/4334684

HI Ol Painting,

See the thread above it has some links you might find useful, sorry very lazy today!!

D

Hi Packer,

It's ok to go off the plan, just be aware that the developer is making their money from you. There are plenty of ligit developers out there just need to check them out thoroughly. Find out what else they have built and go see it, ask for clients you can call to talk to about previous developments.

Get a good solicitor to check out the contract, check exclusions as well as inclusions, you don't always get everything you think you should get. Check the directors on the ASIC site see who they are then google for court cases etc against them.

If it is a rising market people try to get in "off the plan" then sell when complete to make a profit. That is where a huge risk lies. If you are buying off the plan and doing buy and hold make sure the numbers work for you. You can't add any value once the property is finished so you need to be happy with all the numbers straight up.

Do you mind telling us where they are developing?

D

No Worries Ben,

Good luck with your project, enjoy it!

D

hi Ben,

get your hands on a copy of Ron Forlees book about residential developing. I swear i am going to write to him and ask for a percentage. It really is a great book for developing. Other goodies are the API Small development guide, the red arm chair developer books, just watch the red arm chair ones they have split the material into several books. For fun and inspiration read 'the secrets of property millionaires exposed' and the' think and grow rich in property' book.

If you do a search up the top you will see numerous recommendations of books.

Good luck

D

Hi and Welcome Jacintak!

Find someone who will partner up with you..

Find your passion and run with that, whether it is some sort of add value or mining towns or USA, be an expert in what you love, it will show.

It might take you sometime to get into the swing of it, don't rush as there are plenty of deals for everyone, I think most people here have taken at least a couple of years to really get going and to understand what they want to achieve.

Good luck!

D

There are still houses for around the $350 mark, they are just in another suburb. This is the problem with supply and demand. Less supply in nice suburbs and more demand because of infrastructure etc means price goes up.

Expectations need to change. A lot of these ring suburbs were considered nasty areas 10 years ago, think about what suburbs will have been the nasty suburbs now and in 10 years will be desirable suburbs.

Better planning through some councils will mean improvements in some areas and suburbs, I'd be looking for those councils, the ones who are proactive in making a change and attracting money/jobs/etc.

Call me when the bubble pops…….

I'm not going to hold my breath I have better things to do.

D

uhh scuse dumb question here…

what's a wofmat?

The agent should be giving you an overall ad pack with the 3 websites and their own site for cheap or free depending on your agreement.

Personally I pretty much only use realestate.com.au I dislike domains setup and the realestateview thing is not as well known. However realestateview does have the listing up way before the others so people must use it.

D