I am in a bad situation myself in a off the plan purchase… this is what I posted in Feb 2011. If I were you I'd get out off the deal now or it can financially rouine you.I invested in a property two and a half years ago on an investment property off the plan ($540k). Yes I was a sucker, no stamp duty and a rental guaranty for two years. Judging…[Read more]

In my opinion Brunswick seems to have been left undeveloped.I have been analysing fringe areas of Melbourne CBD for the last four years forIPs. This is a good opportunity to get an investment property now because it isonly catching on in last the last years. A number of major building projects are in the pipeline. Itis very close to the city, and…[Read more]

Thanks for all your comments. For some time no one made any comments, I started to think my situation was falling on deaf ears. Your comments have been some help and assurance. You have given me food for thought and will look into some of your ideas.Currently it's on the market for sale, and back on the rental market as well. If it was rented out…[Read more]

Thanks for your comments.I am angry and am trying to seek some answer or to blame some one. Obviously it's going to cost me money to sell and try to recoup my money. I still think that when these developers were chosen or allowed to develop the property a reasonable duty of care should have been made to maker sure they can fulfill the whole…[Read more]

I appreciate all your comments, especially xdrew you are definately right about the time, effort, cost and know how involved in building projects.I tried to find out the credibility of the buiding company, i know now that they must have been small and did not have the capital base, because the real estate agents would have used it as a…[Read more]

Thanks Luke,I tried to do at best my due diligence. Unfortunately all parties concerned did not want to disclose the builders/property developersinformation. Glenn