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Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of Sam DiamondSam Diamond
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    @samdiamond
    Join Date: 2016
    Post Count: 8
    November 29, 2016 - 10:31 am

    Thanks mate, I get it now. This word of caution that you and Robert have put forward is of great help. I need to ensure the contract has provision to be able to onsell.

    Thanks,
    Sam

    Profile photo of Sam DiamondSam Diamond
    Participant
    @samdiamond
    Join Date: 2016
    Post Count: 8
    November 28, 2016 - 11:08 pm

    Hi Ethan,

    Sorry, I didn’t quite understand this strategy. Can you please elaborate?

    Thanks,
    Sam

    Profile photo of Sam DiamondSam Diamond
    Participant
    @samdiamond
    Join Date: 2016
    Post Count: 8
    November 28, 2016 - 11:05 pm

    Thanks Robert. Thats valuable information. I will try and go ahead with it to see if I can negotiate 5% deposit and get an agreement to onsell.

    Thanks,
    Sam

    Profile photo of Sam DiamondSam Diamond
    Participant
    @samdiamond
    Join Date: 2016
    Post Count: 8
    July 10, 2016 - 5:19 pm

    Thanks Corey. Yes I am talking about buying a land off the plan from a developer.

    Scenario: I buy an off the plan land which is not titled at a price of 180K on Jun 2015. I pay 10% i.e. 18K and sign the contract between the developer and the myself.

    It could get titled after one year or in some cases after 2 years. Few months before its gets titled, generally the land sells at a higher value, say in this case it could be 240K.

    If I get another buyer, can I transfer the contract to this buyer and get the buyer to settle the land with the developer keeping a profit of 60K with me? Is this strategy good for people who are new in investing and need to save some cash/deposit to get into other conventional forms of property investing?

    Thanks,
    Sam

    Profile photo of Sam DiamondSam Diamond
    Participant
    @samdiamond
    Join Date: 2016
    Post Count: 8
    June 20, 2016 - 9:12 pm

    Thanks Benny, Richard and Terry for your responses. All your insights have been really valuable.

    Thanks Richard, now I have got your contact. I will get in touch with you when I find a potential opportunity to go through the nitty gritty.

    Terry, those are really good points. Mainly the borrowing capacity and the deposit eaten up. Now I dont feel the rush to get into something and the 1bed apartment does not seem a profitable investment. I am going to spend sometime going through the articles and resources and also thinking of taking the training course.

    Thanks,
    Sam

    Profile photo of Sam DiamondSam Diamond
    Participant
    @samdiamond
    Join Date: 2016
    Post Count: 8
    June 18, 2016 - 4:14 pm

    Thanks Benny for such an insightful response (especially point 4). I am glad that I joined this forum.

    Also, can you please let me know what is an MB? How do I run my figures by an MB?

    Thanks,
    Sam

Viewing 6 posts - 1 through 6 (of 6 total)