Well, this is my first into the forum.
Currently I am discussing IP option thru Asset grp. This is one of those fly in for a day, inspect off the plan properties and put a deposit down. Although I love making decisions in pressure situations, I am hesitant when it comes to IP. Any one had experience in investing properties in this manner? What does one need to look for when going through finance brokerage firms.regards,
Vin.Welcome Vindaman,
If this is a deal flying into Queensland, I’d urge you to please look into this further as it sounds like 2 tier marketing to me, this is where the developer hires agents to sell their own developments & offers the agents BIG commissions so they’d sell anything to anyone even their own grannies!!!
Cheers big Ears!!! Susie. (Gold Coast)
Welcome Vindaman,
If this is a deal flying into Queensland, I’d urge you to please look into this further as it sounds like 2 tier marketing to me, this is where the developer hires agents to sell their own developments & offers the agents BIG commissions so they’d sell anything to anyone even their own grannies!!!
Cheers big Ears!!! Susie. (Gold Coast)Be very careful about signing anything. I have heard of people buying under the circumstances you described and finding out much later that what they bought was grossly overpriced and it took years for the property to reach what they paid.[
!] Try and do your own research, or at least ring some local real estate agents in the area where you are to be shown and ask them prices etc. TREAD VERY CAREFULLY.
Best of luck
Marty[
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We had friends who signed up for one of these type of deals and they added a clause about being subject to coming in at 95% of a valuation by the bank providing finance (friends had made arrangement with bank before visiting Queensland). It ended up being their way out of a potentially sticky situation.
Take care
[]Thank you all for your input.
Thanks Spider,
That’s a very good piece of advice, definately worth remembering []Scott
“Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
-anonVindaman,
Don’t do it!! Don’t go.. There’s no such thing as a free flight. These type of people don’t like taking NO for an answer.[
][][]My advice (for what it’s worth)… Keep reading this forum for a month or two, and learn enough to do it on your own. [
][][] It will save you THOUSANDS!!!!If you do go and sign up, PLEASE make sure you put in an escape clause into the contract.
Good luck,
DelGood advice Del.
I have heard, haven’t had experience here but, heard that if you pay for your own flight and go to see agents on your own terms you will cut out the marketing men, I am sure there a plenty of developments up there that any agent would have listed.
DON”T GO!, Keep reading here and do it yourself when you are better informed.
Cheers
Leigh K[]Read, learn, grow but most of all just do it.
Vindaman,
Excusae my choice of words, but don’t be silly!
There is nothing for free in this world!I recently bought a unit in Southport for $192K, which was purchased for $210K four years ago the same way you have just described.
Four years ago the unit was actually worth under $150K.The bad purchase partially contributed to a divorce between people that I purchased the unit from.
Go there by yourself and see the prices people pay at the local realestate agencies.Thanks
Milo
!] Try and do your own research, or at least ring some local real estate agents in the area where you are to be shown and ask them prices etc. TREAD VERY CAREFULLY.
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