Hey guys,
i have just heard about a development in Sydney’s west, with shops/offices at the bottom levels, and i dont know how many hundreds of units, with completion date of 2010/2011 (i dont want to give any details until i confirm this is all true, so far i have only heard it from a friend of a friend. stay tuned for details when all is confirmed)
I think the developer will be giving opportunities to purchase options for $1000-$5000 off the plans.
My brother and i were thinking about buying a couple of options each, with the idea of on-selling some before settlement for capital growth, and keeping 1 or 2 depending on the market.
I would rather sell them all if i cant turn them into positive cashflow properties.
Can anyone give me some advise on this strategy, as i have never bought off the plans, nor have i purchased units from a new development of hundreds.
I am a bit concerned that on-selling will be difficult due to the sudden flood of these properties onto the market.
However we were thinking of purchasing from the tower that will be built last in the hope that alot of the properties would have already been sold and occupied (this was my brothers idea).
Can anyone see the pro’s and con’s of this logic?Thanks
KALTS
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