Hi All,
I have found cheap land in an area where most land is $350,000 to $500,000 per block, the land is going for under $300,000
(infact they have dropped the price from 300 to 275) on multiple blocks and they are NOT selling (which amazes me as this is a REALLY good area).Apparently the developer went bust a year ago, and people ‘snapped up’ the blocks to make a quick buck, how on earth do people find out about these things? do the developers post the land on there websites when they go under? is there a register? or auction?
Usually goes through the hands of the liquidator – so you need to watch the legal notices of who has gone broke, who the liquidator is and contact them to find out
Networking with real estate agents, developers, and accountants has been my most valuable tool. It takes a lot more time of course, but knowing about something before it actually happens or is locked down by legal proceedings presents some very interesting opportunities if you can go directly to the source. Apart from that, I agree with the above post – keep your ear to the ground religiously
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