Hi guys,
Im fairly new at this so all help would be appreciated. ive been thinking if I was to put a deposit on an undeveloped block through a developer then sell it before the finance settles, do I draw a new contract for the new price? and keep the old one? Otherwise the buyer would know the price I purchased it for and hence not buy…no action has been taken this is just for my knowledge…thanks guys
JohnHi Johna
Welcome to the forum. I hope you enjoy your time here.
As you are fairly new I'd suggest you have a good read of the information on this website about flips. It's at:
https://www.propertyinvesting.com/strategies/flips
I believe it will answer your questions.Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Be careful with this John
Do your research, if you cant sell it you will have to be able to settle on it
I wouldn’t do one of these by yourself unless you have a great mentor holding your hand through the process
I would also be looking at using a deposit bond if you were to proceed, however there are a few hurdles you need to get through before you contemplate buying
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