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Whether it’s your friend/brother/sister/family/relative, do your due diligence and make sure you’re protected. Money and people don’t mix.
Thanks BuyersAgent, appreciate your feedback.
Yes, I totally agree with you and I have already seen sales in the area with BC attached to the deal. My financial institution is aware of this and my broker mentioned that the BC should not affect the value of the land.
Thank you Benny, appreciate the above :)
Down Down, the interest rates are down!! (again). But what now ? Time to buy or is there something bigger that’s getting cooked in the background which we don’t know about ?
Any thoughts ?
I have been monitoring the market, specifically, North of Melbourne, and i have seen prices drop significantly. For example, peak of 2017, a 4 bedroom house on 448 land was going around 700K, now begging to sell for 600K. So I think the prices will drop a little bit more.
What happens if I manage to save some money ? So say, save up for another deposit, would the banks now consider it or is 2 houses the limit ? I’m thinking about developers, how they manage to build 3 or 4 units and then sell them.
Your last paragraph covered what I’m after.
So basically obtain a building license so that I build houses and run my own projects.
I’ll enquire through HIA and Master Builders Vic.
I second what Terry said.
Seek legal advice and make sure you’re protected, because once money is involved, people change.