All Topics / Help Needed! / Purchasing ‘off the plan’

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of PickworthPickworth
    Member
    @pickworth
    Join Date: 2004
    Post Count: 48
    November 15, 2004 - 2:55 am

    Hi all

    Is there anything I need to be specifically aware of when purchasing industrial property ‘off the plan’?

    The stamp duty saving is very attractive resulting in making money from day one as recommended by the gurus.

    Is there anything in the fine print to look for?

    This is a great forum.

    Regards

    Profile photo of yackyack
    Member
    @yack
    Join Date: 2003
    Post Count: 1,206
    November 15, 2004 - 4:56 am

    It may not be in the fine print – but how certain are you that you could find a tenant quickly.

    What you save in stamp duty you may loose in lost rent and interest payments.

    Profile photo of PickworthPickworth
    Member
    @pickworth
    Join Date: 2004
    Post Count: 48
    November 15, 2004 - 6:27 am

    Thanks Yack

    Nothing is ever guaranteed re tenancy however the property is in a prime location & I have other cashflow +ve investments to cover any shortfall.

    Sometimes you need to speculate to accumulate.

    Thanks again for your reply.

    ‘ You will never go broke taking a profit ‘

    Profile photo of Jenny LambertonJenny Lamberton
    Member
    @jenny-lamberton
    Join Date: 2003
    Post Count: 11
    November 15, 2004 - 7:49 am

    You may have already done this, but check with local council to make sure the land is zoned for industrial use. [biggrin]

    Jenny Lamberton

    Profile photo of PickworthPickworth
    Member
    @pickworth
    Join Date: 2004
    Post Count: 48
    November 15, 2004 - 7:57 am

    Hi Jenny

    Thanks for your reply, I do appreciate it – zoned industrial 1

    cya

    ‘ you will never go broke taking a profit ‘

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.