Has anyone purchased units of the plans befor? There are alot of new units here on the gold coast and property here is booming. was thinking about buying a new unit off the plan and in a years time when the unit is completed selling it for a profit. Any info or experiences would be greatly appreciated.
thanks
Yes I've bought OFT and I sell them too. Buying OFT and selling before settlement is a very risky business and I strongly advice you against it. You shouldnt just assume the property prices will go up by the time it's completed. It could be the opposite. I would only suggest you do something like that if you're an experienced investor and if you're cashed up. Just incase no one buys it, you can settle the property even if the value has gone down.
Buy & Hold is the way to go in my opinion.
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