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Hello all,
Can any knowledgable people offer advice on IP in the Mackay area? I have been offered an off-the plan property in the area as my first IP.
B.
Hi B,
Welcome to the forums! It's great to see that you are looking to take action on property investing but are asking questions and starting a process of due diligence first.
I'm not that knowledgable but read some stuff on these forums recently that looked at some of the issues in buying off the plan. Is it in an established area or a new estate? I was reading one of the regular contributors posts (I cant remember which one or the name of the thread) and he said that he never buys straight from the developer because he wants to know the real price of the property (he's happy to buy property from the person who bought it from the developer). Apparently developers can manipulate early sales to inflate the prices people pay for the rest of the estate, but I dont understand how this happens. I would guess that if it is an established area you can better know what you are getting yourself into.
Also, there are a few threads going around about mackay. A search of the forums should lead you to it.
Regards,
Andrew
itsandrew
Go as far as you can see and you will see further.
Andrew – thanks for advice, I have read the post regarding buying from the person who bought from the developer.
Cheers
I live in Mackay, which development/builder?
Hi
Bloomer is the biulder and the development is Royal Sands just off Shoal Point Road.Thanks
BMackay is flooded with lots of discounted 2/3 year old properties … do yr research well … off the plan means you are paying a premium price …
D … Gateway to the Whitsundays just beautiful.
Wealth4life
thanks for that, i will look……….i'll keep learning!!
