All Topics / Creative Investing / Flipping an undeveloped property

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  • Profile photo of Johna212Johna212
    Join Date: 2012
    Post Count: 1

    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

    Profile photo of Paul DobsonPaul Dobson
    Join Date: 2003
    Post Count: 1,196

    Hi 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:
    I believe it will answer your questions.

    Cheers,  Paul

    Paul Dobson | Vendor Finance Institute
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of Rental ProfitsRental Profits
    Join Date: 2008
    Post Count: 28

    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

Viewing 3 posts - 1 through 3 (of 3 total)

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