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first time property purchase AND development

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  • first time property purchase AND development

    Good day one and all,

    My better half and I have been seriously considering buying our first property together. Not to live in as you may typically expect some late 20-something's to do, but rather to quickly add value and sell -giving us enough profit to help us on our way to Australia (where we WOULD buy somewhere to live)....

    That's the dream, but of course reality is different thing altogether.

    Can anyone offer words of wisdom, or point us in the direction of a good website/thread that''ll help us get started?

    Who has similar stories they'd like to share? How did you get started?

    Cheers,

    Nick

  • #2
    Re: first time property purchase AND development

    Hi Nick,

    Try looking at the usual property web sites but filter your results to look for repossessions - they should sell for under value - also look speak to your local estate agents and ask for properties which have recently been dropped in price; they will be keen to sell too.

    Then - look for the ones which need some refurb - choose in the right area - since area is king - then once done you should be able to flip it for a quick buck.

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    • #3
      Re: first time property purchase AND development

      Originally posted by Woodlanderbeats View Post
      G
      That's the dream, but of course reality is different thing altogether.

      Can anyone offer words of wisdom, or point us in the direction of a good website/thread that''ll help us get started?

      Who has similar stories they'd like to share? How did you get started?

      Cheers,

      Nick
      The best advice is to save your money and just go to Australia!

      Why would you want all the hassle (and risk) doing a property up and then trying to sell it in this market and these economic conditions.
      If you need a "thread to get you started" you clearly have no experience in such matters and will probably regret it.
      BRAND NEW HOMES
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      • #4
        Re: first time property purchase AND development

        Hi Nick. Basically look at websites such as right move but also look around and find where your nearest auction is. That can be a great place to grab bargains as long as you don't go mad in a bidding war which can send people 10's thousands over budget before they start. Also try doing most of the work yourself, decorating and other simple jobs and just get the pro's into do electrics and other potentially dangerous jobs if you don't know what your doing.
        Good luck.

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