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Leanne King

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Leanne | 22 Nov 2013, 10:44 AM Agree 0
Looking at options for buying land with settlement in 8-10 years time through a company called Market First.You pay 40k for the option and supposedly buying it at todays prices and you can flip it at any time before settlement.It is a "branded"development with all houses to be built on there architecturally designed.It is in the western suburbs of Melbourne.Any thoughts on this type of investment.Apparently it can all be done through your SMSF.
  • Mark Coburn | 22 Nov 2013, 03:32 PM Agree 0
    I would suggest that you get a lot more experience as an investor under your belt before thinking about this type of investment. With this deal, it could be 5-7 years before you find out you have be had, and I really mean "had".
    Feel free to call me for more details that I can't say here.
    Mark Coburn 0405 243 547
    Stepping Stone : Buyer's Agent & Property Investment Advisors
  • Goodo | 26 Nov 2013, 02:07 PM Agree 0
    Be careful if you are considering a new build via SMSF. A SMSF purchase is a once only deal and it can't improve the property, so the contract to buy the land and the contract to build have to be done via ONE contract otherwise you will breach the SIS Act.

    Stephen Goodwin
    Franchise Owner
    Resi Mortgage
    0405 388 467

  • Kayewatch | 04 May 2014, 12:25 AM Agree 0
    Before you buy any sort of long term property option deal, you should insist that the CEO of the company signs a statutory declaration to say that Henry Kaye is not involved in any way: not associated with the company or its related entities, not an advisor or consultant, not linked to the company or the deal in any way at all.

    If the CEO is at all reluctant to sign the stat dec, well then that's all you need to know.
  • Sue | 17 May 2014, 11:52 PM Agree 0
    Before you get into this deal just know that the setup will use your money for investment as they spend a long time looking for the right prop. - years . They will then inform you that it didn't go through as they need more money. This goes on while they have fully invested your money elsewhere and profited. You will get the same amount back in 7-8 yrs with no gain.
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