Ah - but you can go wrong with property and Pegasus is looking like a prime example.
An Jacks-point(joke -point) 600k sections now not even selling for 250k (investors that paid the 10% dep on the 600k were told of how cheap they were getting them for LOL)
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
An Jacks-point(joke -point) 600k sections now not even selling for 250k (investors that paid the 10% dep on the 600k were told of how cheap they were getting them for LOL)
One of my "Golden Rules" is to NEVER buy into a bareland subdivision. For a start they are always come with lots of hype and promises which get the crowd excited but the hype often does not live up to expectations. You also never know what your neighbours will be like. Inevitably as sections fail to sell and developers move on Covenants become less useful. So you see early investors putting up their 500sqm house only to find the empty section next door gets a David Reid home five years later. I never could quite get my head around Jacks Point except it appealed to big noters who thought putting $1.5m into an empty property was a good idea. Same with Pegasus - why build out there when the elements are against you and its further from employment (which is needed to fund the mortgage and justify the Work Visa) than many other suburbs closer to town.
Multiplex takes a hit on their 50%
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Originally Posted by Arthur
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