All Forum Posts by: Richard Bui

@Richard Bui

I think you need to be on the Aussie forum as someone mentioned propertychat.

However, I would like to comment on the Aussie market in general. Not a great time to be buying as we currently in the middle of a credit squeeze. I am a developer in Australia and it is very difficult to source finance at the moment. 

This with current negative market sentiment adds another layer of risk.

I started with a build, 3 villas. you need to crawl before you walk. Market conditions are critical when developing, I like to develop when markets are rising, not when they are falling, easiest way to lose money.

All the best

Hi there,

I would try propertychat.com.au for Aussie property discussion.

Thanks Jordan :)

Richard,

I would not recommend starting off with a ground up project if you have no experience yet unless you hire a developer to do the project for you if you have the funding or you could partner with one.

If this is a really great deal that is listed on the open market other developers would have already snatched it up. The fact that it has not sold is a red flag.

If you have found something off market or unique that no one else has seen then you could put it under contract for a study period and reach out to experienced developers and offer to partner with them. You will not be able to ask for much unless its a really fantastic deal but you could get a small piece and a lot of good experience.