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 Buying LELONG property, Advice needed

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SUSAllnGap
post Jun 19 2018, 02:00 PM

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Parking
SUSAllnGap
post Mar 3 2019, 08:07 AM

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QUOTE(SonnyCooL @ Jun 20 2018, 04:37 AM)
Hhahahhahahaha ......
woo more than 100 times, i been making profit since 1998 with bank auction, even i don't bid for any unit, i still can walk out with smile 1-2k in my pocket.
*
Ppl buy u off is it ??
Syok neh
SUSAllnGap
post Aug 26 2019, 09:10 AM

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QUOTE(BillCollector @ Aug 4 2019, 04:17 PM)
Owner of 5 landed houses that I bought through auctions over the last 10 years.
All of them were below market value and for a reason. Some had been through several rounds at auction.
Some pros and cons as well as tips :-
+You can get a house below market value and sometimes you do strike gold.
+You never know what you get inside. It isn't always as empty as you would think it is.
-You cannot check out the interior. If you own a drone you could use it to take a look from the windows which might give you some clues.
-You have to move very quickly.
-You do need to do your ground and home work thoroughly and know what you are getting yourself into and who assumes what, this is especially so with unpaid taxes, utility arrears and strata maintenance fees.
-Have to check for caveats.
-Is the owner still living in there? If he is expect trouble.
*If you are using leverage and will need rental to cover the mortgage or require a quick turnaround time you better not buy at real estate auctions and you might want to consider if your stamina can last up to a year with no income.
*Do you think you are smart? Many are smarter than you. Check out why it hasn't sold in previous rounds.
*Visit the premise more than 1 time and especially at nites.
*Plenty of frauds going on lately as the whole industry is beset with syndicates and crooks.
You can read about my experiences in the spoilers if it is off interest to you.
House 1
» Click to show Spoiler - click again to hide... «

House 2
» Click to show Spoiler - click again to hide... «

House 3
» Click to show Spoiler - click again to hide... «

House 4
» Click to show Spoiler - click again to hide... «

House 5
» Click to show Spoiler - click again to hide... «

*
bro, good shit you have there, seriously good shit.

wanna ask you
1. you've dumped so much money to redo whole house, is it still worth it ah ? some might eat up 30% of the under-value stuff d
2. you did all these cash dumping things based on first property or from extra source ? like you've started with 1mil then snowball it ??
3. where you learn those legal yet dirty tricks from ??
damn epic !!!

btw, i have a commercial land for sale way below market value. if you can swallow 20acres let me know then.
SUSAllnGap
post Aug 26 2019, 06:44 PM

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QUOTE(BillCollector @ Aug 26 2019, 06:28 PM)
1) Yes it is, I dumped the money into it the valuation went up by more than I had dumped into it.

2) Remortgaging and I did have to pump in some money on my own when it came to maintenance.

3) 18 years of doing it, some American and British tricks. Some I learned from seasoned property flippers and some from lawyer friends of mine.

Don't have that type of stamina for 20 acres of commercial land. Single parcel?

Am looking for industrial land by a riverside actually.
*
Lol at house number 5. their car got trashed, cafe got disturbed, gate got modified, water and electricity bill got cut also they hog that house. That lady really had serious balls.

Ya single parcel.

 

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