Property investment

[Mike_Joiner]

They say that buying new property "off plan" can get you a good discount as you are helping the devleoper pay for their construction costs thereby reducing the amount they have to borrow.

Anyone have any experience or know friends who have done this? Good or bad?

[JessSenk]

I don't know anyone that does this on a regular basis but I do know that there are a lot of condos and neighborhoods that have had to stop in the middle of building because they haven't sold enough to complete the project. I think these may be worth looking into. Of course you'd want to be careful about buying the condo and that still not being enough for them to complete the project, making you the proud owner of some very expensive blueprints.

[Ima saver]

We have bought a few lots before the roads were put in. We got them at decent prices because of that. We are holding one lot that we hope to make a decent profit on. It has a drop dead view! However, we paid as much for that lot as some people pay for their houses.