This is very exciting! I've just booked an expression of interest for a unit that's misplaced by 100k or more as compared to a similar property just next door.
How did this happen? I was at a seminar just hanging around, learning new stuffs and networking. Met a fellow investor who bought the 1st phase of the project at $590k, a 3 bedder townhouse fronting the lake. As usual I was just checking out the girls when I overheard my agents commenting on the same project with some suspicion of mispricing. As I've researched that property earlier and found the project to be exciting but pricey. The project is Canopi in Keilor East - an up and coming area. When I heard the possible mispricing, I went to my agent and said, send in my EOI immediately. Take it off market for 2 weeks and we can see how.
The seminar is on investing and I was wondering how come these agents with such advanced knowledge of pricing change was not able to translate into a "Below Market Price" purchase? I mean all they had to do is take it off market and they definitely can find a good deal for their clients and a client for life for that matter.
Here I was excited about selling my pants to get this possibly AUD$100k below market value property. Just excited...
Be good to yourself... call up agents every now and then and get to know them better and tell them you are very rich and waiting to get into the market!
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