Options to buy in a new estate

elearning

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A friend of mine is a property developer and is developing in a strong area of growth in galway ireland.

I have an option to buy one of the houses in the estate. I can buy the house at a reduced price or I can buy a serviced site and get in the buiders myself.

My question is which is the best. And what other options have I to try. He is flexible with me but I really do not know what to be asking and basically how to structure this to my best possible benefit.

That actually is my question how can I structure this so that it is most advantagous to me.

This will be an investment property that I will be selling as soon as humanly possible. I will not be keeping this, I am buying to make a profit.

Thanks everyone for your knowledge and time.
 
If it is your intention to buy property in Ireland with the goal of turning a fast buck you may have to face up to the reality that you may have missed the boat. A lot more research needs to be done on your part before you decide what is your best move.
 
Hi elearning,

I find your reference to Galway, Ireland interesting. Are you a resident of the Republic of Ireland?

Have a look at the [broken link removed] for some sceptical commentary/observations/discussion on the property market in Ireland over the last few months.

aj
 
This will be an investment property that I will be selling as soon as humanly possible. I will not be keeping this, I am buying to make a profit.

I think that this is a very risky strategy. Have you considered alternative investments?
 
In the current market I would only buy if I didn't mind keeping it for a few years. Buying as an investment seems extraordinarily risky.

However, if you are being offered a 500K house for 250K then it's a good deall. I wouldn't bank on capital appreciation but a bargain is always a bargain.
 
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