Where to find block of units on one title?

Discussion in 'What to buy' started by Ryan_sc, 9th May, 2017.

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  1. MoneyMan

    MoneyMan Well-Known Member

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  2. Ryan_sc

    Ryan_sc Active Member

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    Yes something of this nature is what I was looking for. Not sure the numbers stack up for this particular opportunity, but yes you hit the nail on the head regarding the type of opportunity. I managed to find a good block a few weeks back, and I'm currently awaiting finance approval to move ahead. Appreciate you sending this through @MoneyMan
     
  3. apk

    apk Well-Known Member

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  4. MoneyMan

    MoneyMan Well-Known Member

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    It would make each unit about $180k or less for the right price with upside for Reno
     
  5. apk

    apk Well-Known Member

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  6. MoneyMan

    MoneyMan Well-Known Member

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    Hi Apk, I didn't get this one. Was just looking at what unit blocks are for sale
     
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  7. aussieB

    aussieB Well-Known Member

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    There are a few available in Darwin. If memory serves correct there are at least 3 of them actively seeking a buyer. All available on realestate.com.au
     
  8. Wanttoretire

    Wanttoretire Well-Known Member

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    One of the ways I found to search for blocks of units in domain, etc for blocks of units is to look for 3, 4 or more bathrooms. Often agents in regional areas do not label them as blocks...just units.
     
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  9. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Housing Departments often sell older small unit blocks in need of TLC. Often as low income housing....I have two clients who like buying them.
     
  10. alicudi

    alicudi Well-Known Member

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  11. Inov8ive

    Inov8ive Well-Known Member

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    Generally regional areas. Parkes has a few. Mining towns like Port Hedland often have them as developer mortgagees
     
  12. adam duckworth

    adam duckworth Well-Known Member

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    seems as if this is back on the market? auction this weekend...
     
  13. strongy1986

    strongy1986 Well-Known Member

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    Most unit blocks are a rip off at asking price

    If the return was so good the owner would never sell.either

    Agents gloat about 7% returns on blovks in country towns yet the funny thing is you can buy a house for a third of the price with the same return and of course less risk due to vacancies or over exposure to small towns, high council rates, 3 x the maintenance costs

    Lists gos on
    Build your own investment
     
  14. apk

    apk Well-Known Member

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    To those who bought unit blocks, what is your exit strategy?

    2013 - Possible to get residential lending for 4 to 6 on single title (brokers please correct me if I am wrong)
    2017 - Now, not many residential lender happy to lend you for 4 on a block single title.
    2020 - Any crystal ball brokers?
     
  15. Heinz57

    Heinz57 Well-Known Member

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    Exit strategy originally was to strata title and sell gradually to fund retirement. However am now realising the potential of the land / zoning and wondering if a developer might make me an offer down the track.
     
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  16. thatbum

    thatbum Well-Known Member

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    I never pulled the trigger on buying any, but for the ones I was seriously considering, the strat was to strata title and then release the equity gain for future borrowings.

    I would have been reluctant to sell off any of the units and lose control of the strata unless I had to.
     
  17. apk

    apk Well-Known Member

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    As I understand strata titling can get expensive for various reasons like fire walls, separate electricity meters, water and as such...

    Selling strata titled may be easier I reckon, but if it is on single title and more than 4 in a block how the buyer is going to get residential finance (this is my original question)