All Topics / Creative Investing / How to find blocks of units?

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  • Profile photo of u36mau36ma
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    June 1, 2014 - 10:03 pm

    Which websites are good for finding blocks of units for sale? Domain and RealEstate seem to fall a bit short for these types of searches I think.

    Thanks for any advice.

    Profile photo of wilko1wilko1
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    June 1, 2014 - 10:18 pm

    Real estate.com does have that search option. See search criteria, house,land,rural etc the bottom should be block of units

    Profile photo of Richard TaylorRichard Taylor
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    June 5, 2014 - 11:12 pm

    Each town will have Agents that specialise in this type of property.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Nigel KibelNigel Kibel
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    June 6, 2014 - 10:14 am

    HI Andrew

    How easy is it to find blocks that stack up in value in Australia at present?

    Nigel Kibel | Property Know How
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    Profile photo of RamkiSydneyRamkiSydney
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    June 6, 2014 - 12:27 pm

    Hi Richard,

    Do you know any one in Brisbane who specialized in this?

    Regards

    Profile photo of Richard TaylorRichard Taylor
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    June 8, 2014 - 10:10 pm

    We employ an agent directly to source such deals for us Ramki.

    I bought all of my blocks this way.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of MichelleMichelle
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    September 5, 2014 - 8:39 pm

    Were you looking to buy individual units within a block, or the block itself?

    Michelle | Belle Property
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    Profile photo of Richard TaylorRichard Taylor
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    September 5, 2014 - 9:21 pm

    Block of units.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Kinnon BellKinnon Bell
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    September 5, 2014 - 9:23 pm

    I’ve used this website with varying degrees of success –> http://www.propertykeyword.com/aus.html

    “PropertyKeyword is a search engine for Australian real estate, allowing you to search for specific property types or features across the biggest Australian real estate sites”

    Kinnon Bell | Kinetic Funding
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    Profile photo of Richard TaylorRichard Taylor
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    September 10, 2014 - 9:06 am

    Ramki I sold one my blocks of 18 which settled 2 weeks ago.

    I sold it myself. 2 open inspections with access to one of the 2 bedders and 1 of the 1 bedders.

    Them closed Tender with no finance or B & P conditions accepted – 90 day settlement.

    Had 2 buyers both fairly close in price but one offered 200k deposit released to me the Seller from day 1.

    Market for blocks is good at the moment so these are the sorts of terms you need to come up with to play on this arena.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of RamkiSydneyRamkiSydney
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    September 10, 2014 - 11:13 am

    Thanks for the information Richard.

    Ramki

    Profile photo of Jacqui MiddletonJacqui Middleton
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    September 10, 2014 - 12:28 pm

    Some resi unitblocks are being utilized for commercial tenancies. Blood collection clinics and things like that. Businesses that don’t need to have loads of people at their site for ages taking up car-parking space. Just another reason why unitblocks are very popular as Richard says, and there is stiff competition for acquiring them.

    Jacqui Middleton | Middleton Buyers Advocates
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    Profile photo of CanberraClaireCanberraClaire
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    September 13, 2014 - 10:45 am

    Agree with the comments above, it’s not your average sale and in each town/area they’ll usually be a few key people who are interested in them. Many are traded off-market, so I’d suggest getting out there and talking to agents about it rather than a fruitless search online.

    CanberraClaire | Capital Buyers Agency
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    Profile photo of Tracey BTracey B
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    September 14, 2014 - 10:01 am

    Hi Richard
    How did you advertise the open homes when you sold them yourself?
    Thanks,
    Tracey

    Profile photo of Richard TaylorRichard Taylor
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    September 14, 2014 - 7:44 pm

    A couple of well place advertisements in the Property Investment section of the Courier Mail.

    Followed by Open for inspection for a 3 hours time slot.

    I have 2 other blocks and will do the same with these.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Tracey BTracey B
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    September 23, 2014 - 9:21 pm

    Thanks Richard. We’re just putting together the docs for a closed tender on our block of units and we’re considering how far and wide to advertise to ensure we attract any interested parties.

    I like your idea of a couple of long-ish open for inspection. That creates minimal disruption for the tenants.

    Cheers,
    Tracey

    Profile photo of Corey BattCorey Batt
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    September 24, 2014 - 12:27 pm

    Hi Tracey,

    How many units in the block?

    Corey Batt | Precision Funding
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    Profile photo of Tracey BTracey B
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    September 24, 2014 - 3:39 pm

    Hi Corey,
    17 units :-)
    Cheers,
    Tracey

    • This reply was modified 10 years, 2 months ago by Profile photo of Forum Moderator Forum Moderator.
    • This reply was modified 10 years, 2 months ago by Profile photo of Tracey B Tracey B.
    Profile photo of Tracey BTracey B
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    September 25, 2014 - 6:31 am

    Richard, another question if I may?

    When selling a whole block, what yield are investors seeking? Both gross and net if possible? I realise it isn’t only about the yield but I’ve had quite different opinions from my local agents who have appraised our block.

    Thanks,
    Tracey

    Profile photo of Richard TaylorRichard Taylor
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    October 25, 2014 - 10:00 pm

    Going to depend on the location.

    An acceptable return in a small regional town in going to be a lot higher than an Inner city block in Western Suburbs of Brisbane.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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