Hi All, i have a quick question for you all.
i have a few investment properties in a particular block, i am keen to buy another in the same development. Other than dropping letters in all their letter boxes is there a smart way of trying to find a seller?I am guessing a fair few would be tenanted so most letters wouldnt even get to the owners.
thanks
JoeDepends upon your timeframe. Worse thing when you go out and target a specific property, the vendor will know how much you are wanting to get in to it. You will then probably end up paying a premium. If you have a couple of local REA that you know ask them to keep an eye out, but some of them will then end up doing letter box drop/sending letter to the owner once again ending up in paying a premium. Find out when the next AGM for the body corp is, make general conversation with some of the other owners to see if any are thinking of moving on. Do regular searches of different property websites – set up alerts to receive new properties matching your critea via email.
Put a notice up on the notice board (friend of mine did this an got a unit cheap) and approach the managing agent – if there is one who does most of the building rentals.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
As the owner of a Unit you should have access to the Body Corp records and the owners of each unit.
You could then write to them directly or even go thru the Body Corp to get them to pass on the letters etc.Just list your requirements on the real estate sites. I wouldn’t advise you to invest in real estate because at one place instead invest in some distant locations that will balance the escalation rates.
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