How to find blocks of units?

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u36ma
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@u36ma
Join Date: 2011
Post Count: 35
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.
wilko1
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@wilko1
Join Date: 2010
Post Count: 510
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
Richard Taylor
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@qlds007
Join Date: 2003
Post Count: 12,024
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
Nigel Kibel
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@nigel-kibel
Join Date: 2005
Post Count: 1,425
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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RamkiSydney
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@ramkisydney
Join Date: 2013
Post Count: 27
June 6, 2014 - 12:27 pm
Hi Richard,
Do you know any one in Brisbane who specialized in this?
Regards
Richard Taylor
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@qlds007
Join Date: 2003
Post Count: 12,024
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
Michelle
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@sherlockhomes
Join Date: 2014
Post Count: 10
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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Richard Taylor
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@qlds007
Join Date: 2003
Post Count: 12,024
September 5, 2014 - 9:21 pm
Block of units.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Kinnon Bell
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@kinnon
Join Date: 2014
Post Count: 151
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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Richard 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
RamkiSydney
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Join Date: 2013
Post Count: 27
September 10, 2014 - 11:13 am
Thanks for the information Richard.
Ramki
Jacqui Middleton
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@jacm
Join Date: 2009
Post Count: 2,539
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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CanberraClaire
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Join Date: 2005
Post Count: 47
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.
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Tracey B
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@tracey-b
Join Date: 2009
Post Count: 158
September 14, 2014 - 10:01 am
Hi Richard
How did you advertise the open homes when you sold them yourself?
Thanks,
Tracey
Richard Taylor
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@qlds007
Join Date: 2003
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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
Tracey B
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@tracey-b
Join Date: 2009
Post Count: 158
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
Corey Batt
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@cjaysa
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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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Tracey B
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September 24, 2014 - 3:39 pm
Hi Corey,
17 units :-)
Cheers,
Tracey
- This reply was modified 10 years, 3 months ago by Forum Moderator.
- This reply was modified 10 years, 3 months ago by Tracey B.
Tracey B
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@tracey-b
Join Date: 2009
Post Count: 158
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
Richard Taylor
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@qlds007
Join Date: 2003
Post Count: 12,024
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