All Topics / Creative Investing / Buying IP’s for future amalgamation buyout

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  • Profile photo of mitmmitm
    Member
    @mitm
    Join Date: 2005
    Post Count: 28

    As a long term strategy, how does buying old beachside IP apartments with the view of selling out to a future developer amalgamating neighbouring sites to build a beachside tower sound.
    A collegue of mine bought a beachside unit 2001 for 200k.
    Sold it to developer for 900k. Valuation at time of buyout = 450k.
    Maybe swapping it for a unit in the new tower plus take some cash would be a good exit strategy.
    Any experiences or similar strategies?

    Profile photo of Fast LaneFast Lane
    Member
    @fast-lane
    Join Date: 2004
    Post Count: 527

    Sounds lucrative but a bit risky. Who knows what property developers have their eyes on, even beachside properties. You may be waiting a while in the current market, but if you have the cash beachside is always best regardless of whether it’s on a developers horizon or not.

    You might want to try Michael Yardney who’s on this forum for advice regarding this strategy as I beleive he’s done a fair bit of developing around Melbourne’s Bayside areas.

    Fast Lane- The poster formerly known as g7

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