All Topics / General Property / Wanted to buy investment Property in specific block

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  • Profile photo of joez71joez71
    Participant
    @joez71
    Join Date: 2006
    Post Count: 28

    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
    Joe

    Profile photo of gibbo1gibbo1
    Participant
    @gibbo1
    Join Date: 2008
    Post Count: 152

    Depends 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.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    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 Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Chris-SydChris-Syd
    Participant
    @chris-syd
    Join Date: 2003
    Post Count: 75

    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.

    Profile photo of shubhshubh
    Member
    @shubh
    Join Date: 2009
    Post Count: 22

    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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