Hi Everyone,
I am looking at a block of 3 2BR units tomorrow after lunch, with a view to perhaps buying the whole block. It is not currently subdivided. At current rental yields, it would initially be cashflow neutral.
Anything particular to watch out for with small blocks of units? The units are quite old but in OK condition, and I understand (and am checking) that the block is zoned for multi-dwelling development so maybe do a redevelopment down the track.
Thoughts? Pitfalls? Criticisms?
Thanks heaps in advance.
I am looking at a block of 3 2BR units tomorrow after lunch, with a view to perhaps buying the whole block. It is not currently subdivided. At current rental yields, it would initially be cashflow neutral.
Anything particular to watch out for with small blocks of units? The units are quite old but in OK condition, and I understand (and am checking) that the block is zoned for multi-dwelling development so maybe do a redevelopment down the track.
Thoughts? Pitfalls? Criticisms?
Thanks heaps in advance.