I do not qualify as someone who has experience however I'm currently looking at Strata Titling as an investment strategy and has done some research and homework on it already. While it is quite a comprehensive exercise it requires effort if you want to get results. Some things seems very obvious.
Decide on type of investment required
1. Create wealth - Real assets (Add equity): Buy & hold
2. Create Cash Flow - Paper assets (add value): Buy & sell
3. Lets assume the latter (2) and now decide what small renovations may add massive results as part of the Strata Titling.
a. Familiarisation with the chosen area
b. Virtual reconnaissance of suburb and properties via Internet and web tools
c. Use a list of historical Development Approvals and visit each address.
d. Build a portfolio of blocks with units you prefer. Develop a feeling for what is needed by the market and sells well. Prepare to take pictures of buildings, sites and streets. Use a tape recorder and make comments about the property and surroundings
3.1 What to look for in previous Strata Titling developments:
? Get good simple design ideas that will be inexpensive
? Always be looking for an edge
? Assess if you would want to live there.
? check attractiveness of demographics, geographical, infrastructure, opportunities, new infrastructure planned
? Get a feeling for the place; walk the area, have a coffee, buy a paper.
? Impression of road frontage ? a 10 feet tall boulder wall create a feeling of solidity and prestige
? Check is a retainer wall can be an added plus instead by presenting a greater prestige image (will this increase the sales price)
? Check for quality and style on a great entrance as you leave the approach road
? Use all senses (based on emotion) feel, small, hear
? As you drive through the entrance look for changes in road and colour changes, width and length of special road finish
? Identify the theme (key) and see how it carries through to other road surfaces, colour scheme, uniform paving and uniting whole landscape.
? Theme, colour and surface of traffic island
? Any special lamp posts or street name boards
? Theme, colour and surface of walking pavements
? Take measurements of road and pavements width and impressions it make (it can reduce the quality feel of entire development)
? Slope of the land ? topography
? Natural standing water for water landscaping or natural depression for such water feature
3.2 What to look for in previous blocks with 4-6 units developments:
.................etc
Let me know if this is what you are looking for because my reply will become very lengthy.