developer selling / buying in same block

[tab]

Hi,

What do people think of buying a unit in the same block as an existing IP?

Does anyone have 2 in 1 block/complex?

The building is 6 years old and the developer is selling off the units he holds, apparently for cashflow reasons. The apartments rent well and are in a great spot for young professionals

Im thinking I will have to check my body corp stuff to see if the developer is selling off for a different reason. If the building needed repairs having one IP there would be bad enough let alone 2!!

cheers
tab

 

[wobbycarly]

This is something that has vexed me over time, as we've seen growth in one of our townhouses as sales continue... but personally, I'd prefer to diversify unless in the case of units, I can buy the whole block.

Maybe you could buy one at an inflated price to get a new high valuation on "comparable sales!"

 

[ianvestor]

Personally, I'd prefer to diversify unless in the case of units, I can buy the whole block.

This is pretty much what I was going to write, but more succinct.

 

[VYBerlinaV8]

I own two units in one block (of about 50), and never had any issues.

I also own a block of 3.

Manage your risk and you'll be fine.