Unit blocks- can you retail?

[WebBoard]

From: James Johnson


Hi everyone,

I've been looking at a block of units (8x2 bd) in a regional town. Asking price is 300K which is 37.5K per unit. Would it be possible to buy the unit block and then sell each unit for say 50K? Does anyone have any experience with how much it would cost with legal fees and inspections and insurance to buy/do something like this?
Thanks for any shared experiences,
Jimmy

 

[Rolf Latham]

Reply: 1
From: Rolf Latham


Hi There

Step one must be to see the local town planner to establish if the units can be set up on separate titles and what regs re fire etc have to be met.

Often there are other rules such as the provision of afordable housing that get in your way


Ta
Rolf