When something seems too good to be true....

[Kinnon Bell]

I am potentially looking at expanding my portfolio soon and was considering a block of units. I'm still only in the "learning phase" as I'm not overly familiar with purchasing multi-dwelling investments.

I happened across this block of units and without looking any further than the actual ad on re.com.au I was wondering if there is anything obvious, or not so obvious, about this block that is making it so cheap? It really does seem too good to be true.

http://www.realestate.com.au/property-unitblock-vic-brunswick+east-107492582

TIA!

 

[The Y-man]

Yeah.... that does look rather cheap!!

The Y-man

 

[Alex P Keaton]

hmmm maybe they left a 1 off the beginning by mistake 1.4 mil

 

[jacbmw]

I am thinking 430k each, as looks like median unit price in suburb is $450k mark. Not sure about you Kesse, but ten of these @ that price would drastically expand my portfolio ;-)

 

[Kinnon Bell]

I am thinking 430k each, as looks like median unit price in suburb is $450k mark. Not sure about you Kesse, but ten of these @ that price would drastically expand my portfolio ;-)

I was thinking each too but reading the description -->

"PRICE REDUCTION "THE BLOCK" OF TEN - "BLYTH CENTRAL"
This is your chance to buy a whole "blue-chip" block and benefit from the block strategy as shown on TV. Ten large two bedroom apartments (approximately 8-9 squares), all with large courtyards or balconies and thirteen carparks (three units with two carparks) on a large 1050m2 block that has possibility for development (S.T.C.A.)"

I can't read it any other way except that the price is for the whole 10???

Maybe like Alex said they've put the comma in the wrong place or left off a digit but the add has been amended since I last saw it and the price hasn't risen.

 

[Aaron Sice]

it's each, for sure.

or the decimal is in the wrong spot.

 

[Tebby]

Yeah I know that company, they are selling each individual unit separately.

 

[marg4000]

From the ad:

1-10/100 Blyth Street, Brunswick East, Vic 3057
$430,0000.00




Look at the whole figure. All the digits are correct, but the comma is in the wrong spot - and there should be two of them. The price is $4300000, or $4.3m.

Clever trick.

Well, it got us all looking, didn't it?
Marg

 

[Kinnon Bell]

From the ad:

1-10/100 Blyth Street, Brunswick East, Vic 3057
$430,0000.00




Look at the whole figure. All the digits are correct, but the comma is in the wrong spot - and there should be two of them. The price is $4300000, or $4.3m.

Clever trick.

Well, it got us all looking, didn't it?
Marg

Of course, looks so obvious now! Very sneaky. Thanks for that Marg.

 

[shuggy]

Of course, looks so obvious now! Very sneaky. Thanks for that Marg.

Yes well spotted Marg, it's the old 430 ten thousand dollars trick, not 43 one hundred thousand dollars.

 

[marg4000]

When you get to be as old as I am, you will all be cynical too!
Marg

 

[Alex P Keaton]

ohhhhh 4.3 haha

 

[james_w]

seems an ok price for a block in brunswick. although with the median for units at 450k I would try for a larger discount not much change aft all costs at 430k each

 

[Belu]

Advantage try and buy these and sell them off seperately. They try and make $12.5k each unit but if they cant get it off the ground they need to sell it as 1 lot.

Or they are just acting for the seller on normal comms

 

[Belu]

i like the fact that it has Brad Teal's floorplan though!