Buying multi-units and selling them individually

[James Scholz]

Hi team,

I've found a 24-unit student flat for sale near me that seems to be a pretty good deal.
I was wondering if anyone has had experience in buying multi-units on a single title, then dividing them up and selling them as individual units?

The reason I ask is that I have to repay the deposit within a set timeframe, so am planning on selling off most of the units in order to pay back investors and will be left with a handful of units free and clear.

I'm in New Zealand, so the detail around the laws and requirements are probably quite different - but I'm interested in everyone's thoughts and experiences and what potential pitfalls you can see.

i.e. setting up body corp, splitting titles, how selling multiple identical units affects the price etc.

Thanks for the help!