I’m a single mum and have equity in my home and am trying to educate myself in regards to real estate. I have been looking at the Mackay beach area and have found a house for $120 with rental of $190. I am wondering if anyone knows if the area up north will give me a good return over the next 2-5 years? I am a bit cautious about taking the first step. I have spoken to real estate up there and people who live there and it sounds promising…any held would be great!
Hey Sunnigirl,
I am wondering if anyone knows if the area up north will give me a good return over the next 2-5 years?I’m guessing that you’re talking about capital gain returns? ie – when the value of your property rises?
This is very difficult to predict without a working crystal ball. Who knows what the property market will do in two years time? The Reserve Bank may raise interest rates tomorrow to slow down the property market.
However, if you’re looking for an area which is going to rise, there are a couple of indicators which investors use. Some people look for historical figures for example, or infrastructure developments in the area. I know Steve McKnight looks for an area under transition – as he talks about in Fast-Track.
By the way – never trust a snowshoe salesman to tell you whether or not it’s going to snow. Always do your own research. Education is a vaccination for poor-decisionitis.
Good luck with your investing
Brent
From one Sunnigirl (I live on the Gold Coast) to another!!!
Welcome. Try logging onto the Mackay Council site, don’t know the link, but they usually have town planning, historical data, etc… which may help you.Cheers big Ears!!! Susie.
try http://www.dlgp.qld.gov.au you put in your town and search it shows a little bit of info.
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