Hi good people,
I was curious to see if there is anyone on the forum from Far North Queensland?
Mr Crocco and I are in Weipa, but some Cairns contacts would be fun!
Cheers
Mrs CroccoHello Mrs Crocco
I was in Cairns until last September, we rented at Clifton Beach.
Am now in Bundaberg and enjoying slightly less humidity.
Hope you had a great X Mas
Ron
Hi Ron,
I had a great Chrissy, thanks. I’m curious to know if you invested in Cairns while you were there. Apparently the market has taken off in the last few months.
Cheers
CroccoUnfortunately I didn’t have the property investment bug while I was there.
My family home in Brisbane that we vacated in 1995 & rented out following a work related transfer went backwards in value and stagnated for some 11 years, so I didn’t think we were in a position to buy any property.
The house we rented in Clifton Beach, we paid $310/week and I remember seeing a sign saying House & Land packages for $180,000, so probably wouldn’t quite stack up to +cf.
Would imagine however that capital gain would have been considerable.
The property manager we had was Luke Banfield at Cairns Beaches Realty. His mum & dad looked after sales.
If you do a web search on Carns Beaches Realty you will find their contact numbers.
They may be able to update you on what is happening in current market. Their specialty is the northern beaches area.
I have noticed a lot of advertising in the API magazine on +cf properties in Cairns, however forgive me, but I am a little sceptical about them.
What does your property investment consist of at present?
Thanks, Ron
Hi Ron,
We’ve got two properties in North West NSW – ones 100 acres, bought in 2000 and the other is 500 acres, bought mid 2002. The first one earns agistment, and the second we run our cattle on. We’re very lucky to have my father to keep an eye on things there for us.
We’ve made few mistakes with our two properties, but we’ve also had a few wins. Its all learning!
Rob works in the mines up here in Weipa (as most people do). We’re looking at investing in Cairns next year, but won’t be rushing into anything – I think I still have a lot of learning and research to do!
Rob came home from work last night and told me that one of the contractors he knows has been investing for years, and has 13 properties in Cairns. He must be doing something right! So we’re going to have him over for a meal, and see how he feels about doing some mentoring. Are you familiar with that saying – when the students are ready, the teacher appears – I’ve a feeling he might be our man.
Do you find API a worthwhile magazine? I haven’t seen it in our newsagency here, but can probably order it in.
Cheers
CroccoHi Crocco
Does the ajistment income work out to be more than your costs?
Yes, lets hope the teacher has appeared.
This person with 13 investment properties wouldn’t happen to be an ex fireman by any chance?I enjoy reading the API magazine (Australian Property Investor).
It has some great informative stories, but I particularly like reading about other peoples successes.
It costs $7.95 per edition, which comes out bi monthly.
You could subscribe for 12 months for $79. (however this method works out more expensive….can’t understand that?)
You could order by phone 1800888788 or visit their website http://www.apimagazine.com.au
I would have a talk to the local newsagent & see if they can get a copy ordered in for you.[/list]Anyway, enjoy the new year festivities in Weipa….we are in the process of moving house, then head off for a weeks holiday at Caloundra, which will hopefully be a well earned rest after the move.
Cheers, Ron
dragon, that subscription is probably for 12 issues – ie 2 years worth. That’s what I just paid when I resubscribed for 2 years.
Cheers
MelHi Ron,
I went down to the newsagency today and found a copy of API – thanks for the recommendation. Looking forward to jumping onto the BusinessMall website and getting some books.
Good luck with the housemove, and have a great holiday.
Cheers
CrocodileThanks Mel & Crocco
Ron
Hey Croc,
Even though of investing in Weipa? Hear they are expanding the mine and will need new homes for the extra personnel.Hi Queenslander,
Goood question! To be honest, if i’d known about positive cash flow properties 12 – 18 months ago, I may have considered it, but probably wouldn’t have. I’ve heard of a few people (two, literally!) who took the plunge before prices inevitably went up, and now have good +ve returns.
Here’s some of the reasons why it would fail my due diligence:
The towns’ population, even when combined with Napranum, is under 5,000, its still a mining town, so there’s issues around there being no local council per se, power is produced by Comalco which may become a problem if the town ‘normalises’, and Comalco itself is very cyclical in nature. 10 years ago the workforce was over 1200, and by 2000 it was down to 450. Now its going back up, but with time, a new cost saving regime will be introduced and the workforce will be pared down to the bone again, there’s even been rumours about changing to fly in-fly out (just a rumour), and there’s no property manager now… It’s a funny old place, Weipa!
I could go on, but this probably gives you the general idea!
Cheers
Crocco
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