Forum Replies Created
Julian
Ive waited to see some experienced comment myself so you may have to settle for my limited knowledge.
I have a couple of blocks of land in the “new Noosa” Agnes Water/1770 which is above Bundaberg Qld. Land is good but pays no bills, “luckily” thay have appreciated considerably allowing us to build a Hoiliday rental house.
You are correct with every thing you have said, more costs, more work, then why do we do it? Cause we make more money.
In our case if we had just built, and rented out we would have got approx $200-$230 a week for permanant. But as a holiday rental it varies from $650 to $1000 a week. So it only has to rent half to quarter of the time for the same income. although there are extra costs involed they are generally proportional to your occupancy, i.e. agents fees are per rental, power,water and wear and tear more, the more its rented.don’t forget linen, a local laundry service can pick up and drop off hire ‘sets’ i.e. a double set will have sheets towels, face washers,teatowels..There will much difference in income depending on location and property style. If you have commanding ocean views you will be first to rent, or if further back the last, this needs to be realisticlly looked at and your booking agents will have opinions, which should be listened too.
Keeping the place rented is obviously the key.. so you may have to be creative in how this is done, You may need to make your property stand out from the crowd, by its finnish,or comfort level. bright colours inside etc. Offer packages like meal discounts with local restaraunts, you bring buisness to them and they give discounts to your guests.
Offer the booking agents incentives, bonuses if they exeed booking numbers, etc.
Naturally there are things to look out for. Insurances, public liability, damage, dare I say it, dodgey booking agents.(had a case recently were a person was told that there property could not be rented, for over a year… so turned up from interstate to find some one in there house, friends of an agent….woops)
Think out side the square for bookings, we have made our place so you can bring all the family pets (very rare and much sort after) kennels for dogs, cat run, even (if you can beleive it) stables for horses or other large animals. Because we are not on the beach front we needed something different, and now we promote directly to all animal clubs, and via vets etc.
The property is also totally self sufficient, Solar power (enough to run three houses) 90,000 litres of fresh water. Solar hot water, gourmet kitchen, theatre system, etc… so a little extra to help keep it full. Sorry to go on…
SO yes, extra work for extra results.
Having said that you can buy of the plan units from developers with “garanteed” incomes. some good some bad.
Hopfully this give you some food for thought, sorry to go on.Coast
Shelly.
firstly you should be asleep now, as making millions in realestate is exhausting work.But you are probably to exited to sleep??
But as youve asked and I have no life, hears my two cents worth.
The big thing and I hope the more experienced out there agree, is you have to plan for what goes wrong… and it will eventually.
By that I mean you need to have the funds and the time to hang on this property if it does not go to plan. Your bank manager and solicitor are the people you need to make your best friends, as with out them we are all in trouble.
There are also tax and stamp duty issues that can take the shine of a good deal,but again your friend the solisitor can help.
Your solisitor will also help with the wording of the contract, which is very important and will vary depending on what state your in, I gather your south due to time difference, in Qld most contracts are done with out solisitors until the contracts are signed and all negotiating is by real estate agents, thats fine till you have a deal like yours.Were I’m going is. if the owner thinks they are underselling because you have a contract that states you wish to sell it while not owning it yet… they may not sign or even may put the price up.. (I’ve seen it).Some times you have to be subtle…Just some thoughts untill the more experienced get up from there beauty sleep.
Good Luck
Coast
Hi guys.
I’m fairly new to this forum, so what just happened here??[blink]
Did we cross wires or is there undertones I’m not seeing here!!Coast
Guys.
We are having a Kit home completed as we speak.
Elected to have it built by a builder which is not the norm, but had no time to do it ourselfs.
Nice three bed low set, good verandahs and a bit of style. http://www.bushandbeach.com.au
This being built at Captains creek not to far from Bundy approx 1 hour. its just short of Agnes water 1770. they are made just outside Noosa so not far for you Michael to travel to see some example Lukis P may just have to look on the net.
As for prices they always go up on the next quote, but ours was approx 65 for th kit and just under 100 to finnish works out to approx 1000 a square which is not cheap but cheaper then 12 to 1400 a square we were being quoted by local builders. This is my second favorite subject right now as we are trying to get the roof on by Christmass, so if you have more questions ask here or email direct. my favorite subject is the 12 comercial acres I trying to develop in the same area. Know any one who wants a woolworths site plus a service station next door??
Wish me luck.Phil.
Thanks GP
Have had a quick look at the threads from somersoft.
As you mentioned quite old and a bit misrepresented, although I’m a little bias as we have been very happy with CG from there, and it gets better every day.
The place has gone ahead leaps in the past two years, and as the somersoft thread mentioned it has appeard to be a rich and famous play ground although they are investing there not just visiting.
Grant kenny and Co. are currntly building $50+ Million unit complex. Mike Myers has a multi million dollar private estate that is very eco friendly.
MIJO from Sydney have spend over $350 Million buying up property (incluiding an airport site) and are to build 114 beach front units,and more.
What realy is required there now is a litle more infustructure development, better shops more restaurants and accommidaton for the normal people (there is shortage of rental property).
I could go on forever but I’m here to ask for thought not give my own nieve and bias ones.
Many thanks again for any thoughts or if you would like more bias info please ask.
I have heaps..
Coast
