Yes, we all have dreams.
We returned from the gold coast, after a 2 week break yesterday and it was wonderful.
We stayed on S.Stradbroke isl on a package, beautiful unspoiled beaches, no ugly developements.
we then did some house, chickens and cat sitting for a friend in canungra (foothills of Mt. Tambourine).She has 6 acres!
We spent one day looking at property, drove thru Nerang, Coomera, Helensvale, sanctuary cove (lunch), Runaway Bay.
unfortunately, there has been this absolute price explosion.The suburbs set back from the coast, are just that, a suburb anywhere.
I am sure very hot in summer.
There are a no of lifestyle/water side developements, land prices start at $350.000 to $500,000.
we looked in the r/e window at runaway bay, no houses under about 700,000, one house was selling at 7 million.
I have no idea who can afford these sort of prices.
We gave up at that stage.
On the last day we looked at Canungra, the agent told us, anything around 200+ just walks out the door.
There is a small new estate (30kms from the gold coast), we found a 6 year old house with swimming pool and absolutely every comfort, we brought it for 250,000, we expect a rent of about 250 p.week, no problems at all with rental vacancy.
Even this area has had a cap gain. the current owners purchased this home in Oct. last year for $215.000.
It’s not cash pos., but I think cap.gains will continue and we hope to live there in 3 years, when our son finishes school and consider semiretirement.
We would like to buy a boat and just do a bit of crusing.We hopefully will have a sea and mountain air change that way.
The home is low mainten. on 600sq.m block.
No body corp.
We did buy a lovely mirvac apart on main beach but ended up selling it last year, as the cost of rates/body corp was reaching $7000 per annum.
It was tenanted, in a residential complex.
By the way, growth rate to south QLD is huge, I’ve been told, although 150 go back.
They come from NSW, Vic and S. Australia.
Cap. gains is bound to continue increasing with that sort of growth rate.
Well, now it back to Melb and cold Feet!
Also back to tenant etc issues.
Oh well, hold onto your dreams!

I’ve been to a few of his and other seminars, great to start with and helps to give you the courage to actually make a move.
I am now suffering severe seminar fatique and we are well on the way with investments, so it has served a purpose.

If available, check body corp minutes of the meeting and sinking fund, any major structural issues?

my account organised all ABN’s for each trust and GST registration, if relevant.
I think you can register the trust for GST.

send a formal complaint to the R/E institute.
I did, when I was totally overquoted by the local R/E shonk to get the listing.
He was fined a paltry 2,500 and because basically it is also run by R/E agents, I was not awarded anything, the fine went into the R/E institutes pocket.
Consumers? what lights?, oops rights.

Weatherboards tend to have more land, which is what we look for.
They are easier to renovate and tend to have more character.
Apart from that, I don’t think it matters that much, unless all the weatherboards have gone rotten!

I am booked to seem him in a few weeks time, at the recommendation from this forum, and he lives not far from me.
My current account I’ve now had a few years and he is ok, but slow and does not think outside the square.

I am trying to get hold of the book.

A good rental manager is worth their weight in gold.
They check the property, know all the rules, up the rent to market, pay some of your bills for you.
When things go well its fine, its only when things go wrong, which can happen quickly and badly, that you might wish, you had one.
Things are kept at arms length, there is no emotional involvement.

This is my strategy in outer east Melbourne:
Buy approx 1000 sqm land with the house to the front and side, to allow for enough rear access.
try and get the house in good condition, as renovating is very expensive and bloody hard work.
Rent out the house.
See a good local draftsman/woman, architects are far too expensive, unless its an upmarket area.
Before you buy, you can ring town planning and they will instantly give you info on whether its a goer. Knox council and Yarra Ranges are willing to send you guidelines if you can understand them.
we now have five such properties, potential profit before tax 500,000.
If you build the house, it will be cash flow positive, because you have brought the land at wholesale price.
Allow 10,000 for devel. costs and some loss of value in the front house.
You need good cashlow and patience, it can take many, many months.