We looked at three different retirement village lots in Qld. One of them was through Cameron Bird. We asked the sales person how much they made, I think it was $15000 per lot (or unit?). That’s a fair bit and their lots were the dearest but it sounded safe and hassle-free as far as tenants were concerned, and had a small positive cash flow. Capital gains may be modest also.
They emphasis that their village management will be through a church group with good connections to the community – a good idea. However, check out their catering and linen cost – it appeared to be double what others were charging.
Also, financial institutions appear to be wary of these properties – ours will only lend up to 65% on this property despite the valuation being close to purchase price.The rest is secured on our own home equity.
We ended up going with someone else because we got a better deal.
We felt, after research, that these were a reasonable first-time investment idea (especially psychologically – fisrt time is scary) that is low risk, with modest returns. What do others think?
In API mag Cameron Bird advertise heavily, on back cover and inside. They claim that the following deals are a snatch:1. $195000 for 2 fully furbished units that net 6% – returement village proped up by Govt funding for secure rental return & large depreciation ($36142 in first 5 yeas and $143475 over life of property)
2. Cash flow positive properties in a “regional city” 4br at $345000 fully landscaped allotments etc
Like a friend of mine always says, “it reads well”, which is a provate joke between us. But seriously, Id like to get into QLD market.
Anyone got any info on this company?
Jars
]!). I’m Victoria based and using members equity home loans (Aus. wide).
]!). I’m Victoria based and using members equity home loans (Aus. wide).
