frangypani replied to the topic Advice please in the forum Help Needed! 10 years, 2 months ago
Thanks for the advice – I will definitely explore holiday letting Benny and I think the prices have levelled out in Port Douglas now so maybe prices will start to gradually climb which makes me feel a bit better about the opportunity for capital growth. It just feels like such a doozy of an investment but I know that others are in a much worse situation.
frangypani replied to the topic Advice please in the forum Help Needed! 10 years, 2 months ago
Thanks for this. So do you think the best strategy is sit and wait for a few years in the hope the market picks up?
frangypani replied to the topic Advice please in the forum Help Needed! 10 years, 2 months ago
Yes insurance is very high…but this is as low as we could get….it used to be over $3000K per year with the bank who wanted to up it to $4K a year! For some reason you say Port Douglas or FNQ and the figures jump unjustifiably.
frangypani replied to the topic Advice please in the forum Help Needed! 10 years, 2 months ago
I think we’re safer getting regular cash flow from a tenant and we’ve have to tart it up a bit if we were to rent it out as a holiday let. It’s rented unfurnished at present. But does have potential possibly for a holiday let as it’s got a pool, 3 bed/2 bathroom. Insurance is $2300 per year, shared driveway upkeep is $600 per year, council rates…[Read more]
frangypani started the topic Advice please in the forum Help Needed! 10 years, 2 months ago
OK…we bought an investment property in Port Douglas last year with an idea to eventually retiring here or using it as a holiday home. It is negatively geared and is costing us all up $8K a year. The positives are that it’s in the four mile beach zone and has no body corporate being freehold and has been rented out continuously so far. It cost us…[Read more]
frangypani became a registered member 10 years, 2 months ago