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.

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?

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.

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]