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  • Profile photo of frangypanifrangypani
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    @frangypani
    Join Date: 2014
    Post Count: 5
    September 4, 2014 - 9:29 am

    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.

    Profile photo of frangypanifrangypani
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    @frangypani
    Join Date: 2014
    Post Count: 5
    August 28, 2014 - 11:00 pm

    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?

    Profile photo of frangypanifrangypani
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    @frangypani
    Join Date: 2014
    Post Count: 5
    August 28, 2014 - 8:31 pm

    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.

    Profile photo of frangypanifrangypani
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    @frangypani
    Join Date: 2014
    Post Count: 5
    August 28, 2014 - 8:21 pm

    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 $3500. Yep, hoping capital growth will be the answer.

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