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Pretty interested to see it move either way.
If you are a smart property investor you win either way. With higher capital growth comes less opportunity to buy again, but higher rental yield from existing properties as they increase in value. A downturn in prices in the market just provides an investor with more opportunities to buy again.You run into trouble if you don’t have any margin for market movement in your portfolio.
Happy days if your building wealth responsibly and have margins in your life.
James MRD | MRD Partners
http://www.mrdpartners.com.au
Email Me | Phone MeMRD provide ethical property investment expertise that drive long-term wealth creation
This is a very ‘how long’s a piece of string’ question…
We have done what you are thinking of doing on your Melbourne block, to a block we own on the Gold Coast. It cost us $290k x 2 for 2 semi-detached units that where 3 bed x 2 bath.
We sold one for $420k. Retained one and get $440 p/w rent. We used Metricon builders. Your best bet is to approach a builder, you’d be surprised how much work they will do for you (costing-wise) before you even commit. Our builder pretty much all but laid out turn-key contracts for us so we knew every expense we were up for, before we even signed or committed anything, just so we knew how much it would cost.
James MRD | MRD Partners
http://www.mrdpartners.com.au
Email Me | Phone MeMRD provide ethical property investment expertise that drive long-term wealth creation
Yeah great focus area, Brisbane CBD. Check out this article this week from John McGrath – http://m.couriermail.com.au/realestate/news/john-mcgrath-identifies-the-property-golden-triangle-to-buy-now-for-capital-growth/story-fnihpu6h-1227377900326
I own on the Gold Coast and am seriously looking in Brisbane 10km radius also!
James MRD | MRD Partners
http://www.mrdpartners.com.au
Email Me | Phone MeMRD provide ethical property investment expertise that drive long-term wealth creation
How did you go with this…? Did you end up making a decision? I’d be interested to hear how it works out if you go ahead with it.
James MRD | MRD Partners
http://www.mrdpartners.com.au
Email Me | Phone MeMRD provide ethical property investment expertise that drive long-term wealth creation
Did anyone read John McGath’s article in the Courier Mail this week about SE QLD…? What is everyone’s thoughts? Is SE QLD the spotlight for the next 3 years or not..?
Personally I feel like its a far more long term strategy than he makes it out to be. Its hard to see the GC ever boom like a capital city. Especially when the local government is knocking back those casino and cruise ship proposals.
James MRD | MRD Partners
http://www.mrdpartners.com.au
Email Me | Phone MeMRD provide ethical property investment expertise that drive long-term wealth creation
