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Hi Goldeneye,
I would not wish to tell you what the values are at Burleigh but having lived on the Gold Coast for 30 years now, at Nerang, it seems to me that unless this unit has seafront views and is 50m to the sand it might be a little high in pricing. Couple that with your other comments regarding the sale, expected rental return and I would be suspicious as hell.
As Benny pointed out, the pricing might be a bargain in Sydney but on the Coast it seems high to me for just a unit at Burleigh. Shop around a bit.
On the philosophy that Steve runs and as a new unit it might be difficult to add value and therefore increase profits.
Tread carefully.My solicitor, my accountant and my financial planner all seem OK with the thought of a corporate trustee of a trust. The advantage that I see is that you are able to invest through the trust which can then be passed on to the beneficiaries of your will, when the time comes, by simply changing the Director(s) of the company, meanwhile you get all the advantages of the investment and the costs will be well off-set against the overall gains. You will get to pay company tax however which may be less than your personal tax anyway and you can distribute any profits as you see fit. You can also appoint share holders and distribute profits through that mechanism if desired.
Thanks Corey. I am heading toward leasing with an option to sell and our agent seems to think that the smaller (100sqm) style of industrial units are more marketable in this area, either as lease options or flipped. It does depend on the economic environment however and my impression is that the current environment on the Gold Coast has scope to grow over the next couple of years. After 2018 (Commonwealth Games) I’m not sure.
I’m Gold Coast, so I guess that’s kind of regional albeit so close to Brisbane it’s sort of a satellite city. Yes, I see this as an opportunity to value add especially as there are plenty of older units around, built in the ’70’s and ’80’s, that have not been touched since. The inevitable problem is trying to find a whole group coming up for sale and them still being on the old titling system. I have seen it but that was a couple of years ago at which time I was committed elsewhere.
