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  • Profile photo of mickstuthmickstuth
    Participant
    @mickstuth
    Join Date: 2010
    Post Count: 5
    January 18, 2014 - 3:29 am

    Hi Henry,

    I did a lot of on the ground research, inspections and attended auctions for around three months specifically targeting Wandal, Berserker and Park Avenue. I was looking for a renovator. At the time (pre election), It was a real buyers market and there was plenty of scope for negotiating. Yields were around 6%+ as well. My situation changed whereby I couldn't get up to do a lot of the work (3 hours away) if I bought and the rental demand lightened suddenly due to mining industry changes. I still like the town as an investment target but will be looking at Bundaberg now as it is closer to Agnes Water. There's heaps of older places there with scope for improvement and good yields. Just do due diligence regarding flooding of course :)

    Profile photo of mickstuthmickstuth
    Participant
    @mickstuth
    Join Date: 2010
    Post Count: 5
    May 28, 2013 - 10:14 am

    With the recent drop in the AUD and HSBC predicting the year to end at around 90c AUD to the US, this can only help tourism reliant areas. It may swing the flow of tourism keeping Aussies choosing to holiday at home increasing job growth. The predicted growth belt is supposedly within 10kms of the new Kawana Health Precinct due to be completed in 2016. This will bring in numerous workers with higher than average incomes to the area. I agree…avoid units altogether unless you really know the market!

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