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Cameron Bird are a real estate agency. This is disclosed in the advert.s in Magazines like Australian Property Investor etc.
Luke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.auzucan,
You could also try real estate agencies and scouring websites like domain.com.au for the right property for your circumstances.
I say be wary of spotters. A licenced real estate agent should be well trained and is bound by law to provide a fair professional service.
Good luck!
Luke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.auWe have an article published in Queensland Lifestyle & Property Magazine (REIQ publication) written by a respected accountant which should answer your questions.
Keep an eye on http://www.plproperty.com.au in the next couple of weeks or email our office.
The article will be published in our June newsletter and on our website soon.
As for the OSR duty rebate – I suggest you ask your solicitor for further advice! No doubt they will be happy to help.
Luke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.auAXJ – you can depending on individual circumstances.
Speak to your accountant about this as soon as possible if you own investment property.
Luke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.auYou may also wish to factor in property management & letting fee’s should you choose to use a real estate agency to professionally manage your investment.
If you haven’t already – talk to some of the local agents to get a run down of PM expenses you could reasonably expect.
I don’t know if your miscellaneous expenses include local government rates etc.
You need to also factor in purchasing costs which will include: legal fee’s, gov.t stamp duty, loan stamp duty, loan establishment costs,
The building being 25 years old, you should engage a builder or architect to inspect the property. Also I would recommend a pest inspection. (more fee’s)
Hope this helps.
Luke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.au‘foundation’ – though your post is dripping in sarcasm, I am happy to share more information with everyone.
Reflections is located on the beachfront marine parade at Greenmount in Coolangatta. The development is world class so it is obviously not going to be cheap. The two towers are nearly completely sold out – many to owner occupiers who currently live in the region and are in touch with the market conditions.
Gold Coast beachfront real estate has shown extraordinary resilience to the slowing market conditions.
Two bedroom apartments remaining from $850,000 as at 3 June 2005 would conservatively expect permanent rental of 620 per week. Holiday letting is another option with weekly tarrifs in high season expected at around 3000 and 1000 in low season.
A Gold Coast Accommodation Market Analysis (12 mths to dec 2004) is available from http://www.gccc.com.au The report details occupancy rates, takings per room/night etc. Coolangatta (reflections) averaged 72% occupancy yearly.
‘One of the strongest trends outlined in a recent report issued by the Australian Bureau of Statistics is the massive trend toward lone person households expected to grow to around 13% by 2026 which equates to just over 3 million people. Currently there are around 9% of households with single occupants (around 1.8 million people.) Not only that but, according to the research, evidence shows that once somebody in their late 30s or in their 40s goes solo, often through divorce, they are likely to remain on their own.’ Source: Michael Yardneys Property Investment Update http://www.metropole.com
‘foundation’ that sounds to me like a lot of potential tenants or purchasers for one bedroom lifestyle apartments.
I hope I have given you some useful information as that was the goal of my original post!
Luke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.auMy response – I don’t have much time but here are a few random thoughts for everyone.
In all fairness, you should add a list of the potential concerns of buying off the plan…This is why purchasers conduct due diligence – to alleviate concerns & mitigate risk.
*Property overpriced in the belief that property values will have increased by the time settlement comes round.I don’t know where you have been looking but we are currently selling new property for 32k less than asking price of comparable properties that are > 8 years older
*Property usually cash flow negative.That obviously depends on many factors.
*Developer/property manager/builder can go bust leaving investor with a defective property and no way to recoop money.We only deal with reputable developmement companies (most are public companies regulated by ASIC)
There are still some good deals off-the-plan, but investors need to research current market prices, the developer, the property managment company, the builder, rental potential, etc thoroughly to ensure they are not ripped off. Under no circumstance should one believe the brochures, websites, or salespeople.I agree! Like any investment, a prospective purchaser needs to conduct thorough due diligence. This way there would be far less investor ‘horror stories’ which could have been easily avoided with some academic research.
Luke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.auWe have compiled an extensive list of resources, that we consult on a regular basis, that you may find helpful.
http://www.plproperty.com.au/queensland_property_links.html
We, at Pacific Lifestyle Property, have a particular bent on sourcing reliable accurate and trusted research so investors can make informed decisions.
Luke Woollard
Licensee
Pacific Lifestyle Property
http://www.plproperty.com.auSavvy investors will also realise the positive effect the plan will has on land value on the Gold Coast.
Luke Woollard LREA
Pacific Lifestyle Property
http://www.plproperty.com.au
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