markintownsville wrote:
My thoughts on Northshore is that there is too much land available in the immediate area.  There are too many new houses for sale of a similar standard, on similar sized blocks, making them a dime a dozen and causing capital growth to be poor in the immediate future.  Also, I have found yields to be quite low compared to…[Read more]

steve.t wrote:
My last broker opened a bank account in my Name that was in negative $ for 3 months of fees. I was shocked when I got a statement from the bank

I cracked up when I read this.

My broker usually pops around with a bottle of rum, I think he's hoping I'll grab a couple of glasses and some ice.

JacM if you come for a visit I'd be happy to show you around, if I'm available of course, currently working month on month off in Gladstone.

Also for non locals, Townsville and Thuringowa were separate municipalities with their own councils and the area was referred to as 'the twin cities'. The councils merged in 2008.

JacM average annual growth over the last decade has been around 10%, dependant on area of course.  Prices are still down from their peek around 2008, rental market is very tight as population growth is surging ahead.
I disagree with the comments about an oversupply of units, you must bear in mind that Townsville has a larger than average…[Read more]

RPI is probably the person you need to talk to, refer this post
https://www.propertyinvesting.com/forums/general-property/4347101

jmsrachel wrote:
Speaking of text msgs, my tenant texted me last night (sunday) at 9.45pm because she wants the globes changed from 60 to 80 watts. What cheek!

haha! Why not reply with a drunken text at 3:30 am informing her of a rental increase. 

I think you're on the right track- definitely Gulliver, hermit park and west end are likely performers.  I am very hesitant on Kirwan due to the large indigenous population and the crime and social problems that come with it ( I certainly wouldn't like to live amongst it!!).  North ward I see as overpriced but also seeing potential there in old…[Read more]

I think you're on the right track- definitely Gulliver, hermit park and west end are likely performers.  I am very hesitant on Kirwan due to the large indigenous population and the crime and social problems that come with it ( I certainly wouldn't like to live amongst it!!).  North ward I see as overpriced but also seeing potential there in old…[Read more]

Oh and 5 years at 8.54% !! That's incredible

Also, I would not get a valuation on the property from your current lender as it sounds possible that negative equity might be realised (property worth less than the amount owing on mortgage) in which case the lender could put their hand out for a lump sum to bring the LVR to an acceptable level.

I'm a duplex fan, have just bought one in Townsville ( I see u too are in Townsville), great yield, less risk if reliant on rental income as unlikely to have both units vacant at same time.  I am in the process of strata titling the property.
Let's talk about the Townsville market, thoughts on market in general? Specific areas or property types?…[Read more]

I'm a duplex fan, have just bought one in Townsville ( I see u too are in Townsville), great yield, less risk if reliant on rental income as unlikely to have both units vacant at same time.  I am in the process of strata titling the property.
Let's talk about the Townsville market, thoughts on market in general? Specific areas or property types?…[Read more]

Minimise costs and go for it! 

You need to educate yourself and buy in a location based on your own research, not what someone tells you.
If you watch Steves November market update he advises against Nras and defence schemes, and almost against Vic altogether lol
Determine what suits you personally and how much risk you are comfortable with

Look at it as a good thing- You buy at today's contract price, but don't have to pay holding costs for six months.

Thanks guys, Shahin the units share a driveway and carport

If he's growing "herbs" at your house, there's a fair chance he's also smoking them there.
This is more than enough grounds for eviction in my books, however you would have to give him 30 days notice in writing I believe.  

I recently made a purchase without seeing the property, I was away working at the time and the numbers were quite impressive so I negotiated a deal and got it over the line, all happy days.  However the building and pest inspectors I used I have a rapport with from previous purchases and they were happy to give me their honest, detailed opinions…[Read more]

Thanks Terry, my conservative estimate is 83% LVR after strata, and as I have taken a fixed rate, cannot pay down the principal to reduce LVR.