Nothing noteworthy or new about landbanking. it is a waste of productive rural land for the purpose of speculating n rezoning & windfall profits pushing farms further away from their markets & increasing the cost of fresh produce.

If you are talking to the selling agent, forget it – all is rosy (deduct about 20%). Talk to a property manager either from that same agency about vacancy rates, demand, waiting lists etc or preferably speak to a PM from another agency and say you are looking to either lease out a X bedroom refurbed house or looking for a rental and what range you would be willing to pay.

CUT is a federal tax, Land Tax is a state tax. If you aren’t living in it on census date you pay land tax.

There are specific requirements with regards to the developer appointing a strata manager once a % of the building has been sold. They will also be required to establish the sinking and admin fund, so you are not out of pocket for a heap of extra $$.

Are all of the units being sold off or will the developer hold a controlling interest?

There may be cause in this instance to have a building and pest inspection done to safeguard your own interest (ie what does the owner know that isn't being disclosed, is there major maintenance required? Possibly check with some of the tenants you see living there, they may know of issues that the owner hasn't addressed.

I would suggest speaking with your solicitor about the requirements of the vendor to establish a BC and make adequate provisions for R&M in the sinking fund.

You might consider getting a buyer's agent to do some quick research and if necessary attend the auction to bid under your instructions – eg if you have a set limit give them an instruction up to 85-90% of that amount so you still have some leeway if the auction may swing your way.

I'm pretty sure that one has been there for quite a while. The thing to remember with this sort of property is to have your exit strategy before your entry strategy ie risk management.

One other thing to watch around the area is to know which sections of Ingham flood every time they have a cyclone.

I've called mine "God's waiting room" but seriously 1 & 1a works for me. If all else fails, there is information on the Austpost website.

Good area, previous govt has shifted a few departments up that way to shore up votes – so there is plenty of work. Mines are kicking ahead but watch out for effects of carbon tax on coal miners/power generators.

Hi QM, follow my linky thing to my blog – quite a few commercial property topics there to enjoy.

Not a myth but many agents are reluctant to do one-offs, would you for a couple of hundred $?

Iniyially it is often worth having a pm just so you can see what is involved. It comes into its own when finding a tenant, managing arrears, repairs, or a bad tenant at the tribunal.