Forum Replies Created
HI there,
An easy way is to call a few pool companies putting in new pools in the area and see if they would be happy to dump the newly dug up fill in your pool space.
This can/has been done, just needs a little organsation!!Give it a go!!
Good luck!
Sorry everyone,
Is this just a joke?
The book shops in Cairns have never heard of the book, this forum isn’t selling it and there is no other mention through google etc….[weird].
Someone help!!!!
Thank you!
Thanks for the replies. We have done a reno before and are looking at all the cosmetics again we’re happy enough with all of the basics, but this time looking for something more.
This particular place is 4 bed 1 bathroom and has a large laundry which seems to lend itself to being converted to a bathroom, but that’s a bit more major than the cosmetics we’ve done before.
From our research and understanding, once someone is looking at 4 bedrooms; 2 bathrooms is more or less expected too, hence we’re looking at adding that extra bathroom, but need to hear from someone who has done that particular reno.
We’ve also been told that in this area, a 4bed 1 bath rents for $270-$280 whereas a 4 bed 2 bath rental starts at $300! Sales also seem significantly higher priced ($20 000+ more for the extra bathroom)
Any suggestions????Hello all,
You should look at some of the southern Cairns houses.
Whiterock or Edmonton have houses around $230 with rent for $250, you may pick up a bargain.As I have said before, we live up here and there aren’t any ‘bad’ areas compared to bigger cities!
Send us a message if you want more info.
[exhappy]Hello,
We live up here and have a 2BR townhouse in Edmonton. There has been decent growth and the returns are comparably good.
I wouldn’t touch the centre of Cairns and there are some dubious areas but in the southern coridoor, (nappy valley)I would say go go go!
A trip to Cairns is always a good thing.
Have you seen the new Esplanade area? The plans to expand both south and north of Cairns centre are also exciting!We love it here if you haven’t guessed!
Any other questions, just let us know….
Hello,
What made you choose Manunda? It’s a colourful area with LOTS of appartments and even more coming online in the city centre.
We live in Cairns and feel Jill Croft is an agent who is proactive and helpful if you need a suggestion.
Are you local or have you invested up here much?
[rolleyesanim]
Don’t give up yet!
I think compared to Melbourne/Sydney there are often better yield properties at a lower entrance point to the market up here.
The areas you mentioned are areas with potential and sitting on a property here is easier on the gearing than elsewhere from our research.
Or perhaps, we just live here and look through paradise tinted spectacles!
PS Who is Ed Burton? (pardon the ignorance)
Hello,
Right up our neck of the woods.
Also, Bentley Park, not Bentleigh Park!
These areas are in ‘nappy valley’ and have undergone big growth recently. Land value has close to doubled in the last few of years. Property here seems to be plateauing as houses are sitting a few months rather than days as three years ago!
I would say it would be very difficult to find the positively geared properties you wrote about but because of better rental returns it is good.
In your list, I would say Brindsmead is the least likely to have options, but you never know.In my opinion, you generally need to be careful of city centre units/appartments because of future overdevelopment in Cairns and the up down nature of seasons in terms of sales and renting.
I am very interested to hear from anyone up here in Cairns or other people who are investing up here.
It’s great to be in paradise, we’re happy to talk F’n’Q with anyone who has doubts or a love of the area!
Hello,
I would love to speak to Dallasm more if you live in Cairns- we do too! There aren’t many people up here that we’ve met who are switched on enough to think seriously about investments (gross generalisation!)
Mission beach is beautiful- but the boat in terms of immediate growth is definitely out as per previous message.
We should be settling on a property up here next week and are excited (buy reno and sell style)- just a plumbing issue to sort out.
I’m interested to follow this thread if others care about F’n’Q
We’re from up here in F n Q- Cairns.
Does anyone else live up here or only invest here?Would love to hear from anyone Townesville or North…..[aacool]
I would agree with the last post in regards to mortgage brokers.
They really know the options, but would ask “what makes a good mortgage broker”?
For us, the service we received was excellent during the set up and purchase, the goodies hamper after a nice touch, but then not so much!
There were questions which only our bank seemed to be able to answer and how quickly do people expect to hear back from questions to a broker?
How long does the aftersales help last?Is it bad to suggest that usually your current bank can help you (and is sometimes your best option)? and why would you choose a mortgage broker over your current bank who you can ask directly when questions arise.
I understand how busy banks can be and how limiting one bank can be in relation to larger numbers of property investment.
How good are brokers in early stages of investment?
Certainly they are great initially to give options and pose questions but……. ?Thanks for the replies,
Don’t worry about doom and gloom, realism is a useful tool.
We hadn’t thought of the power for tradesmen!
I think the $40000 is an overestimation and would include everything, although I appreciate anything is possible!
As I said, we wouldn’t attempt this one but as an excercise it is interesting.
I think $165 is more than the reality it will sell for.
What percentage/mark up/selling price would make this worthwhile for “YOU”?
We had thought of asking the realestate if they would pass our details to the person who finally buys it and see if they would mind sharing their journey (assuming they are an investor!)and allow us to learn more.
Nothing ventured, nothing gained?What do you think?
Thanks for the reply!
$40 000 may be more than the reality to renovate.
Is the margin between money spent and made in a flip such as this not worthwhile?
How much would people typically expect to make doing this in the current market?
I know it’s case by case, but generally?I’m interested in similar cases or how people view termite damage and have made a success story? Do you really have to be a builder/carpenter to make this work?
Any further views?
We go through Wayne Park First National in Edmonton. They have been very helpful and prompt in responses.
Slight technical difficulty- Sorry!!
I actually wondered about residential zone 3?
We are in Qld and are interested in this kind of investing.Are there any stories from people who have done it?
Thank you for the patience![rolleyesanim]
Originally posted by skyeboy:Hi Joseph,
I am looking at properties all over NSW and SE Queensland and have been on many Council Websites.
I just thought that somewhere one could find a simple index of what each code was. What about on the Blue Mountains Council web site are you able to locate it there as it is a Web site I looked at yesterday?Thanks for your help.
Skyeboy.
Thanks for the replies and song (At least I got a response from the title!)
The idea of buying and adding value/minor renovation appeals and this is obviously easier close to home.
I believe that close to home is a viable option (for us) and am interested if many people buy lots in one area they believe works, or if feeling is that this area will then be flooded.
Alternatively should it be the not too many eggs in one basket (or is Australia one basket and should we be looking at a bigger picture?)
I agree the figures matter most, but INITIALLY learning to add value, dealing with tradees or simple DIY is enticing.
How have others geographically split their portfolio?
Thanks
so has anyone actually made a will with some kind of trust set up for their children who are not yet old enough to deal with the IPs?
How does a trust like this work ?
Thank you all!
Especially byronent for both wills and gains!
If it really was this easy we wouldn’t need this website and all the interesting questions!!
See you again…
Sorry for any overlaps!
Can anyone help?
Can simple will kits cope with IPs that need managing and children who aren’t old enough to manage them?
DO you need to set up a trust? How do they work?[/font=Courier New]
