I am on the Gold Coast and am yet to purchase my first inv property . I have looked at small units in complexes that give a reasonable return , but I feel would be restricting in both capital gain and who/how you have in it . I would greatly appreciate any tips on the subject of pros/cons of size of dwelling . It would also be great to recieve any feed back from any one with knowledge of the gold coast and surrounds . Cheers
Roger,
The first issue is size. Anything under 50sqm is harder to finance. This may not be an issue for you but it will affect the potential market when you decide to sell.
Serviced Apartments are in a similar boat.
Hope this helps a little.
Simon Macks
Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Roger,
When you say reasonable return – do you mean in terms of nett yield or capital gain – or both ??
What benchmarks have you set for yourself ??
Have you found IP’s that meet those benchmarks ??
Cheers,
Dazzling
“Go hard or go home”
Hi Roger 1
I am on the coast and to be honest have not been able to find anything that comes close either. Look around Southport, Surfers Paradise etc and there are literally hundreds upon hundreds going to hit the market over the next few years.
I have been keeping an eye on some of the older places in Southport. As the redevelopment proceeds you might pick up a well priced unit for on-selling to a potential developer but even a lot of those are gone.
Look for small complexes with only a few (up to 4) older units in an area near these developing areas and you might do okay.Try for at least a 2 bedroom as they are easier to rent. Usually renting them out is not a problem near town but the older places attract some questionable types sometimes.
Chevron Island isn’t too bad either for your return but it is all -ve cashflow. I think on the coast at the moment the only real opportunities are properties to be re-developed-depends how long you want to wait
markk
Happy Hunting
http://www.kentscollections.comIn regard to size of dwelling – take Mortage Hunters advise, it can often be difficult to lend against a small property. Not too mention reducing the size of your tenant pond as small homes only appeal to a small market.
Pete
…Beware of the dreamtakers…
BTW – I was part of the MAP Program and am more than happy to answer and questions/comments you may have – Happy Investing…
Hi we live on the Gold Coast also, we have worked in the new home market for many years. I doubt if you will find any positively geared homes here, try looking at areas a little further out, we are about to start and are not seriously looking on the Gold Coast.
Maeve[suave3]M.F.Hollow
Thanks for feedback !
Hey guys,
just on the topic of Gold Coast property, I read an article recently suggesting that the market is trending away from seaside properties, due to the price of them being so high that people simply can’t afford to buy. Instead the potential is that the trend could move to hillside communities inland (rural, but still reasonably close to major cities)
I’m just starting in the property scene, so i’m not sure how much credit to give this idea, but I’d be interested to hear other people’s thoughts on the idea.
Cheers all,
Craig.
Hi, just wanted to let you know, I did the Masterclass in Melb today which in a nutshell was excellent. I recommend you do the class ASAP like when it’s in Brisbane or at least read both Steve’s books, especially his latest cos the mappers are very inspiring (not to mention Steve). To do any or all of this at the minimum, you will then be educated that profits are made not found, so where you buy becomes irrelevant, because they can be found everywhere, so go for it… Don’t limit yourself to a particular area, a particular strategy, or a particular property type. Let the above recommendation be the can opener to open your mind to the multitude of positive CF deals to be created. Happy problem finding & solution creating…Positivewiz[biggrin]
Here here to positivewiz’s comments. I also attended the Master Class today and you will learn heaps from it. It will turn you from a property speculator to a property investor, that is one who invests with skill not luck.
Once again, here here to positivewiz’s comments.
Regards
TigerHey all,
and another HUGE thumbs-up from myself on the Melbourne Masterclass today. Highly recommended to anyone. Learned lots of new ideas that stretched my context, expanded my horizons, and inspired my to re-evaluate my current situation and investment philosophy (not that i’ve actually bought anything yet).
Look forward to meeting some of you again in August for the next one. [thumbsupanim]
Cheers all,
Craig.
Just while we are on the topic of acquiring a +ve cashflow properties in southeastern corridor on Brisbane, I recently bought a property and made it from -ve cashflow to +ve cashflow but asking my rental manager to rent out each room individually (managed by rental manager and also bought landlord insurance). Sometimes, you may find that in a low social economic suburbs, renters are open to the idea of sharing with complete strangers as long as the age gap is not too large (that’s my opinion).
Cheers
johnIf you want my rental manager in QLD, can you PM me.
Cheers
johnWant to join financial independence before 31 years old, currently 25
always ask questions. Is this area growing or declining?
How fast will the city grow and in which directions?
Would I like to live here myself?
I am not a real estate guru, but I can share you some tips.Several general principles will guide you as you invest in real estate. First, become very familiar with your local real estate by studying properties on the market. You may want to learn all about your particular city, is growth patters, its depressed areas, where the path of growth is likely to exend. The point is: The more you know, the more prepared you will be to invest. You can talk to real estate agents for these information.
A good opportunity always goes to the investor who knows how to locate a good investment and who has the courage to act quickly.
Seize the day
We are giving away the free reports and audio files by Robert G. Allen for the next 3 months. You can email me for the free reports and audio files.
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