All Topics / Help Needed! / WHAT TO DO??

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  • Profile photo of ginnybearginnybear
    Member
    @ginnybear
    Join Date: 2005
    Post Count: 3
    March 16, 2006 - 3:19 am

    Hi, We are about to invest 220K into a unit that is essentially a holliday unit in Coffs Harbour, its in a holliday place, its not new, and is reasonable in condition. Its returns are not fantastic, but we wold hold our own so to speak. This is right across the road from the beach, although because of trees it comands no views. Its in a block of about 40 strata units.

    The other choice is an older home in Coffs Harbour, about the same money, that needs work.
    Any suggestions about what is a better bet, should we go the house, and rent it and fix it, or go a unit across the road from the beach.

    Thanks
    Ginnybear

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    March 16, 2006 - 3:40 am
    Originally posted by ginnybear:

    Simon Macks
    Residential and Commercial Finance Broker
    ***NODOC @ 7.15% to 70% LVR***
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of roborobo
    Member
    @robo
    Join Date: 2003
    Post Count: 155
    March 16, 2006 - 4:59 am

    Hi.,
    There is a lot for sale around Coffs at the moment, prices have definately dropped. I wouldn’t be rushing in. There is always plenty of units around. A house for 220k though is harder to find.
    Robo

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