Hi All,
I’m going over to cairns for 4 days (feb 8th – 12th) to look at the area and a few properties I’m interested in.
It’s all bit of a ‘rushed’ trip and without any experience of ‘interstate” investing I’m alittle concerned to say the least;) The trip is rushed due to a few factors out of my control so I can’t really delay it.
Can anyone give me some tips on how to prepare for such a trip, eg what research can i do before I go, and what research I should do when I get there?
I guess any tips would be helpful!! I’m doing as much research on the properties of interest, though I wondering what else I can do before I go?
Any help would be appreciated!
cheers
Wayne
Wayne Leech
http://www.WaynesGuide.com.au – Accommodation in Western Australia.
List your holiday home for FREE!Hi Wayne,
I just did the same thing in Qld – rushed through over 20 props in 2 days! Anyway, here are some tips.
1) Call an agent & book a specified amt of time with him. I found 20 mins per prop was sufficient. I organised appointments the Wednesday before I flew up & that was when they were most receptive. (I booked 16 appointments on the Wednesday in 1hr 15 mins & wasted 2.5 hours on the Friday to get 3 more). I used Outlook to keep track.
2) Take lots of pics. Then take more. Then lots more. You may only be there once so better to take more than less. At the start of each house I would take a pic of the front of my rental car so I could differentiate between props. Also, take pics of surrounding houses/views.
3) Take lots of notes. Anything you think is important. There’s stuff I wrote down that I can’t remember writing down that has swayed a yes/no decision on a prop.
4) Google Earth is your friend. Use it to ascertain proximity to shopping, schools etc. Just remember that sometimes the images are 2 or 3 yrs old in Australia.As Neil Jenman states DONT SIGN ANYTHING get independent valuation and independant solicitor not the ones refered to you by the promoter.
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Wayne,
Here’s a link to a post I made earlier this week where you can download the Qld Govt population report.
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=26777
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Hi All,
jambv – Thanks for the feedback:) sounds like you know what your doing to look at that many props in 2 days!
Yeah I was looking at cairns through Google earth – it’s a great tool for this type of thing!
Did you end up buying a property?duckster – yeah I’ll be very cautious when it comes to the signing the dotted line!
Cheers Amanda – just the type of stuff I’m looking for:)
Wayne Leech
http://www.WaynesGuide.com.au – Accommodation in Western Australia.
List your holiday home for FREE!I suggest the following:
1) Get a copy of a standard Contract of Sale before going so that if an opportuntity does arise and you are identify a bargin and you want to make an offer, that you know exactly what is in a contract and what is not. It’s very different to a WA contract of sale. + it has a 5 day cooling off period, you can get valuations done in this period, and cancel the contract if you are not happy.
2) Take a navigator if you are driving yourself around.
3) Find out what the Council rates and body Corporate fees are if looking at units. These can vary significantly and form a very large chunk of outgoings.
4) pay for a recent sales report. 12 or 24 months, for the 4870 postcode.
5) I don’t think you will find may open houses on Sundays as is the case in WA. Go and enjoy youself on that day. Do a cruise out to the reef or something.
6) make sure you have a drink at hand, it’s probably going to be hot.Mal
Getting out of your comfort zone, can help you become comfortable
Hi Mal,
Cheers for the advice!
Good point with the “Contract of Sale” – where would you recommend to get this?
I’m probably going to stay clear of the units etc, looking at some houses, or blocks of land.
The recent sales is a good idea:) I just had a look at reareports.realestate.com.au. That postcode you gave me – is that for all of cairns? I’m interested in particular suburbs within the northern area of cairns…. in this case should i just get a report for each specific suburb of interest?
rgds
wayne
Wayne Leech
http://www.WaynesGuide.com.au – Accommodation in Western Australia.
List your holiday home for FREE!Wayne,
Give an agent a call, and ask for a contract on a particular place.
I suggested 4870 because, sometimes its cheaper to order reports by postcode, and 4870 covers a big chunk of cairns. Here is a list of surrounding postcodes/ suburbs.
4868
Bayview Heights, Mount Sheridan , Tarrawarra, White Rock, Woree4869
Bentley Park, Centenary Park, Edmonton, Mount Peter, Tamarind Gardens, Wrights Creek4870
Aeroglen , Barron Gorge , Brinsmead ,Bungalow ,Cairns City , Cairns North ,Earlville , Edge Hill, Freshwater, Kamerunga ,Kanimbla ,Lamb Range ,Manoora ,Manunda , Mooroobool , Parramatta Park ,Portsmith ,Redlynch ,Stratford ,Westcourt ,White Rock , Whitfield4878- 4879 are the northern beaches Yorkeys Knob, Trinity Beach, etc
Mal
Getting out of your comfort zone, can help you become comfortable
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