I am still in the learning curve of property investing. Currently a developer introduced a lot of house and land packages at Caboolture (about 50km from Brisbane) — a 300-400 square meters of land plus a 3 bedroom house (to be built) at lower $300k. And the developer will offer one year rental guarantee. My questions are:
1. Is there anyone here with investing property there? Is the rental market there strong and still booming?2. Is it a must to go to the city you plan to invest in before jumping in?
3. Is it a big idea to get a IP through a developer or its agent or I have found one on my own?
Thanks for reading my list of questions and any comments or suggestions are welcomed.
That is a small block.
Rental guarantee is not worth much in the whole scheme of things – don't let it distract you from what is a long term investment.
Ask yourself why is this being marketed interstate? Surely if it was a great deal it would already be gone.
I strongly believe that if you learn and know your own market well you will find better deals than from far off …
All the best
Simon,
Thanks a lot for your advice. As I live in Sydney, it's hard to find an affordable investment property here, and a lot of ppl are talking about south east Queensland and NZ lately…
Best regards
Sally3 Bedroom brick and tiled with ensuite, built-in robes and double lock-up garage on about 300m2 yes these properties are selling in the low $300,000s.
Yes there is strong rental demand for these types of properties around $300 per week.
Many investors are in a similar position trying to source this type of property in Sydney or Perth not easy if not impossible. Marketing to Sydney investors is a norm for projects like these. Sydney investors were buying houses in similar fashion 10 years ago for say $80,000 they've all done pretty well it seems. Long term propositions.
I have seen many of these recently and most of the data seems pretty reliable. Always pays to do you're own homework and making a visit to an area is well worth the few hundred dollars it'll cost in airfare and car hire.
The golden rule is land content. 300m2 is the norm for these new low density areas but generally speaking 600m2 is a standard for a residential block.
Does the property meet your investment needs?
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