All Topics / Help Needed! / thinking of buying apartment in a 4.5 star resort for either holiday rental pool or permanent rental.

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  • Profile photo of LisrikLisrik
    Member
    @lisrik
    Join Date: 2010
    Post Count: 3
    April 21, 2010 - 1:02 pm

    Hi all,
    has anyone aad experience with this? Its in Turtle beach resort Qld.

    I notice lots are for sale. there.

    any info you can offer would be appreciated.
    Thanks heaps!
    Lisa

    Profile photo of Ryan McLeanRyan McLean
    Participant
    @ryan-mclean
    Join Date: 2010
    Post Count: 547
    April 21, 2010 - 10:21 pm

    Steer clear unless you know a lot about this investment. Niche markets like resorts are risky.
    Often banks won’t lend you more than 60-70% and if the resort goes belly up what will you be left with, a tiny studio room in an empty resort that you can’t rent or sell to anyone.

    Not saying you shouldn’t do it, just be very careful and well educated.

    Ryan McLean | On Property
    http://onproperty.com.au
    Email Me

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