The Gold Coast has a lot going for it, and there are always tenants looking for properties to rent. Any area has its positives and negatives, even if there is an oversupply of units for sale, if you pick the right unit to invest in you will never be without a tenant.
tanner892 wrote:I've been looking into apartments of which there are very many in the Gold Coast, resulting in very cheap prices but still with decent rental yield,<snip>
As this is my first investment, does anyone have any major obligations against investing in an apartment in Surfers Paradise?
Hi Tanner,
When looking at yield make sure you look at net yield – one issue with GC apartments is the possible high body corporate fees that are attached with each apartment. So while you may see something advertised with a 'good yield' make sure you look below the numbers to see what the net yield is.
We are currently looking at some GC properties currently in receivership. The initial run through on the numbers makes them reasonably attractive but we are currently looking into the key detail; comparable sales, bank valuations, vacancy rates, strata fees, council rates and rent return as part of the due diligence process.
If you do end up investing on the coast make sure your eyes are wide open and that you have looked beyond the fluff associated with the coast.
Didn’t want to start a new thread. Thoughts on Highland park and surrounding areas?
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