Hi all
To cut the story short, my partner and I attended a seminar held by a property investment company followed by their expo. They made it sound so easy. Owning a property, pay off $400k mortgage within 15 years odd, get second property within 2 – 3 years.
We were particularly * sold * when they advertised Keppel Cove. http://keppelcove.com.au/ Near the coastal line, $157 billion injected into the infrastructure, Gladstone being number 1 property hotspot with 0% vacancy, $800/ week rental etc
But I have read forum topics whereby property owners in Gladstone and Mackay & Yeppon suffering from low tenants and property rates declining. Supply way over demand basically and I am quite concerned over the rental market.
I could really use feedback and valuable insight (Preferably those who know Qld’s property market) on whether Keppel Cove / Capricorn Coast is worth investing.
Really concerned and much appreciated for anyone who can contribute to my question.
Hi all
To cut the story short, my partner and I attended a seminar held by a property investment company followed by their expo. They made it sound so easy. Owning a property, pay off $400k mortgage within 15 years odd, get second property within 2 – 3 years.
A property seminar that makes it so easy? wow! please don’t be sold, please do your due diligence on the people running the seminar, be free to drop their name here and see if anyone has experience with them and if they have a track record of success. I don’t invest there, however, please be careful before you proceed.
Cheers, Ivan
Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
http://redwoodadvisory.com.au
Email Me | Phone MeSMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS
the only advise I can give is you would be buying for long term capital growth as the rents are not $800 . I have been suckered into a deal like this my purchase price 432,000 valuation dropped to $380,000 the company got a discount to 412,000 still very short I had to get every bit of equity from my other property the rents I was quoted were $550 before buying now iam in talk’s with property managers and iam hearing $380 a week is maximum I will be getting so be very careful some of these company’s are bloody arseholes ….And when things go bad they give a shit about you
Well, seems there is a trend in investing in QLD.
The company is called Asset Financial Services and they used Wealth Build Australia for their documents. Anyone heard about this company before?
In general the only people you can trust in property or business are the ones who make money if you make money.
Almost everyone else will sugar coat everything. Therefore the data they give you will be highly biased. You will have to do your own research to determine the risks and rewards involved and then decide if it’s worth it for you.
Andrew
superAndrew | Property Analyser and Finder Tool
https://property-analyser.com.auSearch the Forum posts, I remember someone mentioning a few weeks ago they bought off the plan in Gladstone, and now is time to settle and they have to settle and it’s a purchase at a loss, because values have fallen after coal market declined. I noticed receivers were recently selling Rusty”s Motel in Gladstone, now rebranded as an Econolodge by Choice Hotels (budget category), so looks like someone bought it. Might be worth talking to.
Good luck
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
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