Morayfield worth investing in?

Actually…

Just an update on that… that property in Morayfield was sold already….

But still, what’s your opinion on that property based on my description?

Is yours an off-the-plan project with 400-500 sqm land too or is it a proper 600-800 sqm land property?

How did you find such low prices? When you say “do your own research”, what method did you use to find such properties?

Just a few moments ago, I typed quite a lengthy reply to someone else about how I think research using data that are easily accessible to general public is not consider a good idea in my opinion.

My exact wording was:

—————- snip —————-
My primary concern is that I am not really a fan of “competing against public”, because that would mean too much competition.

What I mean is that for example, imagine you are applying for a job, you can go to SEEK. The problem with that approach is that you can go to SEEK, so can I, and so can anybody who is applying for a job. So more often than not, those jobs on SEEK attract so many applicants that chances are you CV ends up in HR’s rubbish bin without being read properly. But if the job application is fulfilled by internal referrals, then the candidate faces far less competition and is in a much better position to negotiate salary than if the company has 10+ candidates to cherry pick from.

While the situation with Realestate is different applying for a job, but the concept more or less still applies. If you can find a good deal in “for sale ads” section of a paper, then so can anybody who reads that same section. Likewise, if you see a good deal on domain.com or realestate.com.au, then so can everybody who visits those websites. When everybody fights for this good deal, then this good deal quickly turns into a bad deal due to everybody is attracted by that deal.

So to me, looking at information and deals that are easily accessible to general public is a big no no. I want to learn how to fish out those “hidden deals”…
—————- snip —————-

So did you somehow fished that deal under the tip of the iceburg? Or was the information regarding to that deal easily accessible by general pubic but everybody else chose to ignore it while you saw the potential in it? I am very much interested in what method did you use to fish that deal out of the dark if you purchased it “off the market”.

P.S. I live in Melbourne, so hard for me to get local deals in QLD.

Hi Jaxon

I was going to quote your post, but accidentally clicked on “report”. I apologize for that. So I will quote you a bit differently:

esearched literally all of australia, studied suburbs when I found properties that stood out,

So you mean you looked at literally and indiscriminately every single suburb in 1 state and repeated the whole process for all 7 states in Australia? How long does it take you to accomplish that?

looked at the SQM area reports
That looks like a paid service. I can’t imagine you paying every time you want to look at a suburb though…

Also, when researching an area (for example, let’s say you are researching into something in Gold Coast), what information or data did you use as a “source of truth”, and what aspect of the information did you particularly look out for? Some I can think on top of my head include: is population raising, are there nearby infrastructure and facilities, whether that area has more home owners or more renters, whether it is close to a train line, if that area has good public schools… anything else?