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I'm surprised there are falling prices in Mackay, let alone 10% in 6 months. I thought Mackay was one of the hotspots in central QLD. Is anyone else seeing the prices dropping in Mackay? Is it happening across the market i.e old and new construction, houses & apartments?
Hi Desilucky,
Why don’t you buy in towns in regional QLD that are benefiting from the new coal mines in the Galilee and Bowen basins. With all the infrastructure expenditure occurring and continuing to happen over the next several years, then the property market will almost certainly go up. A GFC2 will affect the capital cities more however these regional towns will only feel this temporarily. There are cash flow posi properties out there and all interest would be tax deductible. As long as you feel comfortable buying a property and renting it out instead of living in it yourself. Would only need to use half of your savings for a deposit and stamp duty. It’s just another way of looking at property investing.
Cheers
Hi All,
I have a question in regards to purchasing properties 10 to 20% under market value. Who would sell their property for less than what it's worth on the market? If a property is sold through a real estate agent (which most of them are) and that agent sells below market value then he is not doing his job. If anyone was to know a property's value then that would be the local real estate agents as they see properties bought and sold every week.
Would you source these deals through deceased estates? Are there websites which show these sales?
I would be keen to hear peoples views on this.
Cheers
Hi All,
I just have to ask the question, why would you use a company's services to purchase a property? Why not just purchase a property yourself using an independant solicitor? At least that way you remove any risk of someone ripping you off. Are they offering property for very litlle or no upfront deposit? If so you would have to question whether you are in a financial position to purchase in the first place.
Thanks All,
I was hoping for a reply last year. I ended up using Direct Negotiations which I found using google. I bought a 3 Br house in Christie Downs for $255k, with $270pw rent. Agents fee was about $5k.
Cheers
