Forum Replies Created
The guarantee sum is 520 net for a year. Body corporate and insurance and council rates borne by me. Other than that we pay for finishing the unit which comes to about 20k. They are able to provide the guarantee as they explained because they are confident of the holiday rentals happening at least at 70 percent occupancy.
When we bought the apartment there was no discussion of such packages and this gives me comfort that the guarantees are not part of the purchase price. Also they are leaving to owners to choose. There is no guarantee if we go with the permanent rent route.
Thank you Richard and benny for your replies.
I have thankfully received valuations which is the same as the purchase price and all being sorted in terms of mortgage.
Yes onsite managers have purchased the rights. And they could manage the property either by letting as holiday apartments or as typical permanent rent. They are only providing guarantee if on holiday rent as they are very confident that letting as holiday apartments would not be a problem.
They had not mentioned about insurance for the furniture.
The initial outlay for furniture and fittings is not sitting well with us given the uncertainty of future costs.
Broadbeach was when we bought we understood that It would be attractive to working professionals and small families. Broad each is away from the touristy areas. I note your views and most grateful. However, We are already committed and we will hope that this investment pays off in the future.
Thank you again.
Hi,
May I ask how you secured your deposits for your first ip being so young?It’s extremely admirable with what you are doing. What had inspired you to even think of buying your first property?
Thank youRichard for your response.
Thank you again Richard.
What about the Broadbeach area. I have told there are some good investments, particularly given the new convention centre, infrastructure and other development.
May I ask for those actively involved in property investment, as rental is a source of maintaining the property. What happens when there are cash outflows? How does one sustain? Where I live, people tend to buy for capital gain , as rental hardly ever covers repayments to the bank.
Another question, after paying the initial deposit, are we allowed to exit? Maybe foregoing the deposit as a result?
Thank you Richard for replying.
It was the kyc documents. Being overseas there was confusion on who authorised persons can be. It has been stressful getting it done.
It’s an apartment in St Lucia. What are views of Gold Coast? we were advised that surfers paradise area may not be a viable investment option. Although that depends on our objectives.
Just read steven’s article on property in Australia showing signs of a downtrend. This is worrying as this is our first investment.
