Forum Replies Created
Ok, here’s a few:
One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.
– PlatoIt is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.
– Theodore Roosevelt.Science is the belief in the ignorance of experts.
– Richard Feynman.“Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.”
– Arnold Schwarzenegger“The person who says it cannot be done should not interrupt the person doing it.”
– Chinese proverb“Be wary of the man who urges an action in which he himself incurs no risk.”
– Joaquin Setanti“The most difficult struggle of all is the one within ourselves. Let us not get accustomed and adjusted to these conditions. The one who adjusts ceases to discriminate between good and evil. He becomes a slave in body and soul. Whatever may happen to you, remember always: Don’t adjust! Revolt against the reality!”
– Mordechai Anielewicz, Warsaw, 1943“Sometimes it’s better to light a flame-thrower than curse the darkness.”
– Terry PratchettGood for you. You buy the place?
BTW, you might like John Pupavac, of BPI Gold Coast North. Great inspector, thorough, explains everything well, does building and pest, doesn’t mind if you pester him later with questions. He’s done a few for me.
All the best, and good luck!
Well, things look like they’ve jumped at Canungra. Thought so. :P Still achieving 4.8% returns (1), and only 2 properties currently for sale and not under offer listed under $400,000, though one does look like they’re chasing substantially more (2). Properties there have been going under contract in days.
Oh, I was on about Kingaroy before. The Coopers Gap Wind Farm nearby got their environmental approval (3). Has to be good for the area. Looks like jobs could be on their way there!
1. (http://www.realestate.com.au/invest/house-in-canungra,+qld+4275)
3. (http://southburnett.com.au/news2/2017/03/big-milestone-for-coopers-gap/)
Hm. The tenants you get will do a lot to determine whether it’s a good or bad investment. Can you get good tenants and a good agent if you pick the bad area option? If you can, then good. If not, even with insurance, dealing with a trashed house is likely to be a pain in the rear end. Which option do you think will have more capital gain? How do rental vacancies compare?
Just a few thoughts. Good luck!
Would be interested in this myself. :)
Hm. Don’t forget to take stamp duty into account. A Queensland fellow I spoke to in a pub likes to buy a property about once/year, live in it for a year to get the relevant (reasonably substantial) stamp duty concession, tidy it up whilst in it, and then either sell it or rent the property out whilst buying another one and doing the same thing. Maybe not what you have in mind. You might be interested to check out the Gold Coast; still relatively cheap and a bit seems to be happening there. I think that subdivisions, building units etc. might be a bit ambitious to start on, particularly if you have limited capital, but I could be wrong. Good luck!
Further to my previous post, the proposed new coal mine near Kingaroy is preparing its environmental impact statement, and the proposed new wind farm near Kingaroy is having its environmental impact statement assessed. If either goes through, it means lots of jobs for Kingaroy (what will this do for rents and property values?). Lots of property currently for sale there, and even now returns well over 5% (http://www.realestate.com.au/invest/house-in-kingaroy,+qld+4610). Worth a look, methinks.
http://southburnett.com.au/news2/2016/06/2017-start-for-wind-farm-project/
https://www.statedevelopment.qld.gov.au/assessments-and-approvals/coopers-gap-wind-farm.html
https://www.statedevelopment.qld.gov.au/assessments-and-approvals/south-burnett-coal-project.html
Actually, this is interesting… up to 350 new construction jobs in the Kingaroy area if this goes through. They’re hoping for a 2017 start of construction. Kingaroy township only has a population of about 8,000 people [1], and is currently returning about 5.81% [2]. What would those extra jobs do for property values and rents in the region?
https://www.southburnetttimes.com.au/news/kingaroy-wind-farm-reaches-final-approval-steps/3117303/
[1] http://tourism.southburnett.com.au/townkingaroy.htm
[2] http://www.yourinvestmentpropertymag.com.au/top-suburbs/qld-4610-kingaroy.aspx
Thanks people. I’ll think on it further.
Now, Beenleigh, on the other hand…
Well, apart from a few places that are still under contract, the only house in Canungra currently advertised under $400,000 seems to be a house and package, not a pre-existing house (It states “From $395,000”. That’s if there’s any left at that price, I suppose. http://www.realestate.com.au/property-house-qld-canungra-123670534). Apart from that, according to http://www.realestate.com.au, there are 17 houses for sale currently not under contract at time of posting, and the cheapest has an asking price of $499,000. Most of these seem to be either on acreages, or at least large blocks. The low end housing seems to be pretty scarce on the ground now.
I think the boat may have been well and truly missed.
Just as an update to my previous post, a few properties recently came on to the market in Canungra for under $400,000. They were sold fairly quickly. Only 18 houses there for sale and not under contract at time of writing, according to http://www.realestate.com.au/buy/property-house-in-canungra%2c+qld+4275/list-1?includeSurrounding=false&misc=ex-under-contract&activeSort=price-asc&source=location-search
Cheers!
Originalsinner.
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This reply was modified 7 years, 8 months ago by
Originalsinner.
You make some valid points there. I should have restricted my statement about there being a severe shortage to clarify that I mostly meant the low end of the market. I was mainly talking about your standard house on a small block of land, not acreage, and not luxury. Even including those though, there seems to be less for sale than usual, and sales currently appear to be rising according to the link you posted. Just my thoughts.
Regarding the area, it seems to me to strike a good balance between (barely) positive cash flow and potential for capital gain. It has proximity to the Gold Coast, there has been talk of future development a few minutes down the road at Aquis Farm (previously Patinack Farm; search for Tony Fung if you’re interested), and the fundamentals of the suburb seem solid. Regarding rental demand, they say it’s pretty good here: http://www.realestate.com.au/invest/house-in-canungra,+qld+4275 Alternatively, try ringing some agents there and see what they say. In any case, these are just my thoughts, I’m not suggesting other people should rely on what I think.
What is the lemon suburb you mentioned, if you don’t mind me asking?
Canungra looks like it has a severe shortage of houses for sale at the moment, particularly at the bottom end of the market. At time of writing, they have 30 houses for sale, and 7 of those are under contract. Only one of those still not under contract has a price under $400,000. Supply and demand… Looks like a solid area with rental demand.
Beenleigh seems to be doing ok but seems in a bit of a lull at the moment. I hear there is infrastructure planned there, including a new shopping centre with a cinema, according to the internet (http://gassman.com.au/projects/era-beenleigh/ and http://www.couriermail.com.au/questnews/logan/beenleigh-skyline-set-to-undergo-dramatic-changes-after-logan-city-council-approves-highrises/news-story/354e2dac8353ae7496c19291aa831f84). Cafe culture is on the rise, new coffee shops, town square etc. Rates are a bit steep though, and you kind of need to screen your tenants carefully. Returns for houses should still be around or over 5% at the moment. Anyway, just my thoughts.
Let’s say they don’t present the offer. What recourse do you have?
Thanks man! Meant to reply sooner but became sidetracked!
I take the valuations of net based research tools with a grain of salt. Don’t know what algorithms they use, but they’re definitely inaccurate on some I’ve looked at. They are useful for sold prices and dates though.
Just my thoughts; obviously seek professional advice etc…
Maybe check out Logan. Beenleigh is doing ok but seems in a bit of a lull at the moment, and I hear there is infrastructure planned there. Cafe culture is on the rise, new coffee shops, town square etc. Rates are a bit steep though, and you would need to screen your tenants carefully. Returns for houses should still be over 5% at the moment.
Alternatively, Canungra is near the Gold Coast, and there is word that Tony Fung has big plans for Aquis Farm (formerly Patinack Farm) 4 minutes down the road. Nice town, houses around 4-5% rental return. Rates aren’t too bad.
Broadbeach seems to have some reasonably cheap units at the moment. This is in the Gold Coast, which will probably be affected by the Commonwealth Games there in 2018. No idea of returns, just looks interesting.
Good luck!
Check out Beenleigh. Seems to be a bit happening in the area.
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This reply was modified 7 years, 8 months ago by
