Forum Replies Created
Sure Benny I’ll try to make best of this situation and hard lesson not to fall again to this new OTP stuff.
Thank you for the input and suggestion.
SiteManager
Investing for a better future
Again it is important to do your due diligence. That means checking to see what properties are selling for. If you buy without at least checking the price it makes it difficult
@nigel-kibel Well I guess they’ve just tricked me to buy this property for the sake of Tax benefits / Depreciation purpose.
Hence I can only wait until 10 yrs before it is Cashflow Positive.Because the suburb is close to the CBD hence it will increase in value for sure according to them.
SiteManager
Investing for a better future
@redwood yes, I thought that they would’ve selected the best price and location for me but somehow it is not for quick CG or even CF+.
I guess it will be long time 10 years+ before it is becoming Cashflow Positive :-|
SiteManager
Investing for a better future
Hey @sitemanager – in short I was about to send off same reply as Adnie Frangers gets way more publicity but I just did a quick review and house median is significantly lower in Werribee, 325k vs 399k gross yield higher also(4.64% vs 4.29%). Both have general potential long term I am a big believer in satellite towns off capital cities. Possibly Werribee wins for value and yield at this moment in time? Really it comes down to your belief about infrastructure growth and other drivers for future desirability and population expansion. This will impact more down the track.
Can I ask why VIC specifically? If you are in NSW there are also plenty of equivalent options outside of Sydney also.
All the best!@knightm, well the reason is because NSW is already expensive mate. Hence I’m looking for another state for cheaper option but with more population growth potential.
SiteManager
Investing for a better future
Cool, that does make sense @adnie
I’m in NSW so that way might work as you suggest :-)SiteManager
Investing for a better future
Yes, based on what they are available here in Sydney NSW, Todd Hunter is the man you are after.
He’s got some valid suggestion in directing my investment need in COOMERA and ORMEAU area. Not many people knows about those two places until now it gets more popular due to Disneyland and Westfield mall development.
SiteManager
Investing for a better future
Id like to know more information as well on this area as im flying up there to check out potential house and land packages within the month.
Hi @gladi8tor,
I believe now it is the good time to consider COOMERA, UPPER COOMERA and ORMEAU as the next boom suburb in QLD because of these two big developments:
Westfield Mall development http://www.coronis.com.au/blog/a-decade-of-planning-sees-coomera-flourish
Those two big project has been eye-ing this area so it would be better to buy existing house with larger land component so that you don’t get hit with high upfront investment cost in new H&L package.
SiteManager
Investing for a better future
Hi @henry,
I believe now it is the good time to consider COOMERA as the next boom suburb in QLD
Westfield Mall development http://www.coronis.com.au/blog/a-decade-of-planning-sees-coomera-flourish
I’m sure those tow big companies have done their due diligence to invest multi billion dollar in the area.
Any thoughts and comments on this suburb will be greatly appreciated.
Thanks.
SiteManager
Investing for a better future
and now the Disneyland will be built in COOMERA area: http://www.news.com.au/travel/travel-ideas/family/new-billiondollar-theme-park-to-rival-dreamworld-to-be-built-by-chinese-developers/news-story/ec83e943b9fc3aae9c50d80689cc5850
This area will be booming soon I guess ?
Can anyone please clarify if this is correct or confirmed.
SiteManager
Investing for a better future
Hi There, would really appreciate local people thoughts who are familar with the Upper Coomera suburb. Around two years ago, I had purchased a brand new three bedroom home from the devine property developers (link provided below). Since, im in Melbourne I dont get to see much updates on the area. I was thinking of selling the place as the property has not increased much at all, im looking to build up equity so I can purchase another Investment Property. Furthermore, from my research there seems to be an oversupply of property there at the moment and 4 bedrooms seem very popular there as well. I know there will be future projects going on in the future eg the New Coomera Town Center. But personaly, I cant see this will make prices sky rocket. Another side of me says keep it, and see what happens in another few years time. But maybe I should just sell, and purchase somewhere where I could afford that has a higher demand. Also, can you see property will at least double within ten years there? What are your thoughts? Furthermore, purchased my place for $316,000 and currently getting around $310 rental.
Thanks,
http://www.devine.com.au/coomerasanctuary/location.htmlI think this year is the good starting year for COOMERA due to the two big development in the area as follows:
Westfield Mall: http://www.coronis.com.au/blog/a-decade-of-planning-sees-coomera-flourish
Surely those two big companies won’t randomly select the area in COOMERA hence it is the good news for investor and occupier alike.
let us know how you go with it. I’m all ears for any comments regarding the COOMERA, UPPER COOMERA and ORMEAU progress.
SiteManager
Investing for a better future
It happens heaps, but often the other way around. Accountants may tell a client they can claim something when they cannot. This is very common with interest. Probably half clients that come to see me are probably claiming more than they are entitled to, while the other half is claiming less.
@terryw in the case for the Accountant over claimed what cannot be claimed, who’s fault is this when the client gets audited by ATO red handed ?
SiteManager
Investing for a better future
@benny yeah that’s what I was thinking, because COOMERA has been dormant and so far I heard good plans only this year.
I must admit that COOMERA has been spruiked since 2011 and hopefully this time it is started to be come profitable.
SiteManager
Investing for a better future
We have signed a contract for the purchase of a brand new duplex property 3br/2ba in Coomera – Lily Estate. We have just received the date of the cooling off period so we have a small window to opt out.
Can anyone comment on this as to whether it would be a good investment — thanks.I think next year will be a good start for COOMERA and surroundings, because Disneyland will be built in COOMERA area: http://www.news.com.au/travel/travel-ideas/family/new-billiondollar-theme-park-to-rival-dreamworld-to-be-built-by-chinese-developers/news-story/ec83e943b9fc3aae9c50d80689cc5850
Once it is fully built, the property price in COOMERA and UPPER COOMERA area will be greatly increased like crazy.
SiteManager
Investing for a better future
Hi there
I’m new to this forum and looking for my first investment property. I’ve heard about the tax benefits of buying a new property but want to stay under $400 000. We’ve seen one that’s 5 – 6 years old, in Upper Coomera in our price range that we think is a great deal. (Radically reduced) Awesome location, bus, park, schools, shops and rental $400 pw.
Any thoughts? I feel like a novice and would appreciate any advice.
Thanks so much
Ps: Is there a way to ‘watch’ topics and be notified of new posts on previous topics?Good news for you mate, Disneyland will be built in COOMERA area: http://www.news.com.au/travel/travel-ideas/family/new-billiondollar-theme-park-to-rival-dreamworld-to-be-built-by-chinese-developers/news-story/ec83e943b9fc3aae9c50d80689cc5850
Once it is fully built, it will be a great Capital Gain booster to the property price in COOMERA and UPPER COOMERA area.
SiteManager
Investing for a better future
Nick,
You can try to invest or research more about Loganlea or Ipswich area, those are still cheap with just under $400k so you could end up buying two investment properties with high yield to make you easier to hold during the high interest rate in the next 2 years ahead.
Alternatively if $400k is your budget, my buyers agent in Sydney is correct to predict COOMERA, Upper Coomera and Ormeau to be the next hot spot due to the following development:
Disneyland: http://www.hit107.com/scoopla/life/blog/2015/11/disneyland-could-be-heading-down-under/
Westfield Mall: http://www.coronis.com.au/blog/a-decade-of-planning-sees-coomera-flourishRemember to buy just the existing house in those area mentioned above.
SiteManager
Investing for a better future
ok, this is another news for COOMERA: http://www.hit107.com/scoopla/life/blog/2015/11/disneyland-could-be-heading-down-under/
So does this would means this area is now started to be getting better hence the developer selected this area ?
SiteManager
Investing for a better future
P Donnelly how do Australian residents go for borrowing in Asia ?
What is the maximum lvr we can borrow.
Funnily enough we can’t cope with the demand from Asian investors wanting finance to invest in Australia.
Cheers
Yours in Finance0-40 Properties in a decade. Ask me how.@qlds007, Does the foreign investor can buy existing property or does it have to be new Off The Plan ?
SiteManager
Investing for a better future
You need to go outside Melbourne- find a block you can subdivide and sell off the new lot to pay down debt or build the dual occ and get 2 incomes to be cash positive. There are properties like this within 100K of Melbourne CBD where rental demand is high- easy to commute to work.Property may cost around 200K+. Build cost about $150K+. Rental income about 600/week+
@planning, ok so in that case it is in 100 KM outter ring of Melbourne ?
Which city or suburb that you can show for example ?SiteManager
Investing for a better future
It was touted as an area to invest by one of the so called INVESTMENT CONSULTANTS touring canberra
Hi GauravNice speaking with you this morning :-)Those consultants are glorified real estate agents flogging overpriced off the plan properties for massive commissions. Steer clear.CheersJamie
This is some very good advice.
In terms of the area historically it has been a gonna gonna for a long time, but the Westfield might finally turn it into a real growth area. I like the corridor from Bris to GC as a whole, first invested there 13 yrs ago, but due dilligence and finding value is the key.
A very quick pass shows established options cheaper if you want them – eg hypothetical something like this?http://www.realestate.com.au/property-house-qld-upper+coomera-121067138yeah, that’s what my BuyersAgent told me, this area was long overdue for CG increase. I guess now is the time to buy here in COOMERA or ORMEAU.
SiteManager
Investing for a better future
Thx for that BG. I had read those articles…….. This Westfield development has been promoted (spruiked) since 2004. Prices have since softened in the new house and land stock there. I have been following it sonce 2006/2007 and fortunately I didn’t buy. Even within 1 km of the train, which I must admit is a unique piece of infrastructure to be able to walk to a train station on the Gold Coat. Not a common thing. I understand that projects and development of this nature take time, however as a good place to buy for future capital growth?……………………….how far into the future? Whatever is purchased there will be a negative gearing play…….how long will it take for rents to rise and demand to provide growth?………………….there is no housing shortage on the Gold Coast anywhere.
I was addressing keiko’s comment. My opinion is that Brisbane will ostensibly outperform the Gold Coast by a long shot when it turns to the upside. I don’t trust councils and developers to deliver when/where they say………………….this thing has been promised for a lon time. This will likely eventuate and possibly GFC and other leverage issues with Westfield may have deferred this project from starting. My take is (like buying a rising share/stock)…..wait until this thing has started before committing funds there for IP’s. It’s not as if the market is booming there or anywhere near there ………………..yet. Merely my 0.02.
I do however agree with your notion Bluegrass about renting versus ownership. Saqib, It is generally (mostly) cheaper to rent where you wish to live/reside than to actually buy there and furnish mortgage and other non-deductible costs. Funds may then be directed toward investment assets where debt servicing is tax deductible.
There is one aspect of owning though rather than renting and it does not involve financial criteria, but rather the intangible feel good comfort of owning. This cannot be discounted and will be different for every person. The great aussie dream is not dead just yet. Saqib, step back and establish some goals as to what you want from property. Be very careful from paying too much for brand new housing to entities who will benefit on many and varied levels from selling you their stock. Look for amenity and where you (or you tenants) wish to live and that will have greatest demand. Keep reading through this forum and search the sub-forums then narrow down you selection to a few suburbs. Research further and if you are not confident, engage a buyers agent/advocate. I haven’t had the pleasure of meeting Andrew in person yet, however have read enough of his posts here and moreso on another forum…..IMO you could do much worse than engaging Andrew Allen to assist you should you feel the need.
Good luck.@michael-888, Finally the mall has been approved, so it is should be BOOMERA now ;-)
See: http://www.coronis.com.au/blog/a-decade-of-planning-sees-coomera-flourish
SiteManager
Investing for a better future
