All Topics / Help Needed! / Advice on options for combination of “lifestyle” and rental return- Qld Coast

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  • Profile photo of warrenmacdonaldwarrenmacdonald
    Member
    @warrenmacdonald
    Join Date: 2014
    Post Count: 2

    Go easy on me, I'm a newbie on this forum.

    I'm an Aussie living in Canada and own a couple of properties over here; one of them a hotel condo in a higher end resort.

    Strata fees in this unit are'nt too bad, manly because over here fees are based on square footage.

    Mine are $620/mth, which I don't mind as it's turn key.

    Call the front desk if the TV stops working; they bring up another one…

    I want to spend more time back home, and am looking for something similar to what I have here, preferably on the Queensland coast.

    I'm thinking Qld mainly because seasonally, it has the best year round returns, and I can block out rentals for a month or so each year when I'm over.

    Here's what I've discovered so far though:

    In places like Airlie Beach (I lived there 15 years ago and love the diving, sailing etc), strata fees for resort style managed units are running up around $10k/ year, which seems over the top to me.

    Realtors tell they've doubled in the last few years…

    So, my questions for the forum are:

    Do places like Airlie have opportunities for investing in apartment units that are not run "resort style" and therefore, presumably, not come with strata fees that are quite as high?

    Have people found better areas to invest in; ie Sunshine Coast, Hervey Bay perhaps?

    Like everyone here, I'm looking for solid rental returns (short term, so I can use personally for a month or so each year) and some degree of security of capital…

    All thoughts greatly appreciated.

    Profile photo of Modernity InvestingModernity Investing
    Participant
    @mark-coburn
    Join Date: 2006
    Post Count: 181

    Hi Warren, 

    I think you are severely compromising your strategy based on lifestyle considerations. You could pickup a solid investment property with far lower overheads, positive cash flow and great capital growth potential, then just rent a short stay property exactly where you want to be each time your are here.

    This would provide you with a far better NET return in the long term. 

    Modernity Investing
    Email Me

    Profile photo of warrenmacdonaldwarrenmacdonald
    Member
    @warrenmacdonald
    Join Date: 2014
    Post Count: 2

    Great point Mark.

    I'd been coming to the same conclusion what with strata fees thorough the roof in Qld.

    Rethinking my strategy here.

    Thanks again.

    Warren

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