All Topics / Help Needed! / Is there a catch? Investing in Over 55's Unit

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of CReneeCRenee
    Participant
    @kali14
    Join Date: 2012
    Post Count: 9

    Does anyone have any info on the Oxford Crest group that manage over 55’s complexes in QLD? I have had my offer accepted for a unit (87k) but no contracts have been signed just as yet.

    From what I can see so far (haven’t gone through fine print with solicitor/conveyancer) everything looks promising.
    One bedroom unit with long term tenant
    Sales price – $87,000
    Rent – $250/week
    Clears $2700-$3500/ year (body corporate could be reduced fairly drastically). This includes interest and all known expenses. Again, will have to go over fine print.

    I’m aware it is a niche market but I’m looking to hold onto the unit mainly as a cash flow source to allow me to move onto other properties. I can only assume these types of developments will increase in demand because of the baby boomers coming into retirement.

    I have inspected the unit and the village, manager was great and I don’t have any concerns from what I’ve seen. Just want to make sure I’m not missing any major problems that others may have experienced with this type of investment.

    Thanks in advance!

    Profile photo of DwightDwight
    Participant
    @bigvman
    Join Date: 2002
    Post Count: 42

    I nearly invested in something similar about 12 months ago as I was looking for positive cashflow.
    In the end I passed on it and went for something else because I realised I wanted more control over the investment.

    In my example the numbers look OK on paper, but I was really relying on someone else to manage their investment, so I could then collect on mine.

    It’s up to you how you want to move forward but It wasn’t as if there was a hidden catch, more of a decision I didn’t want to get caught up in the “managed” property investment arena.

    Cheers,

    Dwight

    Dwight

    Cashflow Positive Investor

    Profile photo of Heinz57Heinz57
    Participant
    @heinz57
    Join Date: 2012
    Post Count: 26

    I have had business dealings with this group (not real estate related) and find them ethical to deal with and no issues with payment etc. Hope this assists your decision.

    Profile photo of John RogersJohn Rogers
    Participant
    @johnrogers
    Join Date: 2014
    Post Count: 1

    Sounds OK but make make sure area is not subject to flooding.

    Queensland Floods
    16th January 2011

    We were subject to the Queensland Floods this week as the Bundamba creek rose to a height of 18.98m, approximately 2.75m above the height of the nearby bridge. This caused major flooding across Bundamba and extended to the Bremer River at Riverview.

    Profile photo of CReneeCRenee
    Participant
    @kali14
    Join Date: 2012
    Post Count: 9

    Thanks for your help guys!

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Specialist market wouldn’t touch them with a barge pole as an investment.

    Ru intending to finance and part of the purchase as it is very specialised market with very limited lvr’s.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

Viewing 6 posts - 1 through 6 (of 6 total)

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