JaxonParticipant@jaxonaJoin Date: 2014Post Count: 282
as above I covered this. (its based on the price I get it for)
All returns are based on sales prices (purchase price) and rents for those areas (I try to be as on the point, not conservative and not optimistic(rent wise)
anythings possible, but generally you need to work for amazing returns
One of the two links you posted is a standout to me – and that is the Mermaid Waters one. It appears to be an older style, but looks great inside – and its price is HALF of the Median. Rental return appears pretty darn good too.
Is the price wrong? ‘cos based on first impressions, I would be wanting to take a close look at that one if the price is correct. I wouldn’t even look at the Pacific Pines one in comparison.
The other thing is that the Median for that area appears to be on the way up. Now might be a really good time to get into something like that.
Thanks Benny. I will be flying up there this Thursday night and staying the weekend to check out these properties and more. Will see how it goes.
How did your trip go? DId you get to check out the Mermaid Waters one?
BennyJaxonParticipant@jaxonaJoin Date: 2014Post Count: 282
O got a buddy selling a 1b1b with garage renovated (partly)
rents for 300pw
good location, right near southport and chirn park
pm me for details. good returns
It ended up going pretty good – I visited around 5-6 properties in the Upper Coomera and Coomera areas. 1 of the townhouses in Upper Coomera looked great.
I’m hoping to make a trip up there again shortly to determine next steps.
I didn’t end up looking at the Mermaid Waters – can’t remember the reason but I’m sure there was one. I am trying to focus on the Upper Coomera area.
I didn’t end up looking at the Mermaid Waters
Fair enough Ajay – good luck with your hunting !!
BennyLuke TaylorParticipant@world-changerJoin Date: 2005Post Count: 415
Hey guys ,
I noticed your discussion on GC-a great area -just stay away from high rise unless its direct water front and watch the fees.
Mermaid Waters is getting great growth and will continue to for a season yet.Coomera has got heaps of supply so in my opionion will not sustain growth as well
Thanks Luke – any particular reason Mermaid Waters is a good bet as compared to Coomera and Upper Coomera?
Luke made a good point here:-
Coomera has got heaps of supply so in my opinion will not sustain growth as well
Upper Coomera is a much newer area (approx. 15 years old) with wide open spaces around it. Mermaid Waters is boxed in and is right near the CBD/tourist area of the Gold Coast and. Coomera in comparison is halfway to Brisbane and near little except the theme parks.
If you were going to the Gold Coast to live or to holiday, in which of the two areas would you like to rent a place? Or, if moving to the Gold Coast, and had work in Surfers, how far would you like to drive to work? Mermaid is about 5Kms away (can catch a bus?) and Coomera is 20+Kms.
To “get an idea” of relative popularity, check out the rental cost of something in one area compared to the other. Check vacancy Rates too. Supply versus demand is the key. Buy a bargain in a sought-after area, and you won’t go too far wrong. It could be that Coomera does have short-term rental demand (for those wanting to visit the theme parks), but for mine, buying in a well settled in-demand area trumps buying in a “greenfield estate” in most cases.
For the record, I don’t have a ‘thing’ about Mermaid Waters per se – I could have said the same of Broadbeach, Burleigh Heads, Southport, etc in preference to Coomera. It is simply that you provided a link to the Mermaid one, and a first glance at it looked pretty good. I see it has sold now.
- This reply was modified 2 years, 2 months ago by Benny.
Thanks Benny, all good points.
AjayLuke TaylorParticipant@world-changerJoin Date: 2005Post Count: 415
Great points guys,
yes mermaid and a lot of the direct water side suburbs will always be more sought after due to water and lifestyle .As mentioned any suburb with heaps of land around will take many years to grow consistently(once the land is all but dried up)
Coomera has a stigma too and a lot more rentals than OO’s
The thing is too -there are still some deals around the waterside areas quite reasonably priced too