QLD Airlie Beach - or any other suggestions? Apartment Investment

Discussion in 'Where to Buy' started by Bazingafuture, 12th Feb, 2021.

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  1. Bazingafuture

    Bazingafuture New Member

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    Hello Everyone,

    I am exploring the idea of purchasing a 2 bedroom apartment in Airlie Beach (or alternate location where prices are reasonable)

    I am starting my due diligence now. Is anyone familiar with the location? And could provide some insights?

    I am wondering if yields are ok (long term tenants) and if there is an expectation of capital growth.

    Risk of natural event (floods, cyclones etc) would be a good to know too.

    Thanks in advance for your time!

    Legends
     
  2. wilso8948

    wilso8948 Well-Known Member

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    I live and work in the region.

    Tourism plays a major role. I would steer clear of small apartments and anything with the "short term accommodation" vibe. Be aware of exxy strata fees also.

    What's the thought process behind Airlie? Invest or play? Budget? Strategy? If budget is limited I'd be more inclined to go to regional centres like Mackay, Rockhampton and Townsville.

    Local knowledge is critical and insurance from weather events needs to be considered in cashflow projections.
     
  3. Bazingafuture

    Bazingafuture New Member

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    Thanks for the feedback! Appreciated.

    From a budget perspective I was thinking 300k/350k as I would like to keep myself under leveraged and at the same time keep the door open for other investments.

    The idea behind Airlie was that long term (i.e retirement 25 years from now) it would be a good spot to have an holiday apartment.

    In addition, considering what is happening at a Macro level, I was wondering if it could be a good location in a few years when tourism may be booming again.

    I was tentatively thinking that could be a new Noosa (with some limitations due to geography).

    The other place I was looking at was Agnes Water...

    I am pretty much at ideation phase still.....
     
  4. Heinz57

    Heinz57 Well-Known Member

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    Know a few property developers from Airlie who have spectacularly boomed and busted a few times
     
  5. wilso8948

    wilso8948 Well-Known Member

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    This is probably where you're going wrong in my opinion. Keep unemotional with the investment and use it as a tool to get to where you want to go. Better to buy in a decent area with lower risks and within budget. A holiday house is a luxury. Get it down the track when funds permit. Continue to holiday when you can and holiday let/rent.

    Airlie is a nice place. So is Agnes Waters. The reason it won't become the 'next Noosa' is proximity to capital cities. They are both a decent distance away. When you drive there you will realise.

    FYI I just bought a freestanding house in Mackay within your budget. 4 bed brick home on 800sqm one block from the beach. This is what I'd be targeting with your budget and longer term view.
     
  6. Bazingafuture

    Bazingafuture New Member

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    Mate, great & fair points. Thank you very much for your feedback. Really appreciated. If covid allows it in the near future I may be having a drive in the area to understand more.....Have a great weekend!
     
    wilso8948 likes this.
  7. Boss

    Boss Well-Known Member

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    It's a matter of when, not if, a major developer moves into Agnes Water.

    That will be the gamechanger.

    There is plenty of suitable land around Agnes Water for a commercial airport, for example.

    3-5 years I'd expect some major development in Agnes Water will place it firmly on the map...in terms of the next Byron/Noosa.
     
  8. T-Money

    T-Money Member

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    Did you purchase In Airlie at the end.
    Am looking into that region atm...similar numbers and goals as you.
    Cheers