QLD convince me deception bay is a bad idea

Discussion in 'Where to Buy' started by Brad81, 19th Jun, 2015.

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  1. See Change

    See Change Well-Known Member

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    We haven't hit it yet , but have been told it's on the road up ahead for the main lenders . In the past it was just an empty road leading into the far distance .

    Cliff
     
    See Change, 21st Jun, 2015
    #41
  2. fols

    fols Well-Known Member

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    Agree they can bring net yield down, but these ones aren't too high, so still solid returns. Especially when Depreciation benefits are worked into the numbers. I like townhouses, I could buy them all day. That said, I make sure I buy a FS House for every townhouse/ unit I purchase.
     
    fols, 21st Jun, 2015
    #42
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    been a very stagnant area for a long time

    Lots of infill development capacity there as well.

    Proper waterfront obviously is a but limited with longer term supply, but its a punt for sure

    ta
    rolf
     
    Rolf Latham, 21st Jun, 2015
    #43
  4. Honeydew

    Honeydew Well-Known Member

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    Hi See Change,

    In regards to hold cost, just wondering if you are paying a lot of land tax from holding several IPs in QLD? Or do you buy them in a trust to save on land tax due to the tax free threshold allowance ?

     
    Honeydew, 21st Jun, 2015
    #44
  5. Honeydew

    Honeydew Well-Known Member

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    Hi fols,

    What is FS ? Is it Freestanding ? If so what is the difference between a FS townhouse/unit and the other non-FS ones ?

    Thanks for sharing.

     
    Honeydew, 21st Jun, 2015
    #45
  6. See Change

    See Change Well-Known Member

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    We buy in a trust , and there's a 350 threshold for each trust . Current land value on our recent purchases is just over 100 which means if they double ( which I expect ) and we bought 2 in a trust , we'd end up paying land tax , so at the moment we're buying one per trust .

    This was discussed in this thread on somersoft

    Cliff
     
    See Change, 21st Jun, 2015
    #46
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  7. wombat777

    wombat777 Well-Known Member

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    That looks like a good strategy and one I will think of adopting, particularly if yields for townhouses can be good.
     
    wombat777, 21st Jun, 2015
    #47
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  8. Honeydew

    Honeydew Well-Known Member

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    Thank you See Change for the link,

    From the the somersoft thread, I gather you place your IPs in multiple discretionaty trusts, has this caused any issues for you so far when selling the properties and cash in the gain ? For example, what Paul@PFI posted at 16-06-2015, 11:19 AM, did having the IPs in the trust cause more stamp duty/tax or other exiting cost when selling?
    Do you find it more cost effective to have multiple QLD IPs held in several separate trusts than in one's own name ? I am already close to reaching the land tax threshold in QLD and still wanting to buy more but not sure if the cost of setting and maintaining trusts and any other associated trust related issues/cost would eclipse the land tax amount in the end.

    If you don't mind sharing, how much does it usually cost to set up a trust and maintain it yearly ? Also when selling, is there any doubling up of stamp duty cost if the IP is held in the trust ?

    Many thanks

     
    Honeydew, 21st Jun, 2015
    #48
  9. sash

    sash Well-Known Member

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    How does each trust cost to maintain per annum?
     
    sash, 22nd Jun, 2015
    #49
  10. R377

    R377 Well-Known Member

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    Terry Ryder had Deception Bay in his so called hotspots in 2007. Its done 3%pa over the past 10 yrs.
     
    R377, 23rd Jun, 2015
    #50
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  11. wombat777

    wombat777 Well-Known Member

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    The Global Deception Bay Financial Crisis hit.
     
    wombat777, 23rd Jun, 2015
    #51
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  12. mitchNik

    mitchNik Member

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    we are awaiting settlement on a 4br house which should return upwards of 7% in D-Bay. We did our research and think its going to see some good CG in the coming years aaand numbers were good. Alot of people are very against D-Bay but hey if the numbers stack up and its works within your strategy id say go for it
     
    mitchNik, 24th Jun, 2015
    #52
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  13. jordy

    jordy Active Member

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    Thoughts on Narangba?
     
    jordy, 25th Jun, 2015
    #53
  14. wombat777

    wombat777 Well-Known Member

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    My PM has advised that rental listings in Decpetion Bay have jumped from around 52 properties 6 weeks ago to 75 now.

    Certainly reflects the high investor buyer activity in the last few months.
     
    wombat777, 13th Jul, 2015
    #54
  15. ej89

    ej89 Well-Known Member

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    This just opened my eyes so much regarding price points when buying! Awesome info. Thanks so much!
     
    ej89, 17th Jul, 2015
    #55
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  16. Magnet

    Magnet Well-Known Member

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    Can't talk you out of D'bay. Just bought 3 bed house there. Good fundamentals by the water.
     
    Magnet, 17th Jul, 2015
    #56
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  17. Magnet

    Magnet Well-Known Member

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    On the negative side we had a tenant approved yesterday arvo. They drove around the area last night and decided against our place! Not from D'bay I think. Said they were moving to be closer to family. Flooring still being finished today so see how we go over the next week. We are on the water side of D'bay and near housing commission so that probably did the trick in turning them off!
     
    Magnet, 17th Jul, 2015
    #57
  18. mitchNik

    mitchNik Member

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    Check out the latest API Mag.... Dbay is mentioned in the States section....

    Happy reading
     
    mitchNik, 18th Jul, 2015
    #58
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  19. larrylarry

    larrylarry Well-Known Member

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    What Street is yours on if you don't mind sharing.
     
    larrylarry, 3rd Feb, 2016
    #59
  20. Magnet

    Magnet Well-Known Member

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    It's in the radius of Thompson, Moore, Bancroft & Flinders.
     
    Magnet, 3rd Feb, 2016
    #60
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