..Investing on Fraser --Island Queensland..

Just wondering if anyone has invested on the surf side of Fraser Island.

The calm side the entry price is below 250k,but on the surfside the entry price starts above 500k and some rent for above $1500-00 per week even more in the peak times.

I have a mate that has sold up everything in inner Brisbane over the past few months,and he is camping on the island over the past few weeks looking .

His target area is Orchid Beach,just past Indian Heads.He rang me this morning
after walking the entire area and a simple letter in each letter box,he has 2 people interested in a no agents cash 28 days settlement..

 

If it's anything like Magnetic Island in Townsville - holiday destination, very seasonal, low/negative cg. I'll sell you a few in mining towns too if you like.

 

Scott,it may be different from Magnetic-Island,i'm just trying to help my mate..
I told him stay away from the calm side of the island,to many of the same buildings in a small place and a massive amount listed and silent listed..

But on the surfside,totally different layout,very few for sale in his price range,the 3 that he is looking at,and going by what he sent me this morning
all seem to be leased for over 40 weeks per year,and some have solid bookings for the next 4 months,the downside is salt air,maintenance cost which may not be that high as there seems to a trade based living on the island,ticks all the dots so far..

 

I read this thread and thought you guys were talking about Russell Island, land there is cheap!!!! and you get water views,

 

There are definitely some major caveats to building / living on Russell. I think in 20 years it will probably be amazing, but right now its still got a bit of a crime problem.. I would sum it up as "trailer park with a natural moat". Building there is also prohibitively expensive, you need to rent barges & pay a big premium to builders & trades to mess around with getting the ferries each way. Cheapest alternative that a lot of the locals use is either trailers OR they buy old houses that can be moved and get them relocated over there.

 

Look at tinnanbar

 

I just bought land on an island, but it does have a bridge. You will always need to factor in the cost of transporting items by barge.

Also living with isolation can be very very good or very very bad. My other half is only alive thanks to the timely intervention of the flying doctor and one less appendix. Imagine needing dialysis or chemotherapy and having to make the trip to the mainland.

Holiday letting however is a different ballgame, assume you still have to be near enough to manage it.

 

Cylones and storms, your on the side that gets battered if youre talking orchid beach. Also check out rate costs, plus also u may have a lot of building restrcitions in place due to being heritage listed area, which frazer is. Also the cost of getting any type of contractor in to do work on the property will be astronomical as they have to come over via barge, then drive 1.5 hrs to get there. Everything on the island is expensive. Diesel is +$2 a litre. You would need to stock up on food at mainland to last you.

The other thing is check out building insurance. Not sure what cover you will get or costs!!

 

Check with a broker too. Finance for islands can be a little tricky.

 

My sisters good friends have a decent place in Orchid Beach (large timber pole home type place up on the hill). It is certainly more of a lifestyle decision with costs covered by around 75% occupancy and big money to be made during tailor season. They advertise any required trades on one of the quoting websites and had the place completeley painted at a rate that was comparible to mainland prices. The painters dragged all the scaffolding etc up the beach on an old Hilux. There always seems to be tradies who are willing to get away and do some fishing etc after a days work but you have to be prepared to let them stay in the house etc. The only problem they have is randoms continually using their backyard filleting station and making a mess (they have to turn the water off to it if no one is there).
I think you have given your friends good advise, there is only really Kingfisher Bay resort and associated units etc on the western side, whereas the surf side holds value simply due to access to the fishing side without the sandflies, and Orchid Beach is far enough north to be away from the never ending plague of back packer multi vehicle tours getting bogged and generally being annoying unlike Eurong or Happy Valley.

 

Hmmmm so a good way if you can line your stars is find a water side block of land. Thats flat.
Get an old free removsble house.
Tranposrt. Renovate and bingo you have yourself a beachside property without the price tage.

How much extra are the builds on russell island?

 

Sounds like you know the island,Orchid Beach is stunning my mates plan is buy on of those pole homes on over 4000sqm's of land,then build a small granny flat out the back and manage and rent the front house out..
I was talking to him an hour ago,the house he is keen on is leased out for the next 4 months,and you are right there are retired legal people accountants various trades people all on the island ,orchid beach imho is a bit up the social money ladder then happy valley-eurong,and waking up there each morning would put an extra 10 years on your life..thanks..

 

Great plan and something I am working towards myself, a lot of people have a similar setup living out of a granny flat or second dwelling while the punters pay the mortgage....I have stayed at Poyungun Rocks at this place:
Fraser Island Absolute Beachfront Holiday Rentals | Home
and they have a caretaker or the owner living downstairs in one of the houses which works well. If the owner wants to take off for a few months he has grey nomads fighting to look after it for him for basically food and board. Envious.

 

And what are the odds of that

An article telling how much youcan buy the entire island for

Queensland’s ‘cheap’ and ‘not so cheap’ islands for sale

 

They forgot to include this one: ISLAND FOR SALE: Cheap Fraser Coast island drops price again

Only $259K!

 

^^^
Are there any roads to it?
Cant aee any

 

Absolutely not... boat only until you clear a helipad.

 

I wouldn't give them $59k

 

Hmm if one could afford a helicopter and pad i dont think 550k would be too much trouble

It would be a bit of dream to own your own islane where you can just jet off to

 

Heh. Fraser Coast is not Fraser Island. Did you read the rest of the headlines from The Chronicle? Priceless