QLD Investment Property

Looking to buy long term IP in Mackay area. Any Pros n Cons. Right/wrong decision . All I know about the region is from online research.

 

How did u go?

 

Optimum buy window. Some good value around, just still a bit more risky then other Regional hubs atm.

 

Thanks .
Really liking the look of Eimeo and Blacks Beach.
Anyone have insight into that area?

 

Black Beach has some good pockets and a great beach. Eimeo would be my pick though.

 

Thx Troy..
Can I ask why?...feel free to ignore me if I'm being an annoying newbie

 

Closer to better public amenity, and the demographic is better and housing stock.

 

Blacks Beach has some very nice pockets and a complete "no go zone". Stay out of "crack Cove" as locals like to call it.

Eimeo is very nice and becoming quite popular. The pub is amazing. Issue with the Northern Beaches is access is one road in one road out. More estates and more cars becoming problematic to get into town.

Side note - Mackay experiencing a major job boom. Just yesterday heard Hay Point is chasing 120 boilermakers.. 120!!

 

I know every cycle is different but lots of people did get burnt in Mackay around 2015. I would guess it has much more concentrated employment than Rocky etc so it can be volatile. I guess I'd just want to get out after you've made a decent gain, I wouldn't plan on holding a property their for 15 yes.

 

I'd say as regions "mature" volatility becomes less. Still there for sure though. People seem better prepared when they've experienced booms/busts prior.

 

And then there's Toowoomba..
Just started looking into this area and numbers there look great..
Anyone have insight there ..

 

I just returned from Mackay, I stayed at the quest in Mackay harbour, the pub was buzzing and the boat ramp full.

I saw some good Cashflow positive places, but i just cant get my head around Mackay. Its somewhat depressing, and seems like a complete backwater.

Anyone taken a look at the Mackay Master plan? Any one know if it's an actual chance of becoming reality?

 

I've studied it in detail and put my money where my mouth is. The market isn't for the inexperienced as you mention. Loads of potential though. There has been movement in the identified 'zones' of the masterplan. Slowly they are changing the waterfront and have secured funding. In my opinion they need some private investment. Plenty of Brissy based developers are looking seriously at the CBD. They just need the support and the numbers to make sense.

 

It could have a mini Brisbane potential and i like the idea of joining the 3 precincts.

I noticed the market has factored 0% price premium onto the future rezoning of the "beach precinct" medium density area. Really no price differential from outside of the re zoning area

 

Hi guys, sorry to have gone AWOL for so long.new phone new job etc....#life
I did end up getting an IP in the Whitsundays..
Jubilee Pocket right near Airlie Beach.
3 beds 2 bath, now tenanted at $650 pw.
Not CF % with borrowing structure so at the moment it's a slightly expensive investment. But I feel good about it Mackay is a bit meh overall and I can see Airlie also being a holiday home in the future...

 

That is correct. Hence why we bought in that higher density pocket. We are also getting 13% gross yield due to some local connections.

 

Good job. Airlie will always be volatile with the tourism market. Outside of a few DIDO miners there's not much else in the way of employment. As long as you mitigate your risk and keep that in mind you'll be ok. Just plan for the quiet times.