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QLD Labradore??

Discussion in 'Where to Buy' started by Mabelle20, 3rd Nov, 2015.

  1. Mabelle20

    Mabelle20 Active Member

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    23rd Aug, 2015
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    Location:
    Melbourne
    Hi all, I am still in a spin as to where to invest my meagre 200-250 K. Not a lot, I agree, but figure there's somewhere out there ready to reach starry heights!!
    What do you think of Labradore, Gold Coast. I know it has a shady rep, but the prices for a 2 bedder a couple of streets back from the beach fit my price range and the bc seem generally lower than other areas (strangley) and rents seem lovely.
    Any experienced in the area? Asking because GC keeps coming up as an area to watch.
    Many thanks in advance...
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    Location:
    Adelaide, SA
    Not really familiar with GC, but I'd be careful investing in apartments.
    - There's lots of them so you'll be competing against them for buyers or tenants
    - not much scope to add value to them, so it's basically an investment that just sits there
    - will it be c.f. + or - once you take out BC, insurance, rates, etc?
    - will it get maintained? Some BCs have have members who are poor so they vote against work being done or head in different directions. I don't like not being in 100% control of my investment
     
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  3. Bran

    Bran Well-Known Member

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    I like Labrador, but there are a whole lot of units coming on the GC in general and I don't think Labrador has enough to stand on its own from Southport.
     
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  4. Investing101

    Investing101 Well-Known Member

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    Location:
    Over the rainbow
    agree.

    See if you can get a Southport place at the north end so its Labrador prices, people will feel its closer to the beach by name and it can be near the uni too!
     
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  5. Nemo

    Nemo Well-Known Member

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    Does it have to be Gold Coast. For that price you could buy by the beach in Adelaide.
     
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  6. Mabelle20

    Mabelle20 Active Member

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    23rd Aug, 2015
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    Location:
    Melbourne
    Thanks everyone,
    Great point about the amount of units (new and shiny ones) going up. No, doesn't have to be the GC, I suppose it was a combination of price point and the rents are quite ok. I'm not at all familiar with Adelaide, and haven't researched the different areas or potential growth. Shall look into it!!
     
  7. Azazel

    Azazel Well-Known Member

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    It's not too bad, would be better if you could go for a house.
    A small block of units not far from the water - with plenty of land potential for developers to come and buy you out in a few years would be ideal.
     
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  8. seanbrissy

    seanbrissy Well-Known Member

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    Is this your first IP? can you get something closer to where you live? There's a reason why the prices are cheap there.
     
  9. Mabelle20

    Mabelle20 Active Member

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    Location:
    Melbourne
    Thanks Seanbrissy,I am in St Kilda in Melbourne and yep this would be my 1st IP. Keep changing my mind about the direction to go in. Not a particularly high earner, so this is also a factor in ensuring my decision is sound. Aim is obviously cg but on that price point could be dreaming. Rural vic also comes up but I feel cg would fall short and issues with vacancy rates. Also these areas have a lot of land around (Bendigo, Ballarat, Geelong) Looking at 10 year turn around. Afraid I'll be still being indecisive years from now.
     
  10. DiligentPM

    DiligentPM Well-Known Member Business Member

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    Location:
    Brisbane
    Check out
    Check out areas like Gailes 17 km from Brisbane CBD ..room for growth