QLD Park Ridge QLD 4125 is now in the top 10 list of fastest growing suburbs in QLD !!!

Note: The last tenant left the house all in a sudden, however the property has been repaired and fixed, thanks to EBM insurance .

 

No, you are not.
I mean, the buyer might not be a computer savvy or investor, so I am fully understood of that risk.

 

Ok I'm speechless. First time since I joined PC I'm speechless.

 

what repairs did you have to do Tekoz?

 

Tekoz for us buy and holders its a long term game, I would have another think about it.
Isn't your area just taking off now?. All the best in what you decide to do.

 

You have to do your own checks etc and feel comfortable yourself, but after going to all that trouble, and if young, I would hold it for 10+ years, or 2 cycles, esp if paying for itself, near impossible to get anything in Syd even close to paying for itself, and while it is on a dip, I would wait to see what happens, SW is nice in many places, but it has had a great run, QLD has not even got up a gallop yet, but still nice and even growth in many places.

While I will admit I did not like the Park Ridge Idea myself, I think you need to really think this through, even though I would be happy with no more highlighted "Park Ridge" posts ;-)

Have you been to any meet ups and discussed openly and then weighed up all pros and cons ?

Have you asked a bunch of PMs what they think about the place specifically ?

 

Going by this and other threads I have to say Its not that surprising, granted Its not a property that will have savvy investors rushing out to make an offer, even knowing what the sellers financial situation with the property is.

 

I think Tekoz will be able to sell it. Since it is a brand new free standing house isn't it? Plenty of depreciation left in it?

 

I am not sure, but I think he would have rented it for a year, or had a rental guarantee.

 

not commenting on whether he should sell or not.
if he has already made his mind then plenty of 'depreciation investors' looking to buy something.

@Tekoz as we know makes his mind himself and just lets us know

 

Of course, only commenting so he does think of everything, so were all doing same.

I just remember reading something along those lines in amongst the Park Ridge hype

it is not new and can no longer get all depreciation benefits IMO if above has been done, but that is buyers concern.

 

Yes it has a rental guarantee on it.
just like car, I'm selling it after the warranty has finished.

 

The repair was:

1. Wall and door repaint
2. Re-Landscaping since the previous tenant did not take care of the garden.
3. Curtain replacement.

 

yes, no more Park Ridge hype, if this one is sold out for a good price.
Actually no to be honest. I didn't join the meetup or discuss it any other than on this forum.

 

No worries mate.
I never assume that everyone will look into this PropertyChat forum when buying something.

There are some buyers out there that is inspecting it personally without knowing this site even exist .

 

But is the unnecessary risk worth it? Maybe if you were a little less blasé about risk in general you would make better deals and more profit. Not a dig at you mate, just something to think about.

 

I think review the exit costs and if you can get out without losing anything and are happy to go through the sales process, then do it.
I believe there are better options than a small lot house in Park Ridge moving forward.

 

Any luck selling Tekoz?

 

don't think they sold it

 

Looks like it is start to booming again
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