QLD Redcliffe?

Exactly. Easy knock down and rebuild. At the Scarborough waterfront there's a lot of $1mill plus homes in the area. They aren't making more waterfront....

 

I am dead set saving/stealing this, what a great summary of the area!

 

That will be $200 thank you

 

@Angel I like to pay these sorts of debts with a lunch date, that way I get to make friends!

 

That would be one awesome lunch!

 

I'm about to knock down a house in Margate and build two new houses on the double block. I've bought one street west of Oxley but the second level will have ocean views. In my opinion, an ocean view one street west is better than no ocean view one street east of Oxley.

I won't make a killing on this one but the area will slowly gentrify. I'll be keeping one of the houses as a rental so hopefully more people have the same idea and prices increase!

 

I have looked around Redcliffe but keep coming back to rhe Gold Coast for some reason. Where in the Gold Coast would you suggest buying ?

 

I know many people on here are anti-new-development-area so I'm happy for anyone to disagree, but we've had a lot of luck in the Northern Gold Coast corridor along the pacific highway, particularly in Coomera.

 

Redcliffe is coming in to it's own, it's certainly changed in the last 15 years when i first saw it. I have made some ok money out there since i purchased back in 2014.

 

Used to live there 20 years ago How times have changed.

 

Yep sure has, had to really as best waterfront area in Brisbane bar none. The rail line has helped put it on the map again.

 

For Brisbane I'd agree with you. Pity the water is so murky though, like a lot of QLD beaches - wonder why that is.

 

Didn't think it was that bad, better than Wynnum, Cleveland etc. The only downside of Redcliffe is that it's 28Km from the CBD.

 

Would you consider the new houses on smaller blocks in Scarborough and Newport nearby? Looks to have good rental return and depreciation for tax return. Redcliffes old houses would mean too much maintenance for an interstate investor.

 

The water is only murky on overcast days when everything is murky. It is perfectly clear when you are standing in it and you can see all the shells and plant life on the sand.

 

Much prefer older houses so you can add value yourself and buy them cheaper. I wouldn't touch Newport, why would you buy in a man made canal when you already have water all around you. Plus Newport properties are expensive. Old houses being too much maintenance is rubbish, I think they make safer investments as they have been around a while and are still standing and also will be in better areas from years ago, yes they may need some work to update them but this is another way to make money by adding value.

 

That's useful to know. I've never been to the area but there seems to be several 4 bedroom brand new houses full turn key advertised for about $490k in Newport which is similar to redcliffe prices.

 

That's surprising but still would not opt for this as opposed to buying an established property closer to the real water.

 

That's exactly what I would have written.

 

Thanks and glad you agree. The new vs old is always a fun debate with the pro's and con's. Much like the capital growth and cash flow debate. I prefer the safe and solid types of investments in high demand area's.