QLD Rockhampton, Townsville and FNQ

Rather just buy a house for 250k that rents for $350
rates on duplex are double, insurance more, maintenance probably more unless lowset besser block
also better cap growth potential on house

Land component should.come.into consideration too i guess. Although most land up there is worth bugger all now with rising building costs

 

I wouldn't be banking on sustained high CG

Is it just my properties or is Suncorp often way more expensive than CommBank in NQ?

 

Combank is actually pretty good. I know of somebody who bought in Douglas, Townsville, and they are paying approximately $1200 per year with Combank.

 

Rental market is quite strong. I just upped my rent from $380pw to $440, and it was snap-signed. No resistance, no pushback, no complaining.

 

was the house in a nice condition, or bit outdated? if u dont mind me asking.

 

It was in nice cond.

Still. Every time i raise rent, i expect some resistance (understandably so). I expected them to come back with a plea to increase slowly.

But this time i raise it by 16% and lease was signed with in days.

 

Was this in Rockhampton or Townsville?

 

Rocky

 

Thanks for your feedback. I have shifted my search from Mackay to Bundaberg, specifically looking at the coast which I think offers great potential. What does the forum think of Bagara? I have the opportunity to purchase off market a 3 bed 1 bath 1 car on 600sqm (build 1990) 3 streets back from the beach off Moodies Road for $510k with rent appraisal at $470. The figures would mean negative gearing ( adding $12k over the year) to bank on capital growth of the area. I would appreciate your feedback.

 

Just had a bank val come in.

$485k – CBA auto valuation.

$400K - Purchase price (October 2021).

Not sure how set in stone these CBA valuations are. I was curious and was considering buying another property.

 

Nice!

Take that equity from CBA now and buy something!

 

super! is that in Tville?

 

I'm about to settle on a house in Mossman and been told 600pw people ready to sign straight away.!!!! 5%yield which is nice but will be our PPOR at some point

 

>20% growth in 8 months. Wait for all the haters saying something about throwing darts yada yada.

You purchased within your means and ensured cashflow will be solid in a hot and cold market.

In the end you pulled the trigger and have made wealth for your family. Well done mate.

 

Thanks mate. I intend too. Only concern is I just started a new job after a 3.5m stint of unpaid work due to a Social Work Placement. This might impact me a bit!

Thanks mate. Obviously you helped with it all! I will keep you posted re the equity if it works out for obvious reasons

Indeed, Bushland Beach.

 

7NEWS Brisbane - Queensland named Australia's top tourist destination | Facebook | By 7NEWS Brisbane | Queensland has taken the top spot as the number one tourist destination in Australia. Over 12 months, 20.8 million people have travelled to the Sunshine...

 

Goodness Tropical North Queensland killing it. Wonder if Townsville sneaks into that with Cairns lol!

 

Cyclone pool modelling to be released today, savings 'overhyped' - Breaking News - Insurance News - insuranceNEWS.com.au

 

https://mcusercontent.com/0210d1720...nlock_The_North_Policies_and_Projects_sml.pdf