QLD Sunshine Coast (caloundra) or empower wealth

Discussion in 'Where to Buy' started by Jaye Kershler, 23rd Sep, 2016.

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Buy duplex or use empower wealth

  1. Duplex

    76.5%
  2. Empower wealth

    23.5%
Multiple votes are allowed.
  1. Sonamic

    Sonamic Well-Known Member

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    Apologies @Jaye Kershler
    I missread your first post. I thought EACH duplex unit sat on 400sqm. Is it at a beach or in town?
     
  2. Jaye Kershler

    Jaye Kershler Well-Known Member

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    I'm about 50 m away from the Main Street. Which is full of shops and cafe etc and pub and Cinemas

    And Literally I'm across the road from iga shopping centre , post office and. Bottle o

    If I was to walk for 5 minutes I'm down on the water front with cafes and restraunts. And if I was 10 minutes in another direction up a big hill I'm then at Kings beach
     
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  3. Sonamic

    Sonamic Well-Known Member

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    Ahhhh ok gotcha. Street runs behind IGA just off Ormuz. I'll stick to my original. Buy the other half so you have 100% ownership. Then rent them both out and rent a nice unit in Kings for a couple of years while you invest further.
     
  4. Bran

    Bran Well-Known Member

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    Whats the duplex price and yield?
     
  5. Jaye Kershler

    Jaye Kershler Well-Known Member

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    Yeah I never thought of that it's good been able to get other people's
    Views.

    I also think your right it's more about the great location in years to come
    I could go buy some where that might perform better in the short to medium term
    But if she sells there's also the potential. That. I might never get this opportunity again to buy it .

    THere's isn't a great deal for me to add value. Her unit has just been completey renovated.

    And mine I've been in the process off doing room by room

    I can only think to render the bricks and make a nice out door area on both the properties

    And. Get the driveway stencilled. Instead of just plain concrete

    Probably about 15-25k. For all that done.


    I wouldn't get water views but seems he people that are developing are all going 3 stories high
    Simply because there in small blocks

    https://www.realestate.com.au/prope...com.au/property-house-qld-caloundra-121603434

    This is just around the corner on the last photo where the white building is on the right I'm the building next to it which you can't see
     
  6. Angel

    Angel Well-Known Member

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    Thanks Jaye. From what I remember reading your thread when you were thinking about purchasing, I had in my mind that you were closer to Kings beach, which I know has lots of properties down in hollows. Only you can decide whether you think it is a property worth getting and keeping for the future.
     
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  7. Jaye Kershler

    Jaye Kershler Well-Known Member

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    Purchase price. Would be 370,000 rent for $370 any day of the week it's very high demand. And my rental appraisal. Early last year was 360-370
    So 5.2%. Before costs
     
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  8. Angel

    Angel Well-Known Member

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    Been looking at google maps satellite view.

    For the perspective from us Olds.... We wouldn't want to live there ever, but still like the idea of buying the other duplex, renting them both out and in the future buying the next two lots, etc until you have another block big enough for a medical centre or higher density development.

    When considering current "commercial" usage parking would be an issue on a 400m2 lot. I know that Caloundra goes through economic doldrums that last for many years, so you can always buy more land during a downturn. Just think land-banking for long term growth. My husband's grandfather owned land on the waterfront at Golden Beach in the 1950s and 60s that he sold for a pittance at the time because he didn't know what the 70s would bring (Usual disclaimer about past performance being no guarantee of future performance etc)
     
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  9. teetotal

    teetotal Well-Known Member

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    How much are the places closer to you renting on AirBnB/stayz ? Is there much demand from holiday makers? Being it a property literally next door you can manage it very well. And your location of the property is the best anyway. If you want to buy in a capital city you'll be looking for this kind of location anyway.
    I would say buy the duplex as it'll give you more options when time to sell, opens you up for another set of buyers. There are also lots of people who are willing to buy both sides of a duplex so that 2 families can live together.

    And i don't believe in Spruikers either.
     
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  10. Jaye Kershler

    Jaye Kershler Well-Known Member

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    CALOUNDRA BEACH HOUSE - Houses for Rent in Caloundra

    this is the same property i put up just before for a sale price and i found it on air bnb this could be the way to goo seems i could get anywhere between $120- 150 per night
     
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  11. Jaye Kershler

    Jaye Kershler Well-Known Member

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    i also just found the total block size of both dwellings is 615 square metres
     
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  12. Sonamic

    Sonamic Well-Known Member

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    That's more like it. You're whole street is old house blocks. Some of the first releases in Caloundra. So the land has already been developed once. Which is what will happen to that house sold in Bombala.
     
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  13. ej89

    ej89 Well-Known Member

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    At 370k you can buy a stand alone house in aura. 250sqm land 190k. Build 140sqm 3 bed 2 bath 1 garage for 150k= 340k. Rental on that would be closer to $400/week or even more
     
  14. MJS1034

    MJS1034 Well-Known Member

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    I wouldn't be buying in Aura. 50,000 new homes and all that vacant land says to me oversupply and very little chance of growth in the short to medium term. Would much prefer to by the other unit in an established location.
     
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  15. Angel

    Angel Well-Known Member

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    No Way! Seriously, would you rent that same property in Aura?

    250m2 land, compared to the now 615m2 just a five minute walk to the beach and immediately adjacent the CBD. EJ89, are you a spruiker?
     
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  16. Bran

    Bran Well-Known Member

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    Only reason to live in this part of the world is the beach. You cannot get there from Aura without a car. Sort of defeats the purpose imo. Caloundra any day
     
  17. ej89

    ej89 Well-Known Member

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    Isnt the 615m2 for both sides together?Calling me a spruiker for offering a different opinion...douche
    I look at prices there pretty often as I have mates who have bought in Aura and made good money already.. I think a 2 bed duplex would not do anywhere near as well as a 3 bed detached home 5 mins down the road.. Like someone mentioned earlier, i cant see a developer buying it and I cant find any recent sales matching it.. But hey I guess everyone elses crystal ball is better than mine..

    If it helps you feel a bit better about the "oversupply", 250sqm of land was 160k 5 months ago and is 190k now...but hey what's 18% growth in 5 months...

    Btw, I wouldnt buy either a new house in aura or a duplex in caloundra.. If I were investing in the sunshine coast it'd be maroochydore
     
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  18. ej89

    ej89 Well-Known Member

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    I wouldn't either.. Just saying he could do that.. Aura and bells reach will also keep his unit prices down for a long time as people will say we can buy a detached house 5 mins down the road for a cheaper price.. Everyone uses a car there.. Public transport is useless. Its a driving city.
     
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  19. Angel

    Angel Well-Known Member

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    But it isn't five minutes' down the road. More like 20.
     
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  20. ej89

    ej89 Well-Known Member

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    8 mins according to google maps.