This can't be real 33% growth in 6 months in Main Beach, QLD?

Any suggestions on where to look? I'm keen to avoid strata fees if I can and need property that is as cf+ as possible because my serviceability is low

 

Unless you buy a unit or town house Im not sure you will find +CF on the coast now. If you bought in Nerang or even Southport a few years ago this may have been possible.

 

Its almost always the case that houses have better capital growth and townhouses have better yield. Tim & Chrissy mentioned he was looking at townhouses.

not everyone invests for capital growth. some would favour cashflow over capital growth.

how your friends have not achieved capital growth from townhouses in that last decade on the gold coast, then they overpaid in a big way. My townhome has had a modest increase of 35k in a little under 5 years. located in a similar area. rents have also increased from $275pw to $310pw in that time

 

Bought in the booms I believe....the growth in these areas has probably only happened in the last year or two.
As I said I im no expert though and I dont watch townhouses just houses in the lower end of the market. We have a positive cash flow house in Highland park but like you bought 4 years ago was our PPOR.

 

Do strata fees make their way into cash flow calculations? I always include it in my calculations when I'm figuring out the net yield. I also include rates and insurance.

 

As much as you can. Rates, insurance, council, water. Electricity...

 

I dealt with a buyers agent who would spruik townhouses and villas at, for example, 250k with a 310pw rent rent return. Then I'd find out the strata works out to 100+pw destroying the return.

 

Yes those fees and costs erode your gains.

 

If you avoid places with pools tennis courts and the like you can expect to pay as little as $20 - $30 body corp on the Gold Coast. But with 600k to play with a stand alone home or multiple townhouses are easily achievable in SEQ.

 

Guys just walking around today and looking at places and speaking to buyers and agents. Wow the vibe is really pretty strong. Anything decent being snapped up real quick.

 

Are you an agent or? Sounds like you're pushing GC up quite a bit on the forum...I am not having a go at you but I see every paragraphs you make contain praises (marketing) of GC ...

Just makes me wonder ... lol

 

Nope. Not an agent. Even if I was though it's really a myth that agents "push up the market" as for every potential buyer they also need a seller.

I am quite an experienced and pretty successful investor though. Typically I do invest in things at the right time and I enjoy helping others to consider doing the same.

As for Gold Coast yes I'm very bullish on it.

 

Also avoid places with underground car parks, our PPOR has a large insurance component in our strata fees due to the insurance for $2M worth of concrete .

Other things I see pushing strata up are: Lifts, Gym, any communal gathering area, concierge. Basically anything that makes it feel "Hotelly"

 

He could be the Mayor Tom Tate in disguise

 

As with this suburb, although it's not high end! 12 sales or so in a year all between 200k and 2mil

Beaconsfield Upper - Property Sold Prices

We actually bought one in that list, can't tell whether we got it for a good price!

 

Still on the market 3 months? that tells me it is on the market for unrealistic price?

 

Maybe I should offer them 800 and see what they say

 

Operation Queensland underway!

 

Oh god I wish mate

It will be 10+ years before I move, I need another property cycle in Sydney to make it all work with our PPOR, I "could" do it now but it would cost me 100K+ due to CGT when I sell my Northmead place, my plan is to keep it as PPOR until another cycle happens then sell it off with no CGT .

I had toyed with the idea of one of the IP's being a place we would plan to move into in 10 years but the place would then be 10 years older than it is now and I don't want my own personal emotions to sway the business decision of IP's .

 

Can't hurt, go for it!