A few comments pls

[mech81]

Hi ppl,

Currently looking at a new build - a 4 bdrm house each room with its own ensuite in toowoomba, QLD. Its nesting place is in Darling Heights, 2km south of the city. Came across this development due to some contacts in the IP world.

The plan is lease this place out when finished as a fully furnished place either as a whole or on a room by room basis to either professionals, miners or students. Its walking distance to Uni of South QLD and close to main shopping areas.

I just have a few questions regarding this place:

1) How is Toowoomba's future on the economic side of things? I have been told that its future in the mining economy is picking up as a hub for the Surat Basin and its has other economies it can rely on too.

2) The rental appraisal for this place was told to me as 200/pw per room fully furnished. I have struggled to find any places that are advertised at this rental level. The reason given to me is that this place will fill a new and upcoming demand in Toowoomba's rentals market which is studio based living but within a house (not sure how best to describe this so this is the best thing I could come up with). Its essential that the yield for this place is good as the aim here is for it to be neutral or positive geared. Does anyone have experience with the Toowoomba rental market?

The buying price will be in the mid to high 400s for the land + house package.

Thanks ahead in advance guys.

 

[Aaron_C]

Speaking from my own personal experience renting out rooms within houses - it tends to be a very time consuming exercise. When you are trying to rent room-by-room - it is best to rent to a group of people who know each other, but want their own rooms rather than 4 random people put together. You will find that the place is kept cleaner, and there's less vacancy risk. Just so you know..

 

[BlueRidgeHomes]

Hi Mech 81,
Terry Ryder recently mentioned at a meeting that Toowoomba hot spot.
I like Toowoomba from the perspective of it's scale (large town), proximity to other centres such as Brisbane, base for the Surat Basin and other mining developments, stability - is an established place with multiple industries.
I'll also send you a PM.
Kind regards
Meg

 

[mech81]

Thanks for your replies. I'm still wondering if there is any demand for the sort of rental I'll be building and is Darling Heights a suitable suburb? Will reply your PM Meg