Brisbane / Gold Coast

[BJS]

Firstly I admit (apologise) that I am a "newbie". I have just read an interesting line of replies to a post from "Lily" re properties on the Gold Coast and comments from GeoffW and (sorry - can't recall) another poster from "BrisVegas" .

Anyway, I have been to a few meetings down here in Melbourne from companies from Qld and they are ALL saying that Brisbane and the GC are the places to invest. This is based on: Govt stats showing major pop movement over next 50 years (?); "massive" developments to outer Brisbane areas and same development around Southport. To support this, newspapers down here will say that rental is on way down in Melbourne (returns that is).

So, please, to anyone - but especially those in Qld - is this true? or are we just being conned. Please remember how "scary" that first purchase is and then consider what it's like to be considering another state!! I don't really care where the action is, as long as it is what is is cracked up to be.

Thanks

 

[Les]

G'day BJS,

Beware - the data being given sounds correct to me, BUT it is the "followup" that could be dangerous to you. i.e. if this is a "marketing mob" that is going to fly you to Qld free of charge, your alarm bells should start ringing.

In short, the actual data they are propounding is arguably correct (I am continuing to buy in that area). Just be alert to what they are leading to ("We just happen to have these fantastic 3bdr/2ba houses that are going so fast - but we can let you have one for $250k, with a rental guarantee to boot").

If this sounds like their spiel, then be VERY careful - there are "some" reputable organisations doing this - but there are also a number of DISreputable orgs doing the same thing.

The one MAJOR way to ENSURE you are not being conned is to flag away all of their valuations, and commission your own valuation - from ANYONE else out of the yellow Pages. Sure it may cost you $150 to $200 - but it just might SAVE you $40,000 !!!!

Fortunately, Qld NOW has a "cooling-off" period (5 days) but, I believe you can "choose" to negate this. If I were in a marketing company (who wants to scam the buyers) I would want to ensure that buyers all signed to NEGATE the cooling-off period. So, just tread carefully. Be VERY sure of what you are signing if you choose to go with this group (whomever they are). If they are kosher, then it might have cost you an extra $150 for your SANF. If they are NOT kosher, this $150 might have been the BEST Insurance policy you have bought in your entire life.

Regards

 

[Aceyducey]

BJS,

Don't apologise for being a newbie - we all start out there

I always think that if the deals pushed by marketers are so good, then why don't the locals who know what's happening in QLD buy them all. As soon as they go interstate or O/S (I'm waiting for NZ properties to be marketed here) it must be because there are more properties than buyers in QLD....likely an oversupply. But do your own due diligence, there may be good deals.

However, why not consider looking for a good investment closer to home (whether you actually buy or not) to work out your criteria for a good investment, explore the ins & outs of property and get an understanding of your own risk tolerance before subjecting yourself to the added pressure of a marketer pushing you to BUY NOW! and who makes their money from selling the property they advocate.

If nothing else, you'll gain some experience in assessing investments and be able to ask the right questions when you do speak to the marketers.

And don't stress about missing out on a great QLD deal, I assure you that there will be more deals in the future.

The right time to buy is always now, but you have to be mentally ready and geared up to make the right decision for you

Cheers,

Aceyducey

 

[BUNDY]

BJS,

If you are intersted in investing in Brisbane/ the Gold Coast, then it may be worth your while to fly up and do your own research. I agree totally with steering clear of these interstate marketeers.

Fly up, do the rounds of the agents and inspect a heap of properties, then gor from there. You can also do some research on properties through the internet to get a feel of pricings, sales and areas.

I agree with the growth figures for Brisbane and the Coast. They have experienced fantastix growth in the past 12-18 mths, which was well overdue.

Best of luck

BUNDY