Bundaberg QLD
- Thread starter johno
- Start date
Hi Desto
Let's think about that rental vacancy for a minute. If I had 100 rental properties in Bundy, 98 of them would be tenanted and only 2 vacant (on average)...
Gee sounds pretty certain to me
Can you think of anybody who is 98% certain they'll not get sacked, downsized, made redundant, run over by a bus...
One of my pet peeves is people (and I'm not suggesting you're one of them) who always raise the dreaded (drum roll please) VACANCY factor.
If you're selecting the right properties, and listing them at a market rate of rent, they will rent out quickly.
In any event, as part of their risk management strategy when investing, a property investor should be analysing (BEFORE THEY BUY) whether they can cope with an extended period of vacancy. I suggest to you that if an investor's cashflow isn't strong enough to survive such a contingency then they need to buckle down and save a bit more before investing.
Polemic ended
Cheers
N.
B
brains
Guest
You could ring a few agents in Bundaberg yourself and enquire about rental properties, usually gives you a good idea of whats going with things like vacancies, $ bottom and top of rental market..etc...
Dear Johno,
I've been to Bundaberg a few times and to get started I think you could do a lot worse.
Know that you will not get the capital growth that you will get in other areas of QLD. However 10%+ yield is always healthy. Many of those who are knockers of yields will be those who will not be able to hold their properties long enough to achieve capital growth.
Some things to look at and research:
-What industry does Bundaberg have? (Yes sugar is huge.) Where will the tenants get employment to fund the rentals?
-Where will your IP/s be located relevant to the retail area? Understand that Bundaberg has one long main street that all shops are located on.
-Will the massive infrastructure development that is taking/will take place in Gladstone going to have a negative or positive impact on Bundaberg?
-Are there any major development plans for the area?
DaveP is located in Hervey Bay. Maybe he would like to add some more comments to the thread.
Remember research and visit............... Nothing like being there to really know what the research is telling you.
Cheers,
Sunstone.
I've been to Bundaberg a few times and to get started I think you could do a lot worse.
Know that you will not get the capital growth that you will get in other areas of QLD. However 10%+ yield is always healthy. Many of those who are knockers of yields will be those who will not be able to hold their properties long enough to achieve capital growth.
Some things to look at and research:
-What industry does Bundaberg have? (Yes sugar is huge.) Where will the tenants get employment to fund the rentals?
-Where will your IP/s be located relevant to the retail area? Understand that Bundaberg has one long main street that all shops are located on.
-Will the massive infrastructure development that is taking/will take place in Gladstone going to have a negative or positive impact on Bundaberg?
-Are there any major development plans for the area?
DaveP is located in Hervey Bay. Maybe he would like to add some more comments to the thread.
Remember research and visit............... Nothing like being there to really know what the research is telling you.
Cheers,
Sunstone.
Thanks Sun,.....
Yes Im just down the road.
I have a brother who has had his place on the market for over 9 months in Bundie..NiceArea askin abt $270K so its a high category and hasnt been able to sell.
I have another friens who had a duplex who sold it within 2 weeks.
I do not have a detailed understanding of Bundie..current property markets.. but if its anything like Hervey Bay...demand is high and property values are increasing. I just got a notice of a 50% increase in valuation for 1 of my water front IPs.
I would feel that places like Bagara would be a good buying area.
Again you need to do the research..and the numbers...
Hope this helps
Dave P
Yes Im just down the road.
I have a brother who has had his place on the market for over 9 months in Bundie..NiceArea askin abt $270K so its a high category and hasnt been able to sell.
I have another friens who had a duplex who sold it within 2 weeks.
I do not have a detailed understanding of Bundie..current property markets.. but if its anything like Hervey Bay...demand is high and property values are increasing. I just got a notice of a 50% increase in valuation for 1 of my water front IPs.
I would feel that places like Bagara would be a good buying area.
Again you need to do the research..and the numbers...
Hope this helps
Dave P
Hi Johno,
We bought last year in Innes Park, next suburb down from Bargara. I would look along the coast if possible as you will get renters who work in Bundy but want to live near the water. We almost got a oceanfront in Bargara for 310k, but the vendor pulled out at the last minute. A few months later it was re-listed for 385k. Now, you can't find waterfront for under 5 or 600k and this was only just over a year ago. Our property is positive geared and our capital gain is about 50k in just over a year.
We also bought in Hervey Bay around the same time and we have
already had a few real estate agents ringing us wanting to "discuss" our property as it's only a block from the beach. Prices have gone up there, but there are still quite a few good deals to be had.
Good luck,
Kathryn
We bought last year in Innes Park, next suburb down from Bargara. I would look along the coast if possible as you will get renters who work in Bundy but want to live near the water. We almost got a oceanfront in Bargara for 310k, but the vendor pulled out at the last minute. A few months later it was re-listed for 385k. Now, you can't find waterfront for under 5 or 600k and this was only just over a year ago. Our property is positive geared and our capital gain is about 50k in just over a year.
We also bought in Hervey Bay around the same time and we have
already had a few real estate agents ringing us wanting to "discuss" our property as it's only a block from the beach. Prices have gone up there, but there are still quite a few good deals to be had.
Good luck,
Kathryn
