After living on the Sunny Coast for years. I could not believe when moving to the Bundaberg region the opportunites here for any form of property investor. I have been here investing for the past six years doing my own thing, especially targeting building projects, which have been unbelievably successful. I have kept to the same formula and it has in a short time provided me with both capital growth and positively geared properties. I feel I have mastered the process in doing this.
At the moment there are coastal areas still undeveloped or should I say haven't been marketed. The push is always Bargara in this area, but I feel investors want to take a better look around. As the economy has affected many areas in Australia, Bundaberg is no exception. However, the rent demand here is crazy. This is the place for investors who want tenants.
I even bought an old property on 4 acres just under an hour from Bundy and people fight over renting it. It cost me a crazy $85k and rents for $265 and I had people literally fighting over it. After I signed a rental contract, I got offered $300 per week.
I am so excited about the property market here that now that I have returned to conventional work (former stay at home investor with lots of kids ha ha), I have gone back as a buyers agent for investors, with of course a passion for investors who want to build. As I said I know this formula well and have worked it well. As I am doing this for other people, I can find opportunities for myself - so I love it, its a win win situation.
The amount of under valued houses due to peoples financial circumstances creates an atmosphere for investors likened to a kid in a candy shop. Its just so easy here at the moment, you just have to wait for the market to change and you've done nothing more than buy a property for a damn good price. The best thing is that there are so many people wanting to rent, so you buy the property under valued and put tenants in at a good price. Too easy.
It is definately a buyers market. I'm looking at a property at the moment across the road from the beach on one acre. It has six bedrooms, three bathrooms, 3 living areas was valued by the bank in this market at this time for $680k, but on the market for $420k. Financial reasons of course, which is terrible, but great for an investor. The land alone on paper from the lands department came in valued at $330k and as we know they are so far under market value its not funny.
Anyway Bundy, it is for me. One word of warning though. Be really careful that you look into the areas and the properties well, if you buy an already established property. Like all places, there are some areas that will not bounce back as well as others. Some areas are flood zoned and believe me they do go under water. Some areas are really really cheap due to housing commission and drug related activity. But there are lots of areas the council is working on reforming. I still think some of the other areas that have a bad reputation here due to the people living there are still a good buy, but the problem is the local valuers have it fixated in their minds that these should be under valued. So your fighting to make equity, just because of this judgmental thought process.
It is what it is however for the time being and there are much better opportunities here at the moment then looking in these areas. As Bundaberg grows this stigma will naturally change anyway, it has done so in lots of areas that I have lived.
South Townsville and West End have now been transformed into the chick area of Townsville. All the old houses that have been renovated etc have actually out classed the idea of modernized building projects etc. I also watched Landsborough and surrounding small districts on the Sunshine Coast begin to thrive and go from what was classed as the feral outskirts of Caloundra and the hinterland of Maleny etc etc.
Bundaberg has Moore Park Beach, Burnett Heads and lots more. Industry is still moving in this area. Rent demand is already high, if the proposed mines etc that are to open up nearby, prices will sky rocket. Its good to look at a place before these types of industry come to a town. Bundaberg has so much to offer. It has proven it can sustain itself through economic downturn as well as natural disaster. Sure we have lost some small businesses after a year or so of a bad economy followed by the floods that is to be expected.
But new ones have popped up in their place. I have a small business also here and have gone through all of this. In fact I bought it just as the economy was starting to fail. It's been fun let me tell you. Anyway you live and learn. I still have it, I have just restructured it to keep it operating in a manner that will benefit my family long term. I think it is important being an investor, that you need to be able to change course quickly if your circumstances change for whatever reason and still be able to have it benefit you.
I am more than happy to discuss areas and investment ideas in Bundaberg. As you can see I am very excited about the potential here. I really think local people in general don't realize the little goldmine they are sitting on.
At the moment there are coastal areas still undeveloped or should I say haven't been marketed. The push is always Bargara in this area, but I feel investors want to take a better look around. As the economy has affected many areas in Australia, Bundaberg is no exception. However, the rent demand here is crazy. This is the place for investors who want tenants.
I even bought an old property on 4 acres just under an hour from Bundy and people fight over renting it. It cost me a crazy $85k and rents for $265 and I had people literally fighting over it. After I signed a rental contract, I got offered $300 per week.
I am so excited about the property market here that now that I have returned to conventional work (former stay at home investor with lots of kids ha ha), I have gone back as a buyers agent for investors, with of course a passion for investors who want to build. As I said I know this formula well and have worked it well. As I am doing this for other people, I can find opportunities for myself - so I love it, its a win win situation.
The amount of under valued houses due to peoples financial circumstances creates an atmosphere for investors likened to a kid in a candy shop. Its just so easy here at the moment, you just have to wait for the market to change and you've done nothing more than buy a property for a damn good price. The best thing is that there are so many people wanting to rent, so you buy the property under valued and put tenants in at a good price. Too easy.
It is definately a buyers market. I'm looking at a property at the moment across the road from the beach on one acre. It has six bedrooms, three bathrooms, 3 living areas was valued by the bank in this market at this time for $680k, but on the market for $420k. Financial reasons of course, which is terrible, but great for an investor. The land alone on paper from the lands department came in valued at $330k and as we know they are so far under market value its not funny.
Anyway Bundy, it is for me. One word of warning though. Be really careful that you look into the areas and the properties well, if you buy an already established property. Like all places, there are some areas that will not bounce back as well as others. Some areas are flood zoned and believe me they do go under water. Some areas are really really cheap due to housing commission and drug related activity. But there are lots of areas the council is working on reforming. I still think some of the other areas that have a bad reputation here due to the people living there are still a good buy, but the problem is the local valuers have it fixated in their minds that these should be under valued. So your fighting to make equity, just because of this judgmental thought process.
It is what it is however for the time being and there are much better opportunities here at the moment then looking in these areas. As Bundaberg grows this stigma will naturally change anyway, it has done so in lots of areas that I have lived.
South Townsville and West End have now been transformed into the chick area of Townsville. All the old houses that have been renovated etc have actually out classed the idea of modernized building projects etc. I also watched Landsborough and surrounding small districts on the Sunshine Coast begin to thrive and go from what was classed as the feral outskirts of Caloundra and the hinterland of Maleny etc etc.
Bundaberg has Moore Park Beach, Burnett Heads and lots more. Industry is still moving in this area. Rent demand is already high, if the proposed mines etc that are to open up nearby, prices will sky rocket. Its good to look at a place before these types of industry come to a town. Bundaberg has so much to offer. It has proven it can sustain itself through economic downturn as well as natural disaster. Sure we have lost some small businesses after a year or so of a bad economy followed by the floods that is to be expected.
But new ones have popped up in their place. I have a small business also here and have gone through all of this. In fact I bought it just as the economy was starting to fail. It's been fun let me tell you. Anyway you live and learn. I still have it, I have just restructured it to keep it operating in a manner that will benefit my family long term. I think it is important being an investor, that you need to be able to change course quickly if your circumstances change for whatever reason and still be able to have it benefit you.
I am more than happy to discuss areas and investment ideas in Bundaberg. As you can see I am very excited about the potential here. I really think local people in general don't realize the little goldmine they are sitting on.
