very good advice, this obsession to buy new will end in tears for many, still some very good buys around for those who are prepared to look
Gladstone QLD - How is it Going????
- Thread starter charlieandkath
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very good advice, this obsession to buy new will end in tears for many, still some very good buys around for those who are prepared to look
another obsession i don't get is leasing to corporates, they are in most cases very bad payers.
they treat the lease like an invoice, pay in 60-90 days.
many of the local agents actually advance the rent to the landlords before they get paid so landlords can pay mortgage etc, it is a nightmare for them to chase up all the time. They are not so keen on the direct debit style of payment, everything needs to be signed off.
i have a couple of places rented to rio tinto but it is safer long term to rent directly to someone than a company, u didn't want a vacancy when rio tinto dumped 300 houses in one go a couple of years ago, rents went dropped 20% and vacancy rates hit 8% and that is the risk with corporates your house can be caught up in a flood of rental properties on the market at same time. Who is going to want to rent a sh**box, miles out of town, with no garden that is terribly built ? As the bears would say the rising tide covers many mistakes but when it goes out you are left exposed. just my two cents.
they treat the lease like an invoice, pay in 60-90 days.
many of the local agents actually advance the rent to the landlords before they get paid so landlords can pay mortgage etc, it is a nightmare for them to chase up all the time. They are not so keen on the direct debit style of payment, everything needs to be signed off.
i have a couple of places rented to rio tinto but it is safer long term to rent directly to someone than a company, u didn't want a vacancy when rio tinto dumped 300 houses in one go a couple of years ago, rents went dropped 20% and vacancy rates hit 8% and that is the risk with corporates your house can be caught up in a flood of rental properties on the market at same time. Who is going to want to rent a sh**box, miles out of town, with no garden that is terribly built ? As the bears would say the rising tide covers many mistakes but when it goes out you are left exposed. just my two cents.
Some of the homes I have seen in the areas Rooster mentions are average at best and the build price is ridiculous.
The new trend is the have an "alfresco" area instead of a Patio. What is wrong with the word Patio or Verandah?
Anyway you wouldn't fit 2 chairs and a table on them.
Disgraceful.
The new trend is the have an "alfresco" area instead of a Patio. What is wrong with the word Patio or Verandah?
Anyway you wouldn't fit 2 chairs and a table on them.
Disgraceful.
thats why it is best to ride a king tide. karratha has been an incoming king tide for donkeys years..... and people reckon its too risky! I probably still have emails from SSers telling me that $320k for a house and land in karratha was outrageously risky (one trick pony, what about when the gas runs out or china this and warren buffet says that, new houses are shonky and the builder doesnt have a good reputation and they will build mining camps and there will be a flood of stock and the town sucks, too many flies and who wants to live near the mud flats anyway??). fast forward 5 years and the same houses are worth $1m and the rents have tripled/quadrupled. I made millionaires from some of those H&L deals
actually I should add that often the bigest objections come from locals - it can be hard to accept change or understand why the value of somehting has permanently altered. But like with nay property investment, the only thing that matters is the balance between S and D.Replacement costs, marvellous water views, a thumping night life is all irrelevant
whats happening with the rentals these days ?
i have an average 3 bedder on a decent block just in behind the hospital.
i wanted to put it up to $475 per week but my PM thinks $425 per week is more realistic.
I remember only a month or so back there was hardly anything under $500k a week......
i have an average 3 bedder on a decent block just in behind the hospital.
i wanted to put it up to $475 per week but my PM thinks $425 per week is more realistic.
I remember only a month or so back there was hardly anything under $500k a week......
I think your memory may be hazy. That is one hell of a yield!
Rooster
i am not greedy happy to rent mine out for $450k a week
Well it seems the H+L package in Glen Eden for $489K that I was interested in actually was on a sloping block. The group I'm with suggested not getting involved. Question - what's wrong with a sloping block? I saw a 618m2 one in New Auckland for $160K 2 days ago on realestate.com.au which I initially though would be a great buy ?!
Got in on a NRAS townhouse deal in Mackay yesterday (that apparently sold out in 3hrs!) yielding 8% that I'm pretty happy about. Will be interesting to see which of these two towns performs the best in the long run.
Appreciate the advice and help
cheers
Stephen
Got in on a NRAS townhouse deal in Mackay yesterday (that apparently sold out in 3hrs!) yielding 8% that I'm pretty happy about. Will be interesting to see which of these two towns performs the best in the long run.
Appreciate the advice and help
cheers
Stephen
finally got here
just want to share my experience of first 'field trip' and ask some advice from all of those in the know
the chance came when i got a 2 week work post to bundaberg and i planned it so that i have 3-4 daytrips to gladdy during this time
been watching the market for the last few months and thanks to rooster/bt and all who contributed
so i finally touched down in bundy on a saturday afternoon
i was ready to go...then i couldn't find a coppy of the gladstone observer, everything bar IGA was shut
got up early the next day and took the two hour drive
compared to sleepy bundy, gladstone is one buzzing place, lots of activity
got hold of a local domain paper and probably saw 6-7 properties as well as a visit to the various newer estates, not as many opens as saturdays
it seems that price have indeed moved at least 20-25% from a few months ago
which is a shame because of all the CG that i missed out on
good on those who got in
a few 3 bedders starts in the low 4s and the two 4 bedders starts in the 5s
yields of 6%ish, on new rental levels
there is almost nothing under 4 for a house
one 70s 3+1 in clinton near airport asking 439 down from 445 (sold less than 2 years ago for 310), one termite damaged old highset in kin kora at the same price that i have no doubt would have sold under 4 a few months ago
there seems an increase in rental stock and reduction of sale stock
one agent confirmed the softening in rental demand
a few articles i read when researching the contruction workforce movements indicate that while we may be a year or two from the peak but a significant majority have arrived
that might explain the increase in rental stock as the arrivals slow and more stock especially the newer comes on the market
i think someone mentioned that when the workforce arrive then it is all real and go
i guess now i have seen it first hand to believe it
just hope the horse has not bolted
anyway will be back again tomorrow
just a few questions to the experts here
1. re: clinton area, how close to the airport is considered too close?
2. how close to the river (blocks) do sandflies become a problem in west gladstone?
3. is all barney point apart from the esplanade/HDZ bad, if so is it due to pollution or demographics? there are some nicer elevated houses looking over the harbour but that won't be good if you can't breathe...
just want to share my experience of first 'field trip' and ask some advice from all of those in the know
the chance came when i got a 2 week work post to bundaberg and i planned it so that i have 3-4 daytrips to gladdy during this time
been watching the market for the last few months and thanks to rooster/bt and all who contributed
so i finally touched down in bundy on a saturday afternoon
i was ready to go...then i couldn't find a coppy of the gladstone observer, everything bar IGA was shut
got up early the next day and took the two hour drive
compared to sleepy bundy, gladstone is one buzzing place, lots of activity
got hold of a local domain paper and probably saw 6-7 properties as well as a visit to the various newer estates, not as many opens as saturdays
it seems that price have indeed moved at least 20-25% from a few months ago
which is a shame because of all the CG that i missed out on
good on those who got in
a few 3 bedders starts in the low 4s and the two 4 bedders starts in the 5s
yields of 6%ish, on new rental levels
there is almost nothing under 4 for a house
one 70s 3+1 in clinton near airport asking 439 down from 445 (sold less than 2 years ago for 310), one termite damaged old highset in kin kora at the same price that i have no doubt would have sold under 4 a few months ago
there seems an increase in rental stock and reduction of sale stock
one agent confirmed the softening in rental demand
a few articles i read when researching the contruction workforce movements indicate that while we may be a year or two from the peak but a significant majority have arrived
that might explain the increase in rental stock as the arrivals slow and more stock especially the newer comes on the market
i think someone mentioned that when the workforce arrive then it is all real and go
i guess now i have seen it first hand to believe it
just hope the horse has not bolted
anyway will be back again tomorrow
just a few questions to the experts here
1. re: clinton area, how close to the airport is considered too close?
2. how close to the river (blocks) do sandflies become a problem in west gladstone?
3. is all barney point apart from the esplanade/HDZ bad, if so is it due to pollution or demographics? there are some nicer elevated houses looking over the harbour but that won't be good if you can't breathe...
Ok
1) Draw a line from western end of the airport at Anderson St along to J Hickey Ave then through to Chapman Drive then along to the Dawson Highway and then to the eastern end of the airport runway. This is an older area and consider "less" desirable.
2) When the sandflies / mozzies are bad they effect 90% of the town. The closer to a river, creek etc the worse they are.
3) Alittle of "A" and alot of "B". Any of the areas near the coal terminals etc can have coal dust issues. Barney point has potential to be a nice area but it could take a long time.
My business partner and I just picked up a bargain, $369k for a 3 bed house on 800 sqm, zoned high density in West Gladstone, pretty flat block of land. Expect to get 5 x 3 bed, 2 bath townhouses on it. (Zoned for up to 8 units). Very fortunate we were in town at the time, or would have missed out on the deal.
Love this town.
Love this town.
My business partner and I just picked up a bargain, $369k for a 3 bed house on 800 sqm, zoned high density in West Gladstone, pretty flat block of land. Expect to get 5 x 3 bed, 2 bath townhouses on it. (Zoned for up to 8 units). Very fortunate we were in town at the time, or would have missed out on the deal.
Love this town.
well done , nice!
My business partner and I just picked up a bargain, $369k for a 3 bed house on 800 sqm, zoned high density in West Gladstone, pretty flat block of land. Expect to get 5 x 3 bed, 2 bath townhouses on it. (Zoned for up to 8 units). Very fortunate we were in town at the time, or would have missed out on the deal.
Love this town.
Well done Matt
My business partner and I just picked up a bargain, $369k for a 3 bed house on 800 sqm, zoned high density in West Gladstone, pretty flat block of land. Expect to get 5 x 3 bed, 2 bath townhouses on it. (Zoned for up to 8 units). Very fortunate we were in town at the time, or would have missed out on the deal.
Love this town.
Good work. What sort of time frame would you require to build something like this and what would be a ball park figure to build these?
I have a DA currently at Gladstone council for 2 townhouses that I am building on the back of an existing house. I started talking with recommended builders this week and was advised by one that they couldn't start anything new for a year! Plenty of work on at the moment.
Costs are expected to be higher than in main centres, currently allowing about $1600 per sqm, but still to get firm quotes. I expect that my 2 townhouses would take around 8 months to be constructed and the 5 townhouses, around a year to build, once the builder is able to start. In total, from purchase to completing, expecting 18-24 months timeframe.
My business partner and I just picked up a bargain, $369k for a 3 bed house on 800 sqm, zoned high density in West Gladstone, pretty flat block of land. Expect to get 5 x 3 bed, 2 bath townhouses on it. (Zoned for up to 8 units). Very fortunate we were in town at the time, or would have missed out on the deal.
Love this town.
Did you grab the one in flinders st its been sold a few times?
Just out of interest the one your putting the 2 x t/houses on the rear how big is the block? Im currently got one on just over 900 and were in the midest of subdividing that for a 4 bedder on the back...
