gold coast property

[WebBoard]

From: Anonymous


I am on holidays on the coast and have been looking to purchase a property for long term investment. I would like to know from anyone with experience on the coast the areas that look promising for capital gain and also recommend a professional manager to trust.
Criteria close to beach shops transport price to 300k. Thankyou

 

[Peter_Tersteeg]

Reply: 1
From: PT Bear


The experience of people close to me in the Gold Coast has been negative. Over a ten year period, they bought an apartment, rarely had it rented and then sold it, with zero capital gain after costs.

The original purchase was an emotional decision (made during a holiday) and they did not due their due diligence. Their extended story also indicates that the area was full of sharks. They did however, have some great holidays there - they still don't really understand the opportunities they lost.

I'm sure an investor could do well in almost any area, but they'd have to know the market place very well. I wouldn't recommend buying because you enjoyed a holiday there. Put your money in an area you know well.

PT_Bear

 

[Ross Sondergeld]

Reply: 2
From: Ross Sondergeld


Hi Anonymous,

GOLD COAST PROPERTY

You said, "I am on holidays on the coast and have been looking to purchase a
property for long term investment. I would like to know from anyone with
experience on the coast the areas that look promising for capital gain and
also recommend a professional manager to trust.
Criteria close to beach shops transport price to 300k. Thankyou


Well... the market has gone BOOM... and it's going crazy at present.
Property prices have jump 20%+ in 6 months. Give me a call if you'd like
some assistance.




Ross Sondergeld ~ Buyer Agent

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
" Imagine buying real estate the easy way...
...with a Buyer Agent on your side!!! "

Buyerside Real Estate Mobile 0412 289 464
Office 9b, 34 Glenferrie Drive Office (07) 5562 1555
East Quay Corporate Park Fax (07) 5562 1248
Robina QLD 4226, Gold Coast [email protected]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Date: 1/5/02 13:57 +1000




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[WebBoard]

Reply: 2.1
From: The Wife


Hi Anonymous,

Why anonymous? Its a fair enough question,

I would have to agree with replies so far, you shouldnt be buying on holidays unless you are very disciplined. I know people who have brought property on the Gold Coast and their lives have been decimated! Because of a combination of not so good property , ultra bad property management, poor due diligence, and emotional buying.
This was also NOT their area of expertise, they had other 'jobs' and just wanted to invest for long term growth, so they didnt want to know about it, it looked pretty, they could afford, and they brought it.

But, I also know some that have done well, I also spent a few days up there with Dave De Moor ( Australian Property Investor Magazine writer, real estate Investor, he does some GC investing), I have to say I went up to discuss GC property, highly sceptical (Dave your a sweetie but you ARE a real estate agent ), I was not there to buy, and Dave wasnt there to sell, we were just there to discuss the merits of it, he was going to show me, how to pick good property on the coast, and show me what he had and the ways he did it.

Ok, It was an amazing few days, he has a lot of smarts in his head, he totally changed the way I think about Gold Coast property ( i didnt not like it before, but boy am I now a bit more savvy), Dave WALKED me all over the darn place and showed me what was good or bad, and why. I am now a Gold Coast convert. This is not an endorsement for Gold Coast, Due Diligence is SO SO SO needed. But there is money to be made there( as there is in most markets if you look hard enough).

I would say if you are unfamiliar with the coast, Dave DeMoor wont be there ( he is home now), but get in contact with Ross Sondergeld, he is the buyers agent, I personally have had no need to use him , but if I had to recommend someone who knows the Coast, it would be Ross, and I hear he is a nice guy as well.

Due diligence of the Extreme is the key.

Good Luck,
TW
~Life is a daring adventure, or nothing at all~

 

[Ross Sondergeld]

Gold coast proeprty

Reply: 1.1
From: Ross Sondergeld


Hi PT Bear,


Subject: gold coast property

BT Bear said, "The experience of people close to me in the Gold Coast has
been negative. Over a ten year period, they bought an apartment, rarely had
it rented and then sold it, with zero capital gain after costs."

Well, i agree on UNITS... but disagree for homes in central locations.

Units on teh Gold Coast are an extremely poor investment if your looking for
capital growth. (* Pick a building and I prove it to you.) Normally when
people buy a new unit they pay a premium... then the price drops and
basically levels out.

Meanwhile, most property with land content does well over 2 property cycles.
And if you've owned something on the gold coast over teh last 6 months you
should have made $50K to $100k.

Anyway... enough of my talking.



Ross Sondergeld ~ Buyer Agent

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
" Imagine buying real estate the easy way...
...with a Buyer Agent on your side!!! "

Buyerside Real Estate Mobile 0412 289 464
Office 9b, 34 Glenferrie Drive Office (07) 5562 1555
East Quay Corporate Park Fax (07) 5562 1248
Robina QLD 4226, Gold Coast [email protected]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


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[WebBoard]

Reply: 2.1.1
From: Chris Noy


Hi All. My name is Chris, I apologise for the anonymous,not use to the forum, mostly read and don't post.
I appreciate the response to my questions.
I will endeavor to follow through with the research and do agree that it requires due care.
Why did I pick the coast there is a number of reasons one we come up at least 3 times a year and we enjoy the climate the other is we have been very successful in Sydney and pay considerable land tax (no reason to change but may eventually live on the coast)
Thankyou to all
Regards Chris