Actually Russell has become very popular, due to the lower property prices and lower rentals compared to the mainland. They have had to put on more ferries daily due to the increase in demand from people going to the islands around the area.
Investing in Russel Island
- Thread starter wosabi
- Start date
Lucky Russell.pfsfinance said:
But it's not whether the island is popular or not. It's about whether it's a good investment considering your own investing goals.
Anyone ever noticed that the popular kids at school aren't generally the highly successful ones (though they tend to be moderately successful)?
if you invested in kids based on their popularity your returns would be average.
Cheers,
Aceyducey
I worked over there for a few weeks five yrs ago, hated the place it was dead and the mossies unbelievable, also it seemed to have quite a few unemployed or strange types, my dislike though was probably more due to circumstances of working there and where we had to live etc.
It is pretty much surrounded by swampland but it is an island and not too bad, when I was there I was offered a block of land for one grand which I did not even consider, what would I have done with it?, I was never going back!, but now I think it could turn around, it could be worth anything in the future being an island, for $35,000 I may buy a block.
It is pretty much surrounded by swampland but it is an island and not too bad, when I was there I was offered a block of land for one grand which I did not even consider, what would I have done with it?, I was never going back!, but now I think it could turn around, it could be worth anything in the future being an island, for $35,000 I may buy a block.
In the last 15 years I have had 4 blocks on Russell Island. 2 of the 4 where later changed from residential to drainage problem due to tidal problems. This was due to water accessed the blocks only a few times within a few years. One of them was a waterfornt block on Canaipa Passage which I lost out big time. I was not allowed to build on those dp blocks or add fill to prevent the drainage problem.
The Redland Shire Council is one of the biggest fraud mobs I've met in my life. They changed my land description so they can later resume your land.
Just make sure you get a high, dry block if looking to buy there.
On the other hand if there ever is a bridge linked to the Island there are going to be a lot of rich people out there. It may never happen but if it does it would be nice to have a few blocks waiting, it's a gamble.
The Redland Shire Council is one of the biggest fraud mobs I've met in my life. They changed my land description so they can later resume your land.
Just make sure you get a high, dry block if looking to buy there.
On the other hand if there ever is a bridge linked to the Island there are going to be a lot of rich people out there. It may never happen but if it does it would be nice to have a few blocks waiting, it's a gamble.
Aceyducey said:
Though the 'Millionaire Mind' suggests that there is low corellation between top school results and life success. Many successful people were average or better, but few scored the very top grades.
MM makes much mention of the greater importance of social skills, creativity, persistence, integrity and ability to get on with people than IQ or school grades. There are also comments like 'I'd rather take a good B-grade student who can get on with people than a straight-A without'.
Thus (if that book is right) if you invested in kids based on the above attributes you'd do better than if you went for those labelled 'highly successful'.
As for the island, I don't know the population, but you'd be at the mercy of the ferry operator and local shopkeepers, and outside island life after the ferry service ceases would be restricted (unless you were a good swimmer or sailor). This could be an issue with tradesmen and/or property managers also.
Rgds, Peter
Hi wosabi & others.
Thought you might be interested, in today's newspaper (Sunday Telegragh, Sydney) Ray White Russell Island are advertising land on Russell Island as follows; $25K land ready to build on, $62K land water views, $98K land waterfront, houses from $130K.
Regards
Marty
N.B I have no ties with abovementioned R/E agency (or any for that matter), just thought you may be interested as this thread is current
Thought you might be interested, in today's newspaper (Sunday Telegragh, Sydney) Ray White Russell Island are advertising land on Russell Island as follows; $25K land ready to build on, $62K land water views, $98K land waterfront, houses from $130K.
Regards
Marty
N.B I have no ties with abovementioned R/E agency (or any for that matter), just thought you may be interested as this thread is current
Hi All.
I have a friend who has land over there and have heard a bit about it. Check the details carefully !!! Some people have had land reclassified so they cant build at all, some run out of time very soon now and then you cant build (they issued permits, but they run out - then locked down).
RESEARCH CAREFULLY.
Some good buys, some nightmares.....
Good luck.
Simon.
I have a friend who has land over there and have heard a bit about it. Check the details carefully !!! Some people have had land reclassified so they cant build at all, some run out of time very soon now and then you cant build (they issued permits, but they run out - then locked down).
RESEARCH CAREFULLY.
Some good buys, some nightmares.....
Good luck.
Simon.
Ray White Russell Island are advertising land on Russell Island as follows; $25K land ready to build on, $62K land water views, $98K land waterfront, houses from $130
Marty
imho,
for 25k and if the land is in the high area,and you still have to build a
house with the extra building costs,you would be beter off buying the
a house for 100k ,i know investors who have lived on that island
over a period of time,just do your homework,as it wil be a longterm
investment,the talk has always been around about the Bridge..
good luck
willair..
Marty
imho,
for 25k and if the land is in the high area,and you still have to build a
house with the extra building costs,you would be beter off buying the
a house for 100k ,i know investors who have lived on that island
over a period of time,just do your homework,as it wil be a longterm
investment,the talk has always been around about the Bridge..
good luck
willair..
Russell Is
IMHO if you can't afford North Stradbroke Island then stay on the mainland, like Redland Bay or Victoria Point. Only IMHO, price correction is imminent for the less attractive bay islands. I mean, read about all the factors that impact capital growth, then compare these to Russell Island. Proximity to facilities and servicability might be something to concentrate on. You'll pay more than $150K in the other non-Russell spots, but at least you'll get some growth and the chance of reasonable tenants. More power to those who made 400% CG in a few years. The stupidity created by 'booms' knows no bounds
IMHO if you can't afford North Stradbroke Island then stay on the mainland, like Redland Bay or Victoria Point. Only IMHO, price correction is imminent for the less attractive bay islands. I mean, read about all the factors that impact capital growth, then compare these to Russell Island. Proximity to facilities and servicability might be something to concentrate on. You'll pay more than $150K in the other non-Russell spots, but at least you'll get some growth and the chance of reasonable tenants. More power to those who made 400% CG in a few years. The stupidity created by 'booms' knows no bounds
Hasn't the State Government and Redland Shire Council put a time limit on building on the Islands, including Russell. All land not built on by 2015 will be resumed by the Redland Shire Council and the State Government.
Something I herd they were going to do last year, don't know if it eventuated, as it was a big uproar from investors holding land on the Islands. Something about them wanting to preserve the habitat or along those lines? Worth looking into though! Maybe PSFinance would know somehting about it from searches her clients did before purchasing?
Jarrod
Jarrod Lane Real Estate
Something I herd they were going to do last year, don't know if it eventuated, as it was a big uproar from investors holding land on the Islands. Something about them wanting to preserve the habitat or along those lines? Worth looking into though! Maybe PSFinance would know somehting about it from searches her clients did before purchasing?
Jarrod
Jarrod Lane Real Estate
