Investing in Surfers Paradise

[WebBoard]

From: Ivan Asd


Hi,

My name is Ivan and I don't know what to do. I just got my loan approved for $235k. A friend of mine has introduced me to these 2 agents from brisbane home property agency. I think I am been pressured in buying a unit in Surfers Paradise the units a new but i'm not familiar with the area and from the research i have done there is a large number of units for sale over there can anyone help me I'm not sure what to do.

Ivan

 

[Sim]

Reply: 1
From: Sim' Hampel


Simple... if you don't feel comfortable, don't do it. You do need to be able to sleep at night.

I suggest you take some time to research an area you can access easily before you buy. You should have a reasonable knowledge about what is acceptable value in an area before you buy there.

Never let anyone else dictate the pace of your decision making. If you rush into something, you will inevitable make bad decisions and end up regretting it.

Do your research and buy when YOU feel you are ready to.

 

[simonjulie]

Reply: 1.1
From: Simon and Julie M


Ivan
I agree with Sim
Research until you feel comfortable with your choice.
If you make a mistake.Learn from it.
If you you don't research the Gold Coast it could cost you "Big Time"
Kind regards
Simon

 

[WebBoard]

Reply: 2
From: Simon St John


Hi Ivan

Your comment was:

"I think I am been pressured in buying a unit in Surfers Paradise"

I reckon if you feel pressured you probably are being pressured!

The surest way to spot a scam is if you're being told "there's a time limit", "they're going fast" etc.

As Simon says, get it wrong on the Gold Coast and it could set you back for ages. In fact, get it wrong anywhere is bad news, but resort areas are notorious for traps!

Take care and consider some more research of the area, more general reading on property investment, etc. However, don't read too much.....as many in this forum say, just get out there and do it (carefully!).

There's lots of help on this forum from some pretty clever people.

Simon

 

[Ross Sondergeld]

Reply: 3
From: Ross Sondergeld


hi Ivan,

Subject: Investing in Surfers Paradise

Ivan said, "My name is Ivan and I don't know what to do. I just got my loan
approved for $235k. A friend of mine has introduced me to these 2 agents
from brisbane home property agency. I think I am been pressured in buying a
unit in Surfers Paradise the units a new but i'm not familiar with the area
and from the research i have done there is a large number of units for sale
over there can anyone help me I'm not sure what to do."


You need to be pretty careful on the Gold Coast... We've got heaps of
property marketing groups... And quite a few professional property traders.

As a general rule, don't buy a unit in surfers. Primarily because you'll
never make any money long term. (* Pick a building in surfers and i'll show
you... original purchase price and latest sale price.)

By the way... i went to a seminar the other day and the speaker quoted a
source that found, "units lost 40% of their value after 5 years."

Personally, i'm totally against investing in highrise/unit complexes.



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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