Macleay Island

[jerrybee]

My mum has a property there. She bought it 20 years ago for about 20-30k. Fast forward to now, it's still worth about that much.

She's tried to sell it but the the three major agents on the island don't even want to reply to our emails. It's near worthless and even for a commission, no one wants to even take a look. Sigh.

So I'm wondering if anyone has any thoughts on the place? It's worth so little that she figures there's no harm just holding it. On the other hand that's 20-30k that could be put to better use elsewhere. Even sitting in the offset account would be better, IMO. During the peak times I heard it was worth upwards of 40-50k, but unleveraged, even a 100% increase still amounts to peanuts.

Any one have any opinions on this? What would you do with this POS?

 

[D_One]

Advertise it privately? Use one of those companies that can place it on realestate.com.au?

 

[Sequin]

Bridges etc unlikely now, I think.
What about the flood/inundation mapping? Can it ever get built on? I think years ago some were sold that just should not have been. What is Redlands doing about sea level rise?
What are the rates? What other costs - mowing, weeding?
If it can never be built on, maybe you should give it away?
What about neighbours or Council? Does anyone want to pay you anything for the land?
What about glamping? Could you develop some basic camping facilities and advertise it for holidays?

 

[Angel]

Advertise it on Gumtree and someone will buy it thinking its a bargain.

 

[DCI]

What is the address and how much!!
Any pics....

 

[jerrybee]

#6 Dinjerra St

Bet she would offload it for anywhere between 20-30k. It's such a dump. lol what a bad investment!