Opinions please Ormeau Qld.

[Blondie77]

Hi All,

I would like some advise / opinions please.

We currently have a IP in Ormeau and if seel will cover cost of purchase price but none of the on going costs of holding the property, insurance, rates etc.... Which has been coming out of our separate LOC for investments only thus still have a good sized debt. We lose if we sell but to hold on longer will keep costing.

Wondering if sell, cut losses but look at investing else where? Or

Sell another IP that has CG to pay down LOC debt but will still leave us with one IP in the market so to speak.

All properties including PPOR are stand alone loans and not crossed.

The structure used for loans was set up by a broker but just doesn't seem to work well? For us maybe? We are not dipping into it as it is solely for Ivestments only.

Your thoughts on the Ormeau area and to hold or sell is valued.

Thanks

Julie

 

[RPI]

GC has had a bad run and the developers are coming back which normally means that the general market is heading north there. My thoughts are that GC is only just off the bottom of their cycle. As to your individual property, what is supply and demand like there? Any thoughts on where it is heading in the future?

 

[Rolf Latham]

Hi Julie

Residex suggests Ormeau will grow by approx 6 % over the long to middle term.

Its neither GC nor Brisbane and that lack of identity may hold it back for a while

ta
rolf

 

[RPI]

Hi Julie

Residex suggests Ormeau will grow by approx 6 % over the long to middle term.

Its neither GC nor Brisbane and that lack of identity may hold it back for a while

ta
rolf

Julie, Rolf's knoweldge is outstanding. If you are not sure about your current lending arrangements his office is not much further south.

 

[tomlemke]

Hi All,

I would like some advise / opinions please.

We currently have a IP in Ormeau and if seel will cover cost of purchase price but none of the on going costs of holding the property, insurance, rates etc.... Which has been coming out of our separate LOC for investments only thus still have a good sized debt. We lose if we sell but to hold on longer will keep costing.

Wondering if sell, cut losses but look at investing else where? Or

Sell another IP that has CG to pay down LOC debt but will still leave us with one IP in the market so to speak.

All properties including PPOR are stand alone loans and not crossed.

The structure used for loans was set up by a broker but just doesn't seem to work well? For us maybe? We are not dipping into it as it is solely for Ivestments only.

Your thoughts on the Ormeau area and to hold or sell is valued.

Thanks

Julie

Hi blondie I have a work mate that's place is nearly ending completion up their so interested as to why your in a hurry to sell he seems to be very happy with the developer he bought through any feedback would be great thanks tom

 

[mikezen]

HTW mentioned things have started to look up in that particular area, also the 9 million development starts next month in up the road in Beenleigh which is positive for this part of the coast