Optima Wealth Solutions & Townsville Property Market

[beachy]

Hello,

A friend of mine in Melbourne has had discussions with this company with doing house and land package in Kelso, Townsville. Around $400,000 - expected rent: $400 per week.

Anyone had any experiences - good or bad with Optima?

Anyone on the ground in Townsville that can tell me what is happening there? Good time to invest. I heard a lot of mortgagee sales were occurring there, but I could be wrong.

Many thanks.

 

[Brady]

Havent looked at either the group or Townsville. But my guess is not good.

 

[strongy1986]

Hello,

A friend of mine in Melbourne has had discussions with this company with doing house and land package in Kelso, Townsville. Around $400,000 - expected rent: $400 per week.

Anyone had any experiences - good or bad with Optima?

Anyone on the ground in Townsville that can tell me what is happening there? Good time to invest. I heard a lot of mortgagee sales were occurring there, but I could be wrong.

Many thanks.

I would run as fast as possible

Having said that we just settled on an ip in townsville. I think it's really underrated. I can't understand all the cairns talk - high unemployment
At least Townsville has a strong economy

Just watch for insurance premiums - killer
You really want 6% yield at minimum

Also if your looking to buy don't get sucked into those outer house and land areas - buy inner city or beachside

 

[Rolf Latham]

residex suggests kelso will be okish and nothing stellar

They have however been wrong before in both directions

ta
rolf

 

[strongy1986]

residex suggests kelso will be okish and nothing stellar

They have however been wrong before in both directions

ta
rolf

Plug Kelso into Google maps

Doesn't really look like a wise investment

 

[hugh72]

Townsville's unemployment rate Nov2014 was 8.7 vs 7.8 in Cairns - source Australian Gov Dep of Employment dispite Fed Gov attempts over the years to make Townsville the unofficial capital of North Qld.

 

[strongy1986]

Townsville's unemployment rate Nov2014 was 8.7 vs 7.8 in Cairns - source Australian Gov Dep of Employment dispite Fed Gov attempts over the years to make Townsville the unofficial capital of North Qld.

Yeah fair enough, they have lost a lot of jobs in the last year or two. The place we bought for 398k sold for 480k in 2007 - so a good counter cyclical purchase I hope
Wages are also higher on average in Townsville than Cairns

I read that youth unemployment in cairns is 20.5% compared to Townsville at 10.5% - abs feb 2014
That would be a more worrying statistic to me because it shows a generational attitude problem

 

[hugh72]

Looks like a good buy, shows how strong regional Qld economies were in 2007 the market was very hot then.
Wages are definitely higher on average in Townsville probably due to the massive Gov payroll

 

[strongy1986]

Looks like a good buy, shows how strong regional Qld economies were in 2007 the market was very hot then.
Wages are definitely higher on average in Townsville probably due to the massive Gov payroll

One thing to be aware of is that townsville a new city plan allows all general residential blocks to be dual occupancy - just have to pass building codes
Also min block size is 400 so there is a tone of splitter blocks to be had

If you found a splitter block in the right zone and subdivide you can theoretically generate 4 income streams - building there is expensive though