Rocky , The next Big Thing ??

Just got directed to this thread on my return.

This thread reminds me why I love to hate this place.

Fantastic information posted here, shame you have to wade through the BS that ppl continue to post for their own agenda (including this post)

It seems to litter all forums ...

</end useless rant> (sorry I know nothing about Rocky other than whats been posted here)
 
I've been too busy of late to read any posts and only found this one today.

Do people really think that this forum alone can change an entire market place of an area? You guys are seriously kidding yourself.

If someone had an agenda to increase the value of property in ANY area they'd have to come up with a better plan than posting some info on this forum.

Astroboy you need to take a long hard look at yourself, your attack was not in the spirit of this forum. I'd suggest you find another way of getting your point across in the future.

Kev

www.nundahrealestate.com.au
 
I was talking about making this post in the chat room for a long time before I actually made it, as regulars in the chat room will testify to.

One of my concerns about not making it was concerns about hyping up the area, when it may not be an area that is appropriate for everyone to invest in ( hence the due dilligence warnings)

Well, having talked to a couple of agents in the last week , they havn't reported a quantum jump in interest in that period.

All they report is that the interest in the area has been continuing to increase over the last few months.

While Somersoft may act as a guide of things to come, it does not appear to have the power to move the market any more than it is already moving.

see change
 
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To hopefully get all of us who post to cut the bs and continue with more quality. (which makes this place the great resource it is)

Having said that its an aside, a thought, a rant - and labelled as one.
 
Originally posted by see_change
Somersoft ... does not appear to have the power to move the market any more than it is already moving.
Click to expand...

Really ? Damn. There goes that idea.

Oh well.

:D
 
Though I take on board the various opinions and experience of forum members, I always do my own research. Ever the skeptic, I cannot help myself. If the deal looks good, I'll do it.
My properties are returning 9.6% (gross) in Rocky and I bought in July.
 
my 2 cents worth

a couple of years ago i returned to brisbane after working/living/experiencing 2.5 yrs in sydney. brisbane hadn't moved in 10 yrs so everthing appeared to be relatively cheap - about a third of sydney prices for similar property. i had a good salary so i bought up 2-3 bayside properties rented out and negatively geared. all my salary was going to pay the loans etc as rent was low. I have just finished selling up these properties with average capital gains of 75% in the 2 years. not in my wildest dreams did i think 2 years ago that this could be achieved!

I know one thing it wont be achieved again in the next 2 yrs - so i am out of brisbane with the current rent/value yields of 3-4%.

I started looking at realestate.com in regional areas late last year - and found Rocky with heaps of unit blocks with yields of 8-12% and decided that was where i wanted to go.

It took me a while to get out of brissie properties and of course all the good rocky properties were gone by the time i got up there finally 3 months ago.

i ended up getting a block of 4 group titled 3 bed units only 10 years old that are rent for about $175 each for just over 400K.

about 9% yield. As tenants leave i will re-paint myself and push the rents towards $200 within 12-18 mths. (Got a 5 yr fixed interest only loan for 6.1%)

Capital gains - don't know, even if only 5% who cares - they are good quality units - and as long as i can keep them rented and get cpi increases - i am cash flow positive and growing forever and a day!

i think growth in capital cities will now slow - so go for cash flow now i say - the prices in rocky (compared with brissie) are ditto to brissie/sydney 2 yrs ago (about a third the price)

also look at ballina, mt isa, bundaberg, weipa etc
 
Had a chat to couple of agents today.

They report increasing numbers of investors buying up there and increasing difficulty in getting listings.

The number of properties available is continuing to decrease.

Guestimate that prices have moved up about 5K since I first posted.

See Change
 
This forum really is the best as it has such a wide range of views. However there is also a fair amount of green eyed monster going on in here as well. I dont see the need for anybody to be pulled down for offering their point of view. Good on you schange for doing so well with your properties and thanks for the info . I think maybe we have a bit of tall poppy syndrome happening . I think its great that you have gotten so many. We have managed to get 2 in Rocky recently and I would keep going too if it wasnt for those things called banks .

:p :p :D :p :p
 
im with you panto

i agree - as soon as i get another deposit together i will be back ther looking for my second rocky property. It's not a bad place - quite big i thought. i can't see the ass falling out of it.:cool:
 
As soon as someone finds a great PM up in Rocky, may I suggest that those of us dissatisfied with their current PM's unite together to get a better deal and make one competent PM very happy?

We don't have to bag the bad ones (well, not publicly anyway) but we could vote for our favourites :)

What do you think, fellow Rocky investors? How about it?
 
Originally posted by Jacque
As soon as someone finds a great PM up in Rocky, may I suggest that those of us dissatisfied with their current PM's unite together to get a better deal and make one competent PM very happy?
Click to expand...

How many of you have properties in Rocky ?

Why not band together and employ a PM directly between you ?

wage required say: $800pw ?? At 8% fees, = $10,000 pw rent roll, at say $100pw rent average = 100 properties needed.

Hmmm, may not work that well after all.

:) it's the idea that counts. :D
 
PM

im glad you brought this up - the PM i have was the previous owners is quite big in town - initials "PODRE" - they never answer my questions or get back to me.

Are they all the same up there?

Lets band together and get or create a good one - my property is 4 units at $170/week - so there is good commiss there!:p
 
Agents

Have to say, and this is only my experience from up in Rocky, that practically all the agents I struck up there were just NOT interested or willing to put the work in for the sale. One even just gave me the address, told me to drive past and, if the door was open, to knock and ask the "nice old gentleman" living there if he would show us through, and this was a new listing. I asked the agent that, if this eventuated in a sale, would her commissions be waived, seeing as she played no part in it. Me thinks NOT.
JIM

PS. It seems to me that they haven't fully grasped the concept of boom times mentality.
 
I recommend Steve Mayers of Statewide Reality Brokers 07 49270524. I was looking to buy in Rocky and of all agents I found him the best - he came up with a biggest and best choice of properties to my criteria, made appointments, drove me around, fit everything with my schedule, was always happy to help if I wanted to revisit a property, spent as much time with me as I needed. He is only new there, so maybe he is still unspoilt. :) I was a bit slow making up my mind, and the property I set my heart on was sold. I couldn't stay there any longer, and ended up buying land in Brisbane - quite happy with it too. :)
 
I was in Rockhampton a few weeks ago.

There seems to be a real lack of service culture in this town. Maybe I'm too used to the faster pace of Sydney but I couldn't help wondering how a business could differentiate itself simply by providing efficient service.

I also noticed that a lot of retail shops in Rockhampton were closed/vacant (particularly on one side of Fitzroy Street, near the river). Reminded me of a visit to Christchurch New Zealand in 1992 during the recession where about 50% of shops in some areas were empty.

I'd be thinking carefully before investing in Rockhampton for growth. In my opinion Yeppoon and parts of Gladstone have more promise.

I checked out Tannum Sands and Boyne Island-within 20kms of Gladstone. These coastal areas are very pretty and have a lot of industry nearby to underpin growth despite having already risen in value.

Ajax
 
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