What's the difference? Two Redcliffe Properties

Jenko said:
Have you been to Redcliffe's before Steve?
Click to expand...

Morning Jenko,

Nope I haven't been before but plan on going up during January for two weeks. I was thinking if I buy before I go up there I can work on the property for two weeks in Jan (I'm a chippy), then trying get some higher yield.
 
Steve, considering that the price of a flight is a couple of hundred dollars can you afford not to go up and inspect to get a feel for the area and the extent of the work required? An estimator always goes to the site to get an understanding of the site conditions as it reduces the unknowns. (ps. I don't know how many ips you have, your budget, price range or what the photos reveal).
 
Good morning.. I have a property at Scarborough I bought about 8 months ago. I have only visited the area 3 times in my whole life and every visit was a day trip so I'm defiantly no expert. Weeks leading up to our day of property shopping I would scan properties on the net like Realestate sites, Council and Google earth. I thought I had a pretty good understanding of the area. It wasn't until I visited and drove up most of the streets did I really get it. Talking to most of the Realestate agents in town they all talked about "east of Oxley" if you look on a map Oxley Ave is a main street that runs parallel to the coast from Wood Point through Redcliffe's to Scarborough. This area just seems to have a different vibe about it, most properties on the eastern side of this street are with-in walking distance to the beach, shops, coffee shops, eateries, public pool and park, etc which dot the esplanade and are easily excess able via a footpath/bike track. It runs most of the coast like line. Most of the house blocks are 405 squares and when we where looking we found two vacant blocks (houses removed) going for between $360 and $380k. The funny thing is we where finding livable houses on the same size blocks going for less. We ended up buying a 3x1x1 house for $320k renting for $350 pw.
These are getting rare but I think they still come up from time to time. This isn't an accurate example but something I found with a quick search http://www.realestate.com.au/117394683
I'm not saying the area on the other side of the road isn't good it's just different. I guess the main thing here is the cost of visiting the place maybe for a weekend before you invest hundreds of thousands of dollars might be money well spent.. Just putting it out there only my opinion of course.. Good luck with your investing, I'll be interested to see how you go.
 
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