The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Australian Property Market

MattR82

Gold Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
178%
Oct 4, 2015
1,394
2,480
41
Brisbane
G'day from down under!

wanted to know anyone on here has bought/owns any real estate in Australia? and if so do you have any lessons/stories you'd like to share?
Ha... way back when I had more money than sense, I bought a house and land package near Coomera/Pimpama, Gold Coast. Billions of infrastructure investment on the way apparently! Haha.

Not exactly the most affluent area so my first tenants did 25k damage to a brand new house in the first month lol. Plus, obviously paying overprice with a house and land package. Dumb.

I feel like the best "group/buyers agent" to get advice from here if you really need it is Propertyology. But hopefully you can learn it on your own.
 

Luke Phillips

New Contributor
Read Fastlane!
User Power
Value/Post Ratio
100%
Jul 5, 2017
13
13
33
Australia
Ha... way back when I had more money than sense, I bought a house and land package near Coomera/Pimpama, Gold Coast. Billions of infrastructure investment on the way apparently! Haha.

Not exactly the most affluent area so my first tenants did 25k damage to a brand new house in the first month lol. Plus, obviously paying overprice with a house and land package. Dumb.

I feel like the best "group/buyers agent" to get advice from here if you really need it is Propertyology. But hopefully you can learn it on your own.
If you dont mind me asking, how long ago was that?

sorry to hear that, thats rough! yeah I've heard some horror stories with people buying h&l packages, hopefully it didnt completely wipe you out.
 

Luke Phillips

New Contributor
Read Fastlane!
User Power
Value/Post Ratio
100%
Jul 5, 2017
13
13
33
Australia
If you dont mind me asking, how long ago was that?

sorry to hear that, thats rough! yeah I've heard some horror stories with people buying h&l packages, hopefully it didnt completely wipe you out.
I have heard of that group before, i will have to check them out.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

MattR82

Gold Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
178%
Oct 4, 2015
1,394
2,480
41
Brisbane
If you dont mind me asking, how long ago was that?

sorry to hear that, thats rough! yeah I've heard some horror stories with people buying h&l packages, hopefully it didnt completely wipe you out.
Around 2013. Make sure you research the shit out of your property manager and ensure they stick to the strict terms they say they have for reviewing potential tenants.

It didn't wipe me out, but gave me grey hairs and terrible cash flow for a long time.
 

Luke Phillips

New Contributor
Read Fastlane!
User Power
Value/Post Ratio
100%
Jul 5, 2017
13
13
33
Australia
Around 2013. Make sure you research the shit out of your property manager and ensure they stick to the strict terms they say they have for reviewing potential tenants.

It didn't wipe me out, but gave me grey hairs and terrible cash flow for a long time.

Was there any growth in the brisbane/goldcoast market at that time? 100% I've heard a good property manager can be worth their weight in gold and a bad one can set you back years.

do you still invest in Aus today?
 

MattR82

Gold Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
178%
Oct 4, 2015
1,394
2,480
41
Brisbane
Was there any growth in the brisbane/goldcoast market at that time? 100% I've heard a good property manager can be worth their weight in gold and a bad one can set you back years.

do you still invest in Aus today?
Kinda too simple to put it that way, when you can split it up between house/apartment/beachfront/inland and a million other things.

I don't have property anymore. There's people here that would know way more than me, but that was my dummy lesson I thought I'd mention.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

SWHi

New Contributor
User Power
Value/Post Ratio
156%
Jun 25, 2020
9
14
Sydney, Australia
I don't own property myself but i've been building in Sydney for about 7 years, I know for myself that when i'll be buying something it will be an older house or one away from the new housing estates, guaranteed nightmares to come out of those new house and land package houses the majority of them are built pretty poorly. Everybody wants to throw them up as fast as possible because 'the builders don't pay enough'. Everybody gets away with it because the certifiers come for about 5 minutes to run a half assed check over and hurry off to the next house.

I haven't worked on new stuff for about 2 years so maybe things have changed but I highly doubt it, i'd be very weary of this sort of stuff i've seen some families go through some hell after a couple of years living in their 'brand new' home.
 

Roughneck

Bronze Contributor
FASTLANE INSIDER
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
189%
Oct 14, 2018
113
214
I don't own property myself but i've been building in Sydney for about 7 years, I know for myself that when i'll be buying something it will be an older house or one away from the new housing estates, guaranteed nightmares to come out of those new house and land package houses the majority of them are built pretty poorly. Everybody wants to throw them up as fast as possible because 'the builders don't pay enough'. Everybody gets away with it because the certifiers come for about 5 minutes to run a half assed check over and hurry off to the next house.

I haven't worked on new stuff for about 2 years so maybe things have changed but I highly doubt it, i'd be very weary of this sort of stuff i've seen some families go through some hell after a couple of years living in their 'brand new' home.

Mate, things haven't changed. I have had a friend of mine call me last year to tell me the cornice in the laundry just fell off. I went and checked it out, sure enough - the cornice around half the laundry had fallen off because it was only held on by 2 spots of cornice glue. Dodgy. Not to mention that it was brick veneer and the rear sliding door was smaller than the brickwork on the outside. Instead of fixing it, you they just left an air gap the size of a full course of bricks! You could see wiring and the timber frame.

In terms of owning property in Australia. I've done a little bit, in fact the missus and I have been talking about potentially getting back into it - kids have put bit of a halt on things.

We have done 2 reno's and bit of a subdivision. Our latest project was a owner build which has worked out pretty good, but has been a lot of hard work!
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top