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Australian Property Market

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Luke Phillips

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Jul 5, 2017
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Australia
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?
 

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MattR82

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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.
 
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Luke Phillips

Luke Phillips

New Contributor
Jul 5, 2017
13
12
19
29
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.
 
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Luke Phillips

Luke Phillips

New Contributor
Jul 5, 2017
13
12
19
29
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.
 

MattR82

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
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Oct 4, 2015
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Perth
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.
 
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Luke Phillips

Luke Phillips

New Contributor
Jul 5, 2017
13
12
19
29
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
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 4, 2015
854
1,318
425
37
Perth
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.
 

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