Ian.....I stand by what I said....Nth Qld does not offer the same potential as NSW and VIC at the moment.
I agree with Gladstone...as there is alot of infrastructure going in.
I have never been a fan of new property as there is a price premium built in.
As for you querying what makes me qualified to advise...I am not as I have no formal qualifications. What are your qualifications. By the way...the comment I made was not personal...just my thoughts. However, I have reasonable portfolio which has low LVR - 33%.
Since you are happy to offer clarifications, I would be interested to know the following:
1. In regards to the new properties you have bought...what sort of CG growth have you had on these in the last 2-3 years? I buy old stuff...some of them have had 45% CG.
2. What sort of yield are you getting on the newer properties you and your group are buying in N Qld? I am close to 10% on some of my purchases from 2-3 years ago.
3. Since you are in a business...how are you compensated for assisting people with purchases?
4. I note that your portfolio is heavily geared.....i.e. over 75% LVR ($3.5M in equity with $15m in total property holdings - according to YIP)...would be curious to know how you got financing for this? Will it work in the current credit environment? I still have some financing left but it is getting harder even thought my portfolio is less than 33% LVR.
5. Do you feel that there is any risk in investing in over 40 properties in one are of the country? I invest around the country - i.e. Sydney, Adelaide, Melbourne, Brisbane ot mitigate this risk.
I look forward to your response...
Sash: Your comment 'I am not convinced now is the time to buy in N Qld' needs clarification. Exactly why not now, and where would you suggest as an alternative. What makes you qualified to advise people not to buy in this area? As you know I have been investing for a while now and have accumulated a good portfolio, many in North Qld, and I am continuing to purchase in this area. My last purchase was a 4 bedroom house and land in Gladstone, which I bought 2 days ago, and I am very excited by the potential for this purchase. My Senior Sales Manager also bought one at the same time. Hope this clears up a few misconceptions and queries. Cheers Ian Hosking-Richards