There is lots of opportunity for good buying at the moment, before price rises are set in motion. Please contact me direct if you would like more info on the following options:
Byron Bay Real Estate – Close to Beach
This 4 bedroom, 2 bath brick home with a pool has been overlooked at listing price of $1.1M. Great holiday letting possibilities as it is close to Tallows Beach and walk to town. Or leave at current permanent let at $900 PW. Amazing it has not sold already.
Byron Bay Rural Acres in Great Location
Also overlooked are these two large acreages between Byron Bay and Mullumbimby. Both are over 100 acres and in a very good location. $1.1M for 125 acres and a 2-bed house or $750,000 for 132 with building entitlement. With small acreages impossible to find and more expensive than this – what is the problem?
Byron Bay Vacant Lots
Both the Mullumbimby and Bangalow land developments are quickly running out of stock. The tables have turned, where it had been cheaper to buy an established property over “land and construction” deals, it is now the other way. Good lots between $250,000 – $320,000 are now available which means adding a $300,000 house makes it competitive. 10% down and time to settle will means it can be possible to be in profit before you move in. Blocks also available close to Byron for $450,000 – $500,000.
Best Location, difficult house
An auction in June will present a house site that could be one of the best in Byron Bay. It has terrific north east views to the light house and Tallows Beach. If the property goes for under $2M it will be a good buy as the site alone would be worth $1.5M. The house is not to everyones taste but is good for a buy and hold option for anyone wanting to build a tropy home in 5 – 10 years.
Good yield and positive cash flow
As I mentioned last month, investors are now looking at the regions for good income yield. City prices are now unsustainable. Byron Property Search has been finding positive cash flow properties in Lismore and Tweed Heads. $200,000 – $300,000 units return a rental income of 7% gross or better than 5% net.
Real Estate Location of the Month
I am really fond of Cabarita, Tanglewood, Clothiers Creek at the moment. I think real estate investment in these locations close to Byron Bay have real potential because of location and amenity.