Paul Pasin has several investment properties on the northern Gold Coast, inluding Arundel, which has been identified as one of the Coast’s top investor hotspots. Picture: Glenn Hampson
Landlord Paul Pasin has been buying and selling homes in Brisbane and the northern Gold Coast since moving to the area 20 years ago.
His portfolio is made up of a mix of units and houses, including a property that he is currently renovating in investor hotspot Arundel.
The suburb came in as the second best place to invest in units in The Gold Coast Bulletin’s Make Your Move report, the with median prices up 27 per cent to $492,000, and generating a yield of 5.6 per cent.
Mr Pasin said his strategy when starting out in investing was to home in on suburbs at the cheaper end of the market – currently that is between $400,000 and $600,000.
As a start-up investor, Paul Pasin looked for cheaper properties, to keep his expenses down, allowing him to provide more affordable accommodation to tenants. Picture Glenn Hampson
“As a start-up investor it means the mortgage will be cheaper and general costs lower, but there’s a lot of potential, particularly in long-term rental yields and retaining tenants,” he said.
“There are bargains out there if you really look.”
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Proximity to amenities, particularly waterways and parks as well as shopping centres and schools was also a big consideration when looking for a potential investment.
“Arundel is great because it is surrounded by good schools, is close to shopping centres, is in the light and heavy rail corridor, as well as having easy access to the M1 for anyone travelling to Brisbane for work.
8/24 Amsonia Court in investor hotspot Arundel is on the market for offers over $465,000.
“There is also a really good community feel here, which I think is important when considering the location of an investment property that will attract families and long-term tenants.”
Mr Pasin, who works in public welfare, said buying-in to the lower-end of the market allowed him to provide rentals to people that were more affordable.
“In the current housing crisis, I appreciate that it is difficult for some people to pay their rent,” he said.
A three-bedroom unit at 41/120 Highfield Drive, Merrimac, is open to expressions of interest. Merrimac has been identified as a top investor hotspot.
“I try to keep rents reasonable, without going backwards, of course. Obviously any investor is in the game to make a profit but as long as I can keep my costs covered, I would rather help a struggling tenant to keep a roof over their head than chase higher rents.
“When I bought my first property, interest rates were 17 per cent, but in recent years the low rates have been a godsend and have allowed me to positively gear all my properties, so I can afford to pass that good fortune on to those who need it more than I do right now.”
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