1st Invesment Qld Nerang or regents park Logan

Discussion in 'Where to Buy' started by Katie, 2nd Feb, 2018.

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  1. Katie

    Katie Well-Known Member

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    New to forum and saved my deposit for my first invesment just wondering have it down to 2 options nerang 15 minutes from the beach 410 sqm block 3 bedder 2 bathroom rents for $440 a week for $410.000 or closer to Brisbane in Regents Park 720 sqm 4 bedrooms rents around $400 a week $400.000 peoples advice would be great not sure weather closer to brisbane is better for capital growth or the Gold Coast.
     
  2. Colin Rice

    Colin Rice Well-Known Member

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    Im not familiar with those areas being on the west coast. I would choose the property that will appeal to the most tenants and also owner occs if you need to sell in the future.
     
  3. Katie

    Katie Well-Known Member

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    I’m just not sure what will get better capital growth I’ve always heard to buy more land but so close to the Gold Coast beach 410 sqm near the Gold Coast vs 720 sqm 30 mins to Brisbane regents park Logan.
     
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Im a Nerang Utang.

    Some great streets, some areas that are so so

    choose wisely

    ta
    rolf
     
  5. Katie

    Katie Well-Known Member

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    I seen Nathan Birtch say on 60 minutes he thinks the Gold Coast is just getting started it’s Australias Miami not sure Nerang is in that category but.
     
  6. Colin Rice

    Colin Rice Well-Known Member

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    Not advice but have heard good things about the GCs future.
     
  7. Katie

    Katie Well-Known Member

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    Thanks Colin.
     
  8. Katie

    Katie Well-Known Member

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    Rolf kowhai Street heard of that one opinions?
     
  9. Closet

    Closet Well-Known Member

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    Regents Park is one of the best options in Logan as it has a higher average income by some way, is surrounded by some $700k suburbs, has a very large shopping centre with Cinemas, good access with upgraded through roads to Brisbane. It also is about 75 / 25 owners to investors. You'll do a lot better than $400k though with some hunting...
     
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  10. Katie

    Katie Well-Known Member

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    Thanks closet so you think it will do better then nerang 410 sqm the regents park one is 715 sqm and way nicer but nerang is 15 mins from the beaches of the Gold Coast.
     
  11. fat cactus

    fat cactus Well-Known Member

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    What price should she aim for in that area?
     
  12. My House QLD

    My House QLD Well-Known Member Business Member

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    What about in Logan closer to the M1 then you have access to the Gold Coast and Brisbane CBD in about 30mins. Daisy Hill is similar price point to Regents Park.
     
  13. Katie

    Katie Well-Known Member

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    Hi Richard yeah have tryed a few I like Mount Warren Park as well do you think these areas will do better then Nerang but there all double the size but Nerang is 15 minutes to the beach not sure which way to go captital growth wise.
     
  14. Katie

    Katie Well-Known Member

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    I don’t like Pimpama and Coomera I think there way to far from the beach I’d rather Logan then those 2 suburbs.
     
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  15. Joseph33

    Joseph33 Well-Known Member

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    Hi Katie, maybe a good idea if you head to them areas yourself and see what it's like. Also do a or of research and work out what's best for you.
    Regents park is a nice area but as was said earlier, you can do better then 400k. Regents park has achieved 4.3% capital growth in the last year. Median price is 399k
     
  16. Closet

    Closet Well-Known Member

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    Not advice and is dependent on your strategy but some pros and cons for you to consider as well as some questions to answer in your due dilligence.

    * property grows based on land components whereas buildings depreciate so generally in the same location more is better
    * property appreciates due to infrastructure or uniqueness. Which of these is more important to you and which does each have? Most importantly what is the future infrastruture as that will drive future growth in each area
    * which has more owner occupiers than investors more oo is better both in good and bad times
    * how desirable is each property is it close to schools shops etc
    * what are the average incomes in each - the higher the income the more potential or
    * what are the prices in surrounding suburbs for comparable houses. If more expensive then future growth is likely as buyers are priced out and move into your suburb
    * are there lots of jobs being created to attract people to the area
    * what is the rental return and vacancy rate. This is very important for example some areas in logan (not rp) have had significant investor numbers jump in and as a result the market is flooded with rentals. Eg investor to owners is 40 60 rather than 75 25.
    * how large is the floor plan more is better
    * lastly can you manufacturer capital growth by adding a bedroom or bathroom and having it certified. Easy way to buy a 3br and convert to 4br doing or cosmetic reno and possibly make 30 - 40k. I always do this in my purchases as you've made money without waiting for growth

    If you profile each area / property based on these questions it will help you to understand the long term prospects and how they compare.

    Ps you could pickup 3br in regents park for 350k 4br 370k if you are patient and look for houses that have sat there for a while. Particularly those needung cosmetic renos

    Anyway hope that is useful to you
     
  17. My House QLD

    My House QLD Well-Known Member Business Member

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    I'd look from Loganholme/Shailer Park to Daisy Hill, Springwood and even Rochedale South, you will find something around 400k that might need a small makeover. Springwood should become a major hub for Logan and you already have Ikea and other big business along the M1 with a Bunnings now at Loganholme and talk that Costco might also go in at Loganholme. Certainly nothing wrong with Regents Park either
     
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  18. JDM

    JDM Property & Conveyancing Lawyer Business Member

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    I think it would be worth looking closer to the M1 if you're considering Regents Park
     
  19. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Kowhai place is in a newer subdiv and is generally not as affected as some parts of Nerang central because the rental costs are higher .

    i like the whole area per se, on the M1, train, eclectic in that there are HQ holdens on bricks, yet in other areas there is the odd bentley .

    Excellent newish RSL, ok cinemas, decent medium shopping centres, great sporting facilities, ski able river.

    55 min to brissie airport non peak, 30 to coolie........., negligible new land releases near town.

    Choose a good pm.

    ta
    rolf
     
  20. Katie

    Katie Well-Known Member

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    Thanks Richard what do you think of slacks creek being 15 minutes or 20 to the city?