QLD Advice from someone in Brisbane who is not looking to buy in Brisbane

This is such a good community!

Which areas/suburbs are most suitable for an IP? I might contact some of the people above too, but whats the first step in narrowing down an area in Brisbane?

 

1. Strategy
2. Budget

 

1. CAPITAL GROWTH. (HOLD, RENT OUT, NEG GEAR)
2. PREFER LAND with Modernish home (ie. hassle free lease out).

 

I see some between $350 + $1m+

What level investment do i need to be at to make this strategy work for me? Will a budget of $500k be enough?

 

Hi Steven et all,

I'm a new bee here looking to buy our first IP in Brisbane after being priced out in Melbourne market. Would be very grateful if you can share your thoughts on Brisbane market, preferrably under $550k.
thanks heaps ))

Tinaandalex

 

Gday Tina.. and Alex
You can still find well located properties within 10Kms of the City for under $550k. Have a bit of a looksie at realestate.com.au in map view and see what you think. Close to a train station (but not too close) is good.
I'm more familiar with the N/NW so would recommend there (Mitchelton might be a bit out of budget but surrounding suburbs like Keperra), but I'm biased.

 

With that budget, and my risk profile, I'd personally be looking at a bread and butter house on a nice bit of land 10-15km south of the CBD. But that's because I believe that whole area is on the move. You may well do better buying to the north or elsewhere though. I don't have a crystal ball

That said, perhaps it's worth scoping out out Sunnybank, Sunnybank Hills, Algestar and surrounds. They fit your budget.

 

thank you so much, Azazel . will you be able to share your insight into Keperra, ie. the most and least favorable parts of the suburb etc?
regards
Tinaandalex

 

thanks Steven for the hints. Now's time for us to do our homework))
T&A

 

No worries, the part where I bought is the best obviously, and will go up immensely when I move in (sorry in advance to my potential neighbours)
I would avoid the main roads (Samford Rd, Settlement Rd, Dawson Pde) unless it's a great buy.
Places right on the train tracks could get a little noisy, but if you're not going to live there you might not care.
And like anywhere in BNE make sure to check the flood maps. 99% of it is fine, but that one you don't check...

 

@Tinaandalex, pleasure.

Enjoy the research.

 

That budget can still buy you a house in Melbourne..

 

If I had known about this community in 2010 when I was trying to buy in Melbourne, I probably would have gone ahead with a purchase... back then I did about 7 trips, bought nothing. (Did get something under contract but it didn't go to settlement). This year had success in Brissie!! The hype worked!

 

Keperra apparently has a good and bad area. I looked at two houses western side in and around Eidsvold St and they were in a rough area - so rough that I was put off.

Mitchelton is a great area - i love that suburb but prices have gone up. Could look at Everton Hills or Arana Hills - stick to the south so not too far from train station....

Kedron median is around 600, this one looks like decent value
http://www.realestate.com.au/property-house-qld-kedron-120174609

 

There sure does seem a rush of newbie Brisbane investors trying to get into the party* before opening time.







*may not be a party.

 

Brisbane is so much cheaper like for like properties than places like Sydney, it's gonna be more tolerant of mistakes.
Make the same mistake in Sydney and you will likely be sweating bullets. It also has much more competition and isn't as forgiving to mistakes.

 

I know. Shouldn't we be saving this for the hype brisbane thread?

 

Steven, a question for you. How different is Coopers Plain and Salisbury. See that the earlier borders the more expensive suburbs, ie. Robertson and Salisbury but it's also next to Archerfield which is cheaper. What's not so good about Archerfield?
cheers
T&A

 

Yeah, there probably are some 'interesting' areas like anywhere, but it's not that bad. The West past Eidsvold St may as well be Ferny Grove.
The Eastern side of Dawson Pde may as well be Mitchelton and is closer to Oxley Park station or Grovely station than Keperra station.
There's a spot West (South of Samford Rd) that is a lot newer too, which some prefer, but obviously it's a lot further from the train station(s).

 

If you look at Archerfield on the map you might see why.

Spoiler: Hint

It starts with A and ends in irport.