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QLD Between Ipswich and Acacia Ridge for investing ?

Discussion in 'Where to Buy' started by Tekoz, 28th Apr, 2016.

?

Which suburb do you prefer to invest in QLD

  1. Acacia Ridge

    18.2%
  2. Ipswich

    40.9%
  3. Other areas.

    40.9%
  1. Tekoz

    Tekoz Well-Known Member

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  2. Whitecat

    Whitecat Well-Known Member

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    Close to train is critical
     
  3. strongy1986

    strongy1986 Well-Known Member

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    Worst thread ever

    Why do you even bother, its so obvious
     
  4. Tekoz

    Tekoz Well-Known Member

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    ok,so it is confirmed those two areas are set to boom or gentrify due to the commercial space investment offerings ?
     
  5. Plutus

    Plutus Well-Known Member

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    Wouldn't touch either. Tonnes of land for new developments, limited potential or appeal for people to move there & mostly just bogans.

    Forest Lakes is a nicer place to live than Acacia Ridge & still suffers from the same issues its got.. Specifically a massive commute to where jobs are, high crime, no coastal breeze & enough undeveloped land that there will still be new greenfield sites undermining the value of old developments for a long time to come. Unless you're talking about buying acreage, the land out there is pretty worthless & you're mostly buying the house.
     
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  6. Tekoz

    Tekoz Well-Known Member

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    @Plutus in that case which area that you suggest ?

    I suppose it is best to buy one suburb outside of the two mentioned area above on the voting question.
     
  7. Plutus

    Plutus Well-Known Member

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    What are you goals & price range? if I was a betting man (which I am), I'd be aiming to pick up a house neutrally geared (at 20%) down in east Bris or South Bris right now, big enough to be split into minimum 3 townhouse blocks but ideally a 4pac. Probably going to require a contribution of $120-200k depending on how close to the city you can get it. Sit on it for 10 years until 3-4br family homes <5km from the CBD are $1m+, or if you're really keen get DA on it and either flog it to a developer at a premium or develop it yourself.

    Seriously have you ever visited Acacia Ridge? I lived there briefly as a lad. Forest Lake & Springfield are debt traps for foreigners and southerners moving up here (who quickly move again...) Acacia Ridge is politely an industrial suburb, unpolitely its a ****hole with high crime neighbouring on what is arguably QLD's worst suburb, Inala.

    If you're deadset keen on the south side of West Brisbane (lord knows why), take a look at Mount Ommaney. Proximity to the river makes it a much nicer place to live, much higher quality of tenants and much lower crime rate. In peak hour its still a 40ish minute drive to the CBD with tolls (which QLD'ers hate) via the m5, or a 1hr+ slog to avoid them, but overall a much nicer area
     
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  8. Special order

    Special order Well-Known Member

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    Yes I agree, I'd be putting those areas in with Townsville and its 13% unemployment rate and Broken hill...wherever what or where that is
     
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  9. Andres

    Andres Active Member

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    What's so obvious?
     
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  10. Tekoz

    Tekoz Well-Known Member

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    @strongy1986 Yes, can you please elaborate a little bit more please ?
     
  11. Tekoz

    Tekoz Well-Known Member

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    @Plutus No, I'm in Sydney so far I only do my research based on paper and forum discussion.
    Since I'm not going to live there, hence the only thing that I think so far is make sense is the number on the paper, not the "feeling" or emotion.

    My goal here is for Cashflow. Because my budget is only available about $350k maximum.
    I cannot find it anymore in Mt. Gravatt, Sunnybank, Wynnum, Keppera, Algester, Runcorn and Wishart.
     
  12. Plutus

    Plutus Well-Known Member

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    Then either your a spruiker or your numbers are wrong.
    Here is what half a decade in Acacia Ridge looks like:
    [​IMG]

    Regarding why, see my previous comments (****hole in the middle of nowhere with greenfield sites for hundreds of thousands of new homes, no place transport, low socio economic area, etc)

    Ipswich
    [​IMG]

    East Brisbane:
    [​IMG]

    South Brisbane:
    [​IMG]


    Which is peanuts even by BNE standards. IMO you either need to:

    • Save up another $10-15k to get your borrowings above $400k and get into a fixer upper
    • Go full on regional (more of a gamble)
    • Ditch BNE and start looking at even cheaper markets (SA?)
    Because right now you come off as a spuiker recommending crap suburbs that are mostly flogged to interstaters who have never driven through them.
     
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  13. strongy1986

    strongy1986 Well-Known Member

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    Yes townsville is struggling at the moment. It wont struggle forever, i'd rather buy when its cheap - bought a corner block which i can easily put a house on the other street frontage And make 150 k easily - even in todays crap market.
    I prefer to manufacture equity then just rely on a rising market.
    Ipswich unemployment is 10.8%, townsville 10.4%
    Besides future potential of townsville is a lot better than ipswich
    Broken hill bought it for 48k - in for 73- rent 200 a week, revalued by bank at 100k. Used equity to fund my next purchase and i get about 4k annual cashflow (not a world beating deal but nothing to laugh at)
     
  14. Luke T

    Luke T Well-Known Member

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    Hey Tekoz,
    mate those areas will have growth if you buy established .
    but acaccia ridge has a major industrial commercial feel .
    Ipswich is set to move but i would go low -mid $200s on a large block -larger house do light reno and hold
     
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  15. Luke T

    Luke T Well-Known Member

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    Or;
    Tip in a bit more cash and go as close to the cbd as you can
    eg ferny hills $430-$450K
    ferny grove -$480K
    keperra -$450 (but has older feel and mostly old houses but close to cbd)
    or go waterside east -$450-$500K
     
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  16. Bryan Loughnan

    Bryan Loughnan Well-Known Member

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    Hi @Tekoz - firstly - "my goal here is for cashflow" - are you talking cashflow to supplement your income today? If so, property is probably the wrong asset class for you.

    If however, you are looking for cashflow in the future (ie you want to build wealth through property so that one day when you exit the workforce you aren't reliant on the government funded pension), then maybe you need to have a serious think about what drives property markets and how property (as a financial instrument) can best help you achieve your goals.

    Lastly, why have you focused on Brisbane? Australia is a huge country? Australia is just a tiny dot on the map. So many more opportunities out there. You might like to have a read of the following - just some food for thought.

    http://www.propertyology.com.au/wp-content/uploads/2016/03/2016.03_Propertyology_Brisbane.pdf
     
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  17. Azazel

    Azazel Well-Known Member

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    Agree, there are some good buys around in Townsville.
    The only thing that put me off the area I was looking was higher vacancy rate, but that looks to be going down.
     
  18. dabbler

    dabbler Well-Known Member

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    Anyone been around for a while will know Tekoz loves that area, and if you give him/her a chance, you will get the spiel on Park Ridge which has been burnt into my brain by ad nauseum mentions :)
     
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  19. Greyghost

    Greyghost Well-Known Member

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    One trick pony
     
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