QLD Brisbane Suburbs with Double Digit Growth

I am a bit dissapointed you did not organise some of the QLD suburbs I like to be on that list Leo

 

I'll be 79 by then....

 

You are funny!!!!
Mum is turning 80 in few months.....so....great....that's why you need to live now too along your wealth building journey! You said yourself if you live to 50 you are more likely to live a long age, remember!
I hope to live beyond 100, and too some on my friends, let's live and see...!
You know what.... make sure you post then so if I am around I will remind you...ok?

 

Give it tine mate, I'm sure more and more suburbs will make the list

 

Yeah, I am sure some are highlighted cause someone somewhere has an interest in doing so......

 

I thought I'd come in to give this thread a gentle bump too. I have a couple of vacant lots down the road from Leo's for sale that could be simple build and sell projects for those with good serviceability and need a chunk of cash to buy their next deal.

 

pm'ed you @beachgurl

 

Interesting read of this thread Leo2413 and Mat L. You guys sound very knowledgeable on the opportunities in the area.
I bought an old Queenslander on 600sqm block north facing in Camp Hill (in a street off Martha Street) a year ago.
It's 3 bed 2 bath. House has been raised and rumpus room bathroom built in underneath. House was very well looked after by the previous owners of 30 years, but needed a facelift so I gave it a new kitchen, lick of paint.

Currently it's been rented for $650 a week. So overal yield ain't too bad.

Basically my house is on a street of renovated/flipped houses. The house has city glimpse potential if raised another 1.4m (like our neighbour has done.) It's also in LMR zoning.

My long term investor hat tells me to not over capitalise and just let it sit there, collect the rent and maybe one day extend or raise, or wait for a buyer who wants a house in that street to renovate themselves.

Now this thread has made me think differently?
Would I be stupid to let it sit there given the appetite of millionaire homes in the area?

 

Depends on a few things imo mate.

1. Your goals
2. Risk profile
3. (Assuming the first two are congruent with add value strategy) How much you paid for the lot.
4. (Most importantly) Is there scope to add value where the return is worthwhile for the risks . BOE feaso needs to be done taking into account any special aspects you may have eg city views.

 

Goal = make some decent profit
Paid $770k
I'm counting on the suburb and street I bought in being desirable enough to attract the buyer.

And sorry for sounding like a bit of a *****, but what does BOE stand for? Thanks

 

All good mate. Back Of Envelope, aka quick feaso before a more detailed one . Usually looking at

1. End sale value for similar renoed stock in the area.
2. What it would cost you to get yours looking similar
3. Then what margin of profit is there to determine if its worth it or not.

 

Ah ok!! Yes those points make sense. Thanks

 

I always find that @Leo2413 makes cents.

It is rumoured that he occasionally makes a couple of dollars as well .

 

That's an improvement compared to some of the rumors I've been told ppl said about me

 

Is $500k a good baseline BOE cost of medium to high spec new build on 405m2 block in Brisbane? I would imagine there would be some savings in doing a double build at once. Trying to do quick, conservative estimates on value of splitter blocks however not intending to do immediate work.

 

More like 600k unless you have a business relationship with the builder. Also depends on your lot. Flat vs Slope, access to services vs easements etc.

 

Thanks Leo, would that estimate also hold true assuming a flat block, already on two titles and services installed?

 

Most likely would be less for a really flat block. However the two titles and services costs are part of the subdivision costs (not construction) which are additional to the overall development costs. If your lots are already subdivided and all services in then you will save about 100k in the development costs, although it probably was factored into the price when you bought it. The seller would have gotten a premium for doing the works.

 

I assumed as much although haven't pursued a split block specifically yet. Focus would be to ensure getting a good deal on the land with existing house and hold until the numbers stacked up. I'll look to network with others who have experience in the space to save costs and mitigate risks where possible.

 

Experts seem to think Lutwyche and Kedron will do very well this year as well.

Australia's top property experts reveal their suburbs to watch in 2019