Buyer Agent for property below 400k

Hi All,

I am based in Brisbane and looking for an investment property with good rental yield (so I could comfortably pay my mortgage ) and future capital growth. I am after 4/2/1 low set brick house. I know with my budget I have options only in Logan or Ipswich council. Does it makes sense for me to hire a BA. I will be paying somewhere over 10k for the service but with low inventory and very few options will they be able to add value ?

 

Are you 100% sure you can't find anything anywhere else? I'd keep looking. Do you have to have lowset 4 bedder? Start by yourself.
Of course a BA could do it for you.

 

I should have been more explicit. I want to invest only in Brisbane .
4 bedder is a preference for more rent. My deposit is low and want to avoid extra cash out of pocket for mortgage.

 

Yes a 4 bedder is good but more expensive and not every renter wants 4 beds. You could give yourself a few more options. I got it that you're talking about Brisbane.

 

This is about as close to the CBD you'll find:
https://www.realestate.com.au/property-house-qld-gailes-136195254
https://www.realestate.com.au/property-house-qld-gailes-137013670

 

If you need to conserve funds for the deposit I would avoid using a BA unless you're extremely time poor and can't search for properties yourself, just my 2 cents

 

If you are on the ground then I would suggest seeing if you can do it yourself.

You already know the councils you wish to purchase in.

Be very clear on what you won't or will accept. I do think though that is looking like a very low budget in the current Brisbane market.

 

From your point of view in which Brisbane suburbs can we start looking for 3-4bedders 550+sq in/around 500k?

 

4 bedders under $400k are becoming rarer by the week.

3 bedders I'm sure you can still find a few. 4 bedders the longer the weeks pass the harder its going to find a deal for a 4 bedder.

 

What should be the rental for property below 400k ?

 

That is the biggest open ended question I've seen mate. You want as high as you can get it.

Is it a 3 bed with 1 bath and 1 LUG that is shiny and newly renovated or is a a 3bed with fungus and animals in the bedrooms with mould in the bathroom and kitchen and a pile of rubbish in the backyard?

 

Everyone wants max rent thts understood. Would have appreciated if you would have given a realistic number.. Like for investment under 400k it is easy and reasonable to get $350 per week. I am finding ways to to achieve $450 per which may or may not be realistic. If this is tough in Brisbane where else should I look for..

 

This this really helps with options to explore. Never heard of gailes. Will start digging.

 

Add value or just get into the market?? Lots wished they had paid a BA years ago in Brisbane. The 10k would have looked small compared to the gains in the last 12-18 months...

What yield are you looking for?

4/2/1 for 400k or under? Not in Logan anymore unless it's very run down.

This is under contract for over 500k.

https://www.domain.com.au/24-clayton-court-crestmead-qld-4132-2017039469

 

This is where a BA with local knowledge can help you. They can find properties with additional features that tenants will pay extra for to increase the yield. It's not as simple as asking whats the rent on a 400k or below property.

 

I avoid Goodna as there's a lot of flood risk, Gailes is fairly elevated. Just type any address in:
Flood map information - historic flood events - Planning & Development
If you look at Camira next door, houses are 500-700K now plus Gailes is a little closer to the CBD at 21km. It was common to find them sub 300K mark recently but those two in the link are pretty nice houses on big blocks. Good luck and feel free to message me if you want any further info on the area.

 

Hi Richard, do you still get off market properties or due to the demand in the area, all via RE agents and normal sale via RE, Domains etc?

 

Yes still finding off market. Usually through our relationships with selling agents. We have a few other methods of finding them even in this market. In the last four weeks I've picked up five off market properties in Logan and Ipswich so they are still about!