Hi all, Looking to buy my first investment property preferably under $400k (plan to hold long term). Targeting a bit more capital growth for my first one or two before moving onto higher yields. I have been looking at MBRC lately and more specifically Redcliffe or nearby suburbs as it seems to have a fair bit of infrastructure and emotional factors attractings more OO's and not over supply of land. Although can anyone with experience please shed some light on: - what to look out for? - areas/pockets to stay away from? - is bigger land size a better? - good future growth or is it priced out? - is housing comms a big negative? Also open to other areas if you feel there's better potential. Thanks!
I'm going to suggest the Southside (Logan, Ipswich, Gold Coast, etc), if only because I'll be able to help you with that I haven't got a clue with Moreton Bay! Too far and too much traffic! If you're looking for capital growth and happy to spend $400k, there's also some Brisbane Council areas you can look at (e.g. Algester, Acacia Ridge, Strathpine, etc.). @Angel is a local Northside 'expert' who might be able to make some suggestions.
Thank you @Tom Rivera for the support! I wouldn't call myself an expert though, that's why I haven't responded. But alright, I'll take the microphone. I will add that the only traffic I encounter in my MBRC suburb is school drop traffic, just sayin'. I love the whole Redcliffe region for a place to live but I think the prices are a bit higher than $400k for a house. I dont want to say anything that might jinx our own properties over there, we intend to sell one of our properties after the neighbours sell theirs. I was chatting to my PM just last week - she said with their agency (North Lakes and Redcliffe area) it is business as usual and only one tenant has reduced his rents - an airline pilot - and has agreed to make it up later. I believe that if you buy an awful property that no one would want to live in, it will attract similar tenants. If you buy a nicer place, you will be fine. Nice places would probably cost you more than $400k unless you are considering a unit rather than a house, or something further away from the desirable beach suburbs. I cannot comment much on prices recently as I have not been studying real estate as much as I used to. Search the threads here on Moreton Bay for more info on different suburbs.
I bought a 3 bed house in Redcliffe 2 years ago just near the hospital for $430k. Very nice area, especially close to the ocean. As a Victorian it has a very Geelong or Mornington feel about it but closer to the cbd than those.
Thanks for the advice @Angel & @Tom Rivera ! I have read quite a few thread in MBRC lately which has had some great info. Strathpine & Algester was another potential on the list but I guess it also came down to affordability. Even Redcliffe was a struggle but I may have found myself quite a decent deal in Redcliffe even though it's not as close to the water as I'd like but felt it was a good long term hold and under market value. Agent said the owner wants to rent it out before settlement too! Hopefully will go through and will update you guys after!
