Calling the investor brains trust - what would you buy with $510,000 in north Brisbane?

Hi Brains Trust!

My hubby and I are looking to purchase our first IP. We have a home in Sydney and wanted to diversify our portfolio.

Budget: $500k-$510K - we don't have to spend it all
Style: Set and forget style property, strong capital gains as we'd love to buy another property down the line... this is for our retirement.

I have read in forums Bracken Ridge is great, but it needs to be in the right 'pocket'. Also the closer to the CBD the better in terms of capital growth

I would love any advice from successful investors what you think of the below properties and where you would invest your money if you have our budget.

28 Evergreen street Bracken Ridge
28 Evergreen Street Bracken Ridge Qld 4017 - House for Sale #128318506 - realestate.com.au

3 Ben Street Arana Hills
3 Ben Street Arana Hills Qld 4054 - House for Sale #128281678 - realestate.com.au

17 Petunia Close Taigum
17 Petunia Close Fitzgibbon Qld 4018 - House for Sale #127775750 - realestate.com.au

26 Wangarah Street Bracken Ridge
26 Wangarah Street Bracken Ridge Qld 4017 - House for Sale #128080846 - realestate.com.au

Thanking you

 

This is from memory, without driving past and checking>

I think the first Bracken Ridge house will be quite close to the sewerage treatment plant. It is certainly close to the motorway.

The Arana Hills house is either on a steep slope or at the bottom of the steep slope. Either way it may be annoying with storm water run off. The other two I dont know.

 

Thank you so much for taking the time!! we are in Sydney and using a BA, they sent us these properties...

 

Like I said, I may not be correct. Ask your BA for clarification.
Best wishes.

 

Just my two cents.
Look into the viability of gains in Bracken Ridge - download the suburb report. Look at the Trend, to me it looks like B/Ridge was flat and recently became a little more popular. Why Bracken Ridge? Assess against other suburbs. Look at Deagon, it got popular with the beauty of the homes being realised. Finally, look at Carseldine. They are building an Urban village that will be huge. Is there something similar going on in Bracken Ridge and that's why?
https://haveyoursay.dilgp.qld.gov.au/carseldine

Any house you look at, do the comparable market analysis on Rpdata, if possible, or ask your BA to do this. Go to Google Street View on the property and click the man... look all around.
Look at your yield and don't pay out of pockets 'just because of blue sky' - it will impinge on your ability to buy again.

 

Look at Redcliffe, surrounding Scarborough and Margate, all easily rentable, and the closer to the waterfront the better, the properties range for sale from $450,000 to $550,000 will rent out $450 and $550 per week

 

I would split this cash among 3 different purchases for better yield, greater ability to add equity and positive cash flow.

 

I'm also looking with a similar budget but where would you find these 3 properties for 180k?

 

The assumption may be that $510,000 be used in 3 deposit for 3 dwellings.

I think that's what Jaxon means .


But the OP probably ahs $100,000 the rest is from the bank loan?

Need more clarity from OP>

 

So mate I would look at past sale on RPData in those price brackets as an indicator, study rental returns, then start looking for deals based on that, the reason this is (ONE OF) the good ways to find something is because if something sells for X amount its more likely to do so again or be around that price, so instead of seeing the higher end priced listings, past sales gives you legs to stand on when negotiating a price

I would also look at listing, look for bank sales rather than financially healthy sellers

(buy a problem, sell the solution)

To clarify ZeeZee isnt sitting on 500k cash? they have the ability to spend that much, I would much rather buy 2-3 properties that are CF+ and have addable equity than spending the full amount on one property.


now a point that I always like to bring up with this conversation is during 2008


a million dollar property dropped down to 450k-650k

a 200k property dropped $120-150k

now in saying this there are so many variables but higher end properties have the most to loose and gain, but bread and butter standard homes are needed regardless.

If that makes sense?