QLD Calling the investor brains trust - where would you buy with $500,000 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

 

Generally, we would look for properties in walking distance to transport and/or shops / infrastructure.

How far are each of the properties from the main roads? what is the key mode of transport for this area?

When you say 'the right pocket' - have you asked this question on those particular threads?

How do you compare each of these properties when it comes to proximity to amenities which would attract owner occupiers to that pocket (and drive growth) and also attract tenants?

 

Think you are on the right track with Arana Hills

 

Thank you... all great questions...

 

Out of the options listed, I would also lean towards Arana Hills, it's not far from the Shopping Centre, schools, 20 minutes walk to rail and the suburb is approx 70% owner occupied to a lower pool of renters to compete with.

 

I'd be looking for something closer to the CBD with that budget.

There is stuff in Enoggera for that budget - definitely not premium stock but I'd look at that rather than going too much further out. We have some property in Enoggera (which is why I know it) but do not know much about the areas you are looking at.

 

As close to the CBD as an older (rentable) house will get you within your budget. It's that simple for me. BR is way too far from the CBD for my liking.

 

Ferny hills, Everton hills, keperra.

 

Pls show us a house in Enoggera for $500k.

 

We just bought one in Ashgrove for slightly above your budget

 

May I ask why you chose that suburb please? I’ll have a look now

 

I've got clients with that kind of budget looking around Arana Hills/Ferny Grove/Ferny Hills, so would also second Arana Hill and the surrounding, with close proximity to Arana Hills shopping centre or the Ferny Grove train station

Though from what I'm seeing there are currently a bit of competition to get places rented out in Arana Hills. Most of the houses available for rent have been renovated and presents well, but am still seeing them sitting on market for a while and in some instances had to drop rent up to $30 to get them rented. So if you do your cashflow forecast you may want to lower your rental expectations and be more conservative.

 

There is some on Wardell St (149, 350, 352). Not the best location wise but there is some out there.

 

Not easy - but possible if you really stay on top of it.

There are a few for sale now in that range - as I said not the best stock but better than going too far out. Probably not what I’d go for though.

This sold for $521k just before Christmas - nice spot and OK house.
I’d recommend that as a good investment.

52 Harding Street, Enoggera, Qld 4051 - Property Details

 

32 Enbrook Street Bracken Ridge

If you aren't opposed to auctions, this corner block public trustee sale just came on the market.
Looks in OK condition and I have read that the area south of Barbour Road/Philips Street is quite desirable.

Looking on google street view the neighbouring houses look quite nice. Could be a worst house in best street scenario

 

How would these make great investments? What is the rental appraisal like?

 

Won’t get much closer to
CBD than that for $500K mate. I just helped a friend buy in BNE with a $500K limit.

Likewise the suggestions for the Hills (Ferny, Arana etc)- anything around that mark is on a main road. My experience of late anyway.

$500K is such an obvious and popular limit. If you can push up another $100k, this opens many more doors (IMO).

 

I agree, I tend to see more value long term in the 600k bracket.

 

What doors in what suburbs would you be opening at the $600K price point?

 

Any door that belongs to a flood free, free standing home on a larger block with some add value potential that is closest to the CBD that you can snatch. I'd investigate those first.