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QLD Goodna/Redbank Plains/Springfield

Discussion in 'Where to Buy' started by Jewels5, 28th Aug, 2015.

  1. Jewels5

    Jewels5 New Member

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    Hi All

    Looking to make some solid moves towards our first IP purchase sooner rather than later. Have been following just loosely Redbank Plains and Springfield. Our strategy at this stage would be cash flow positive. I dont think we have the stomach yet to try our hand at building an empire quickly. We can borrow about 450k but looking more around the low 300s mark.

    Any one care to provide some gems of wisdom?

    Thanks
    Julie
     
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  2. Elives

    Elives Well-Known Member

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    redbank plains / bellbird park has moved a bit this year late 2014 you could get 3 bed 700m2 for 200-230 now it's more 245-280

    that being said i'd still be buying in redbank plains / bellbird park. as it's much better value then springfield. springfield you will be buying brand new and paying a premium.

    the master plan development for the springfield area is only like 7-13% completed with a lot more to come. the marter private hospital should open any week now. they've just completed construction the beginning of the health city.
     
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  3. Heinz57

    Heinz57 Well-Known Member

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    For some reason Springfield Lakes is considered posher than Springfield. I don't know why- the older part is on bigger blocks, better built and closer to infrastructure. And families like to live there.

    Watch the insurance premiums in Redbank / Redbank Plains. Also take a drive along Henty Rd area at night. I like Redbank but I don't like those streets with tyre marks.

    George Collis in Redbank / Gailes and Steve Hodgson in Springfield seem to be the best of the agents. Sorry if you are a gun agent in this area but I have not met you.
     
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  4. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

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    I would come closer towards the city, Richlands, Inala, Forest Lake, Browns plains etc etc (just to name a few) that way tenants can commute to Springfield or the city or to Logan and you are generally more centrally located rather that stuck out at Redbank plains. I even prefer Logan as its very well located on the southside, can commute to Springfield/Ipswich and the Brisbane CBD and the Gold Coast in half an hour each way (good traffic)... Don't like Goodna much did look around there a bit last year didn't look great. Try for some development potential and near a train line. Also there is lots of land out that way, and you have new developments with cheap houses being built. That is only my opinion of course ;)

    Ipswich House median (source:Residex data) is a 7% decrease in last 12 months, ending June 2015

    [​IMG]
     
    Last edited: 28th Aug, 2015
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  5. Heinz57

    Heinz57 Well-Known Member

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    Is that Ipswich LGA or suburb?
     
  6. ej89

    ej89 Well-Known Member

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    If you can get 450k i'd go house as close to the CBD as possible...
     
  7. Be Developer

    Be Developer Property Developer Business Member

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    @Jewels5

    should be able to find 1/4 acre block with decent house in redbank plains (look at near new estate area)

    should be nearly cash flow positive.. or add bit of value and make it cash flow positive.

    cash flow positive + potential to develop = winner deal!
     
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  8. Jewels5

    Jewels5 New Member

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    I have seen a few..any sections of redbank plains to avoid?
     
  9. Be Developer

    Be Developer Property Developer Business Member

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    @Jewels5


    This is a good pocket .. rest best to avoid!



    upload_2015-8-29_19-6-41.png
     
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  10. Azazel

    Azazel Well-Known Member

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    Seconded.
    Good? Na.
     
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  11. Be Developer

    Be Developer Property Developer Business Member

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    Agree...goodna is good?Na!:)
     
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  12. Tekoz

    Tekoz Well-Known Member

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    @ej89 does Brisbane CBD prone to flooding and is not as vibrant as the Melbourne/Sydney CBD during the weekend ?
     
  13. KayTea

    KayTea Well-Known Member

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    Remember, @Tekoz , not everyone wants 'vibrant and buzzing' - I think families with young children are more likely to be looking for a climate where kids can spend a lot of time outdoors, and with family-friendly places to visit nearby. Brisbane has South Bank, Roma St Parklands, and a bucket load of brilliant places to visit, many of which are easily accessible by clean public transport, and don't take hours to get to.
     
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  14. Tekoz

    Tekoz Well-Known Member

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    Yes, you are right @KayTea I've missed that point. Now I learnt something to remember.
    Thanks.
     
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  15. lisawithane

    lisawithane Well-Known Member

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    I bought an IP in Redbank Plains late 2013 and it has been performing quite nicely, a little bit of capital growth and good cash flow. Property was less than 10yrs old so it has decent depreciation. Look for 4, 2, 2 on a decent sized block and check flood maps.
    Good luck
     
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  16. KayTea

    KayTea Well-Known Member

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    Hi @lisawithane - if you don't mind me asking, what sort of CG has your Redbank Plains property seen (either $$$ or % is fine). I'm just interested to see what the growth has been like over the past 2 years.
     
  17. Tekoz

    Tekoz Well-Known Member

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    Last edited: 10th Sep, 2015
  18. lisawithane

    lisawithane Well-Known Member

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    Hi KayTea, The CG has been 8% in 18mths on a bank valuation which i always find them quite conservative
     
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  19. York

    York Finance Broker Business Member

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    Can i ask what size block approx. and how old is house?
     
  20. lisawithane

    lisawithane Well-Known Member

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    hi york polides, the block is 600m2 and it was built in 2006. touch wood have had great tenants too.